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 transactions/documents. Using EDI in the financial process mitigates this risk by automating the data exchange process in a standardized format, enabling the seamless, accurate, and timely exchange of financial data between buyers, sellers, and their financial institutions.

Commport Industries -  Finance


Electronic Data Interchange (EDI)  is widely employed by commercial firms to initiate transactions with their financial services counterparties. EDI facilitates financial supply chain transactions like the direct deposit of payroll checks by employers, the direct debit of consumer accounts, and also the electronic payment of government taxes by businesses. With the increasing emphasis on security, the financial services industry has added variety of secure communication protocols together with the more common ones used for other industries.

The most common EDI standard used in North America is EDI ANSI X12 transactions. There also other popular EDI standards are also used across the world such as UN/EDIFACT, SWIFT, and more

EDI in the finance industry helps businesses, financial institutes, and governments with the seamless transmission of financial information on a massive scale by automating the entire transaction cycle and reducing the dependency on the manual labor-intensive process.

Benefits of EDI in Financial Industry

Payment Automation

Automate payments to suppliers/vendors, payroll processing, accounts payable/ receivable, and more

Highly Secure & Reduce Errors

Securely exchange financial information between banks, suppliers, and trading partners. Reduce errors caused by manual data entry

Improve Cash Flow

EDI helps you collect your payments faster and more efficiently thus improving overall cash flow

Reduce Data Processing Cost

EDI reduces the turnaround time to process the data by processing them electronically in a standardized format and exchanging information in minutes thus reducing the costs of manual data processing

What is Electronic Data Interchange?

Electronic Data Interchange is the transfer of large amounts of information in a specified format between business partners.  Here are the following ways EDI benefits your business:

Bi- directional format, sending/receiving computer systems communicate, confirm receipts, and report errors.

EDI users conform to a higher security standard than normal internet data transfers.

Eliminates human intervention by reducing manual processes, human intervention needed only when errors arise.

Flexible enough to pertain to multiple to various business models.

Common EDI Transaction Codes for Financial Series (FIN)


EDI X12 Transaction Number

 EDI Transaction Name / Document Type

EDI 248

Account Assignment/Inquiry and Service/Status

EDI 810


EDI 811

Consolidated Service Invoice/Statement

EDI 812

Credit/Debit Adjustment

EDI 818

Commission Sales Report

EDI 819

Operating Expense Statement

EDI 820

Payment Order/Remittance Advice

EDI 821

Financial Information Reporting

EDI 822

Account Analysis

EDI 823


EDI 824

Application Advice

EDI 827

Financial Return Notice

EDI 828

Debit Authorization

EDI 829

Payment Cancellation Request

EDI 831

Application Control Totals

EDI 859

Freight Invoice

EDI 980

Functional Group Totals

Commport EDI Statistics

Commport resolves
of its service cases in less than 24 hrs.
The Commport network boasts
Documents are received by Commport and sent out in
Commport translates/transmits documents for more than
users annually.
Customer service executive working at Commport office

We are here to help you regardless of your business situation. Become compliant today and run your business successfully. Get in touch with the Commport team now!

Whether you are a small company or a large enterprise, our trading partner and document implementation solutions will help you to improve efficiency and collaboration within your trading partner community.

Because making your business more efficient is our business


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