What is EDI? What are Benefits of EDI Platform?

EDI, otherwise known as an Electronic Data Interchange, allows a company to send information to another company digitally. In the past, these processes would have been done with paper, but now they can all be done through a software application. This article explores some of the benefits of using an EDI platform and how it can help your company. Click the link to learn more about a scalable Microsoft Dynamics 365 EDI solution.

Table of Contents

Minimal Paper

As mentioned above, transactions, invoices, and statements all used to be done on paper. With the use of an EDI platform, this can now all be done digitally. Now, there will be less paper around the office, and you will be taking a step to creating an environmentally friendly workplace.

Save Money

Without having to buy supplies such as ink and paper, companies are expected to reduce their cost by at least 35%. The price of processing orders drops significantly, and there will be no maintenance fee for your printer or fax machine. Staff will also be able to spend more time on their duties, rather than managing disputes caused by errors. This makes sure your money is put to good use.

Increased Speed and Accuracy

Saving time and processing transactions quickly are important for running a business. With an EDI platform, transactions can take place in minutes instead of days, allowing you to get your money quicker, and customers to receive their items faster. Using an EDI platform can decrease your error rate by up to 40%. There will be no more handwriting errors, lost mail or faxes, and staff can concentrate on more relevant jobs. EDI can also help increase speed and accuracy by:

Confirming deliveries quickly
Processing vendor payments quickly
Automatically managing company inventory
Completing sales to customers

Efficiency and Workplace Productivity

As mentioned above, with an EDI platform, staff can spend more time on tasks that matter, allowing your business to grow and move forward at a faster rate. Staff will no longer need to worry about small tedious tasks and have less stress put on them. With an EDI platform, companies can take on more responsibilities, without adding more human resources.

Security

Like most online platforms, Electronic Data Interchange platforms give you more peace of mind by ensuring all of your data is safe and password protected. Everything is monitored by the company and there is a reduced risk of someone getting other individuals’ details.

So there you have it! There are so many great benefits of using an EDI platform in your business. Not only will it increase efficiency and productivity within the workplace, but you are also doing great things for the environment by eliminating your paper trail and maintenance costs. Make sure to do your research today and find the best EDI platform for your company.