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EDI (Electronic Data Interchange) is set of widely-used formats that define a standard syntax for the computer-to-computer transmission of business documents. By adhering to the same standard, two different companies, even in two different countries, can electronically exchange documents (such as purchase orders, invoices, shipping notices, and many others). EDI systems are designed to allow trading partners to exchange common documents such as purchase orders, invoices, insurance claims, etc.
Benefits of EDI include reduced cycle time, Better inventory management, increased productivity, reduced costs, improved accuracy, improved business relationships, Enhanced customer service, increased sales, Minimized paper use and storage and increased cash flow. Despite these set of benefits, EDI systems are typically not interoperable with the other data formats that fuel today’s connected e-business and Web services applications and this makes data mapping and transformation an important component of any EDI implementation. The EDI standards are developed and maintained by the Accredited Standards Committee (ASC) X12. The standards are designed to work across industry and company boundaries. Today, more than 300,000 organizations use the 300+ EDI transaction sets to conduct business.
Benefits of using EDI Development
- Reduction of paperwork and associated savings like One-time data entry, reduced errors, improved error detection, On-line data storage, faster management reporting, Automatic reconciliation, Reduced clerical workload and phone chatter and higher productivity without increasing staff.
- More timely communications like Rapid exchange of business data, Elimination of mail charges, courier services, reduced inventory safety stocks and improved production cycle.
- Uniform communications with all trading partners like Customers, Suppliers, Carriers, Banks and financial institutions and Better market position relative to non-EDI competitors.
Below is a structured 10- step implementation process for successful EDI implementation:
- Step 1: Develop the organizational structure
- Step 2: Undertake a strategic review
- Step 3: Conduct in-depth analysis
- Step 4: Develop a business-focused EDI solution
- Step 5: Select the correct EDI network provider (VAN)
- Step 6: Integrate EDI with the business
- Step 7: Integrate data across the business
- Step 8: Undertake data mapping
- Step 9: Establish a pilot project
- Step 10: Roll out EDI to trading partners
- Start a EDI Development Project with BeyondKey
- Getting a consultation and starting an EDI Development project with Beyondkey is easy. Simply send us a request for quote outlining your project goals and vision and we’ll contact you sooner.