Customers in an electronic trading environment can easily reduce manual and administrative work with the help of EDI. Because of EDI, the net result is higher productivity and increased profits.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Importance of Electronic Data Exchange
Customers in an electronic trading environment can easily reduce manual and administrative work with
the help of EDI. Because of EDI, the net result is higher productivity and increased profits. Therefore, it is
understandable why more and more small entrepreneurs are choosing electronic data exchange
services for their business processes.
Here is explaining why the concept of Electronic data exchange has become so popular. There are few
important points to know
Elimination Of Re-Keying: Automated processing does away with standard keying of vital business
documents such as orders, quotations, invoices, acknowledgments and dispatch notes. This affects in
reduced labor costs, quicker processing, elimination of human errors and faster retrieval of documents.
Fulfilling Paperless Work: This is in line with the general call of being eco-friendly. You can save the
costs of printing, stationery, and storage of documents.
Reduced Lead Time: Electronic trading documents go much faster than paper documents, which greatly
reduce the lead time. Another benefit of EDI is that entrepreneurs can get shipping notes can plan
inventory much in advance for future orders. Hence, companies can plan their production and stock
Assuring High-Quality Work: Electronically traded documents are much more readable than faxed
documents. Electronic documents are provided in batches and sequentially numbered allowing quick
retrieval in case of loss or misplacement.
Provides Competitive Edge: You are one up in your customers\' eyes if you are using electronic data
exchange in your business dealings. Spontaneously you will be seen as a cost-effective and a profitable
trader. This is because you are using less of human resources to process the orders, deliveries, and
Because of the whole sole reason, business houses prefer EDI so much.