Finance

Transform Your Supply Chain

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.

 

Finance

Transform Your Business with Supply Chain Solutions from Commport 

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.

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.

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Finance

Benefits of EDI in the Financial Industry

EDI helps automate and streamlines your communications with your trading partners. Helping you build strong long term relationships

Finance

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:

Finance

Commport Supply Chain Solutions for Finance

Commport EDI

Commport's Electronic Data Interchange software provides a comprehensive suite of tools for managing and processing EDI transactions, including mapping, translation, and validation of electronic documents. The software is compatible with a wide range of EDI standards, from Custom Flat Files, to ANSI X12, EDIFACT, and XML.

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Commport Cloud EDI

Whether you are just getting started in the world of Electronic Data Interchange or you have low-volume data exchange needs, Commport’s Cloud EDI offers, automation and control to organizations looking to automate their fulfillment processes and become EDI compliant, it is an economical solution, that is easy to use.

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Commport VAN

Commport Value Added Network facilitates the exchange of information electronically between trading partners. Our VAN acts as a single communications link to multiple trading partners. It enables business documents to be transmitted electronically between a diverse group of organizations, nationally and internationally.

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Commport CPS

Harness the Power of CPS, the Ultimate Data Synchronization Solution Uniting PIM and GDSN. Experience Seamless Data Harmonization, Streamlined Collaboration, and Unparalleled Efficiency in Managing and Distributing Product Information. Elevate Your Business to New Heights with CPS Commport: The Future of Data Synchronization!

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Commport GDSN

Embrace Global Data Synchronization (GDSN) and Ignite Seamless Collaboration Across the Supply Chain. Explore the Key Elements, Integration Opportunities, and Data Standardization Techniques to Optimize Product Data Exchange. Unleash the Potential of GDSN and Unify Your Data Ecosystem for Enhanced Efficiency and Accuracy in the Digital Era!

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Commport PIM

Unlock the Power of Product Information Management (PIM) and Propel Your Business to New Heights using highly enriched product data. Discover the Benefits, Strategies, and Best Practices to Streamline Product Data, Enhance Customer Experiences, and Drive Sales. Dive into the World of PIM and Revolutionize Your Product Management Game!

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COMMPORT

Common EDI X12 Transaction Codes Used in the Retail Industries

EDI X12 Transaction Number EDI Transaction Name / Document Type
EDI 248
Account Assignment/Inquiry and Service/Status
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EDI 810
Invoice
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EDI 811
Consolidated Service Invoice/Statement
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EDI 812
Credit/Debit Adjustment
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EDI 818
Commission Sales Report
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EDI 819
Operating Expense Statement
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EDI 820
Payment Order/Remittance Advice
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EDI 821
Financial Information Reporting
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EDI 822
Account Analysis
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EDI 823
Lockbox
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EDI 824
Application Advice
EDI 827
Financial Return Notice
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EDI 828
Debit Authorization
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EDI 829
Payment Cancellation Request
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EDI 831
Application Control Totals
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EDI 859
Freight Invoice
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EDI 980
Functional Group Totals
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COMMPORT

EDI Statistics

%
Commport resolves 51% of its service cases in less than 24 hrs.
%
The Commport network boasts 99.99% uptime.
Documents are received by Commport and sent out in 60 seconds
Commport translates/transmits documents for more than 6,000 users annually.

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Partners

A small sample of our many partners

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What People Say About Us

Discover the transformative impact of our EDI, CPS, and VAN solutions through the powerful testimonials of satisfied clients who have experienced remarkable results with Commport products and services.

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