Make the Most of Every Advantage EDI Offers
There’s a wide variety of EDI systems on the market today. Some companies choose to develop an EDI system in-house, but most prefer to outsource everything to an EDI provider.
In most cases, when a business owner sets out to choose a modern EDI system for their company, the only thing they know is that they need EDI – unless they’ve used EDI in the past, they aren’t sure what specific features to look for.
Fortunately, there’s never been a better time to implement EDI in your business because the modern EDI systems available today are significantly improved from their past renditions. Let’s take a look at several key factors to consider when choosing the right EDI system for your business.
An All-in-One Solution
Gone are the days where you need to invest in a bunch of expensive hardware and software to get started with EDI. Some companies still have this false impression that EDI is extremely complicated to set up.
Modern EDI systems accommodate current business practices, making your life easier. Rather than separately purchasing and configuring all of your EDI components, a modern EDI system has everything built-in to one solution for a monthly fee – just like all of your other business services.
One of the most valuable features of an all-in-one EDI system that’s easy to overlook when you are considering your EDI options is technical support. EDI compliance is one of the necessary, but annoying, aspects of electronic business communication.
A true all-in-one EDI system comes with EDI compliance support to ensure new trading partners are migrated quickly, and you can maintain excellent working relationships with all of the vendors in your supply chain.
Although we often take the cloud for granted now, it wasn’t long ago that cloud technology wasn’t standard in modern business solutions. In fact, the cloud still isn’t standard in all EDI systems – but it should be.
The EDI Cloud allows you to manage your EDI from anywhere with an internet connection. That means you no longer have to be at the office to see shipment updates, monitor inventory levels, or to review previous EDI messages.
Modern business owners are flexible, often working from their phones and tablets as they travel. Your EDI system should adapt to your schedule and work preferences, not the other way around.
Built to Scale
One of the biggest long-term issues with developing an in-house EDI system is the ongoing maintenance and upgrades required to keep your system running smoothly as your business grows. When you outsource your EDI to and EDI service provider, you don’t have to worry about that.
Modern EDI solutions are built to handle enterprise-level data exchange, while still accommodating smaller businesses. Plus, they keep your EDI system maintained and up-to-date with the latest technology without you ever having to worry about it.
Aside from performance capability, the cost is the other major factor in the scalability of your EDI system, which brings us to the next point.
A Cost-Effective Pricing Model
The goal of EDI is to make your business more efficient. You cannot achieve this goal if the cost of your EDI system far exceeds the money you save from it.
Most EDI solutions charge by the kilo-character, meaning the amount you pay each month is directly tied to the amount of data you use. This might be cost-effective for you if your business doesn’t exchange much data and you have no plans of increasing the amount of data you exchange in the future.
However, we’ve noticed that most businesses tend to exchange more data as they grow. That’s why we created Trading Partner Pricing, allowing businesses to send unlimited EDI data each month and only paying for the amount of active trading partners in their EDI network.
This is cost-effective for our customers because their EDI data use tends to grow much quicker than the total amount of trading partners in their EDI network. In fact, many BOLD VAN customers lower their monthly bill by half when they switch from their previous EDI service provider.
If your business is focused on growth, you need an EDI system that’s designed to help you grow as cost-effectively as possible.