“EDI payment process involves the exchange of electronic documents and the automation of financial transactions, allowing businesses to streamline and automate their financial processes” Introduction to EDI Payments EDI payments refer to the use of EDI to facilitate the exchange of payment information between two parties. This can include information such as the amount of […]

Introduction to EDI in Finance In this new era of digitalization, the growth of international trade has created opportunities for trade between buyers and suppliers across the globe, resulting in the globalization of the financial supply chain. It involves many different processes to exchange information such as differences in currencies, accounting regulations, and other financial […]

What is Dropshipping? Dropshipping or DTC (Direct to consumer) is a fulfillment method where a retailer sells the product to its consumers via its online e-commerce store but does not keep the products in stock. Instead, the retailer sends the order information to its supplier and asks them to fulfill the order for its customer […]

What is 3PL? A 3PL provider is a third-party logistics company serving as links in outsourced distribution and fulfillment stages of the supply chain. 3PL companies provide full-scale logistics services such as transportation, warehousing, customs clearance, and other logistics-related activities. Basically, 3PL helps outsource a part of or a full logistics operation to a logistics […]

Introduction For over 40+ years the retail industry has been using EDI to replace its paper-based system and started exchanging documents like purchase orders, invoices, and ship notices with their suppliers/business partners using EDI. Retail businesses usually exchange high volumes of order data and EDI solutions can help in exchanging this large volume of data […]