Electronic Data Interchange (EDI) is the exchange of information, business documents, and other data between business partners. Instead of using paper documents, EDI allows businesses to safely and quickly send data electronically.
A wide variety of industries have relied on EDI for decades to communicate with vendors and other business partners, while keeping their supply chain running smoothly. In fact, many companies require all of their vendors to use EDI.
THE BENEFITS OF EDI
There are several reasons your business should consider using EDI, but it primarily comes down to improved efficiency. The electronic exchange of data is simply faster and cheaper than manually sending paper documents.
The benefits of EDI extend far beyond cost savings. EDI software and services can drastically speed up your business cycles and save you from a lot of hassles that arise when dealing with paper documents.
IMPLEMENTING EDI SYSTEMS WILL:
- Eliminate all of the costs associated with printing, mailing, retrieving, and filing paper documents
- Reduce errors that occur from manual data entry
- Deliver transactions in seconds, instead of days or weeks
- Display real-time tracking of information
- Lower your labor costs
- Prevent the need for using outdated and frustrating fax machines
Using an EDI network helps your business fulfill orders quicker, get paid faster, and maintain optimal inventory levels. Ultimately, EDI ensures your business operations are smooth and consistent ─ a win-win for you and your customers!
HOW EDI WORKS
EDI makes business transactions quick, easy, and predictable. The process isn’t near as complicated as it might sound.
First, a document is prepared by collecting the necessary data for the transaction. For example, a buyer places an order and a digital purchase order is created.
That purchase order is then converted by EDI translation software into an EDI document format. The various EDI document formats are universal across all EDI networks, so you never have to worry about a document not getting translated properly between you and your trading partners.
Once the information has been translated, it is securely sent to you through the internet or a Value-Added Network (VAN).
From there, your EDI application then translates the purchase order back into a standard purchase order document format and your system can start automatically processing the order. You and your trading partner will be able to track the progress of the order in real-time.
Unlike some EDI service providers, BOLD VAN is an all-in-one solution that provides all of the hardware and software you need to implement EDI. The only things you will need before sending any EDI transactions are internet access and email.
ALL EDI DATA SENT THROUGH BOLD VAN IS PROTECTED BY
USER AUTHENTICATION
ENCRYPTION
In addition to speed and accuracy of document transportation, reliability and security are also top priorities for EDI providers.
HOW TO GET STARTED WITH EDI
Getting started is quick and easy. We handle all of the technical requirements for you and ensure the EDI implementation process doesn’t interfere with your business operations at all.
The individual trading partners you work with will have their own EDI requirements that are specific to your industry. Fortunately, BOLD VAN also works with you to make sure you are compliant with all partner-specific requirements.
TYPICALLY WE CAN HAVE YOUR EDI IMPLEMENTATION COMPLETED IN A COUPLE OF HOURS, SO YOU CAN START SENDING EDI DATA IN LESS THAN A DAY!