EDI 845 - Price Authorization Acknowledgement / Status
The EDI 845 - Price Authorization Acknowledgement Status is a type of electronic data interchange transaction set that is used by vendors or manufactures to transmit specific data related to the status of or changes to a contract to retailers and distributors
A EDI 845 Price Authorization Acknowledgment/Status is a type of electronic data interchange transaction set that transmits specific data dependant to the status of / or changes to outstanding price authorizations. EDI 845 enables a vendor or manufacturer in the transmission of specific data which is related to the status or any kind of changes associated with the authorization of outstanding prices. This document is most commonly used in the pharmaceutical industry but can also be used in any manufacturer-distributor relationship.
This electronic document complies with the ANSI X12 EDI specification.
Benefits of EDI 845
All EDI documents are securely encrypted in transit, allowing manufacturers to quickly alert trading partners to relevant contract changes that impact pricing. Sending an EDI 845 via edi eliminates errors from manual entry which can result in pricing discrepancies. Accurate pricing is also key to reducing costly chargebacks and manual reconciliation processes which delay revenue and negatively impact trading partner relationships.
EDI 845 Components
The 845 document includes:
- Vendor number
- Vendor contact information
- Distributor contact information
- Contract information (contract number, eligible party)
- Start and Expiry dates of contract
- Product identifiers, such as SKUs or UPCs
- Updated price information for each product or product set
EDI 845 Specifications
The EDI 845 X12 Transaction set is used to transmit specific data related to the status of or changes to a contract to retailers and distributors in an industry-standard specified format.
ANSI ASC X12
The American National Standards Institute (ANSI) chartered the Accredited Standards Committee (ASC) X12 to develop uniform standards for inter-industry electronic exchange of business transactions, namely electronic data interchange. ASC X12 also contributes to UN/EDIFACT messages that are used widely outside of the United States.
Electronic Data Interchange (EDI) is defined as the electronic communication process for exchanging data amongst trading partners without human intervention. Simply put, EDI provides a technical basis for commercial “conversations” between two entities, either internal or external.
EDI encompasses the entire electronic communication process including:
- Transmission
- Message Flow
- Document Format
- Software Used to Interpret Documents
An Integrated EDI solution translates your inbound documents, like purchase orders, from your trading partners’ EDI files into a format that can be imported directly into your ERP, accounting or other business system.
When you’re ready to send out invoices, PO acknowledgments or other outbound documents, it takes the format exported from your system and translates it into the EDI formats required by your trading partners.
Commport’s Integrated EDI solution has no complicated or expensive software to install, and no need for you to be an EDI
expert or create your own mappings
The solution grows easily as your business grows and adding new customers is easy.
Translation is fast and reliable – so you can focus on your business
Key Features of Commport's Integrated EDI
- Documents flow into and out of your business system without any human interaction.
- Commport handles all of the ‘EDI’ work.
- No delays between your customer sending an order and you receiving it.
- Reduce manual effort
- Eliminate errors
- Improve cash flow