Electronic Data Interchange
Electronic Data interchange, or EDI, offers a better alternative to a paper system of information transfer whereby business partners do so electronically. Not only does an EDI system save on processing costs in the short and long terms, but it also ensures a satisfied repeat buyer base for the supplier.
Let’s have a closer look at some of the key benefits.
Cost cutting Purchase orders and invoices are part of a paper trail that traditionally requires manual data entry and processing, which in turn makes regular staff allocation to these tasks necessary. EDI allows the supplier to avoid costs associated with a paper system and to assign employees to otherwise more crucial or productive areas of operation.
Standardization means fewer errors In order for information exchange to happen, both the supplier and its customers need to communicate. EDI employs a standardized system so that both ends of the transaction can receive and process data quickly and correctly. Errors are kept to a minimum or avoided altogether.
Problem resolution It is important as a supplier to keep track and monitor ongoing transactions, and any hiccup in the chain of tasks needs to be identified and remedied. EDI allows for complete visibility of the above, making problem resolution and outstanding order ID a snap."
Customer loyalty With EDI contributing to your organization’s accurate and fast order processing, buyers will come to see your service as reliable and headache-free, making for repeat business and a constant influx of new customers.
EDI has its strong selling points, but it should be kept in mind that implementing a system suited to your enterprise takes consideration. Meade Willis will help you determine which elements of your organization you need to emphasize through an EDI system and how to bring it all together with your trading partners. Get in touch with them today to see how they can get EDI working for you.