Electronic data interchange is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements.
Electronic data interchange continuous to prove in major business value by lowering cost, improving speed, accuracy and business efficiency. The greatest electronic data interchange benefits is offered at the strategic business level.
Here are the benefits of electronic data interchange b:-
1. Cost saving:- expenses of paper, printing, production, stories, feeling, postage and document retrieval are eliminated by use of electronic data interchange transaction.
2. Speed and accuracy:- electronic data interchange can speed up the business by 60% more. As actions transaction are done in minutes rather than in days or weeks.
3. Business efficiency :- The staff can concentrate on the higher value task and it provides them with the tools to be more productive.
4. Strategic business level:- Enables real-time visibility into transaction status. This in turn enables faster decision making and improve responsiveness to changing customer and market demands.