Top 18 Benefits of Internet EDI
There are many benefits of internet EDI from automation to cost reduction and many more. Because of these benefits, businesses of all sizes are today planning to invest in an EDI solution to digitalize and improve their B2B communications with trading partners.
1. Automate the process
Eliminate manual Processes and run 24/7 fastening business operations
2. Improve planning process
Companies can plan better thanks to the information available via EDI to make a better decision. One example is checking real-time inventory and ordering for new stocks when there is a dip.
3. Increase customer satisfaction
Faster processing and delivery times, help trace and track order status in real-time, and offers, peace of mind for the customer
4. Reduce Errors
By eliminating the manual paper-based processing, companies can now worry less about manual errors
5. Streamline all your business processes
By embedding EDI within your business process, you can automate the document transaction and translations between the internal/external systems as per the individual system requirements
6. Real-time update
Companies using the EDI system can compile the information from different systems easily and make better decisions
7. Cut costs
By switching to internet EDI solutions, companies can cut costs as the system requires minimal to no prior EDI knowledge to use, less IT infrastructure is required, and no software needs to be installed or maintained
8. Improve Data Exchange
Companies often depend on multiple channels to resource and exchange information to full fill the customer needs and with the help of EDI solution this exchange of information between companies can be faster and improve overall business operations
9. Smart stock management
Many companies in the eCommerce and Logistics industry know the importance of stock management and need to keep track of all the inventory data up to date to make better business decisions. An effective EDI solution can help in smarter managing of stocks, further reducing the pressure in the supply chain.
10. Less Paperwork
Anything within the supply chain requires a lot of paperwork like order slips, inventory information, purchase orders, and many more, with paperwork comes human intervention, where the data must be entered manually and in turn creates errors with data processing, so to avoid all these disruptions within the supply chain, EDI solutions can make this entire process automatic and paperless.
11. Improved Return on Investment (ROI)
Within a few months of implementing EDI most businesses see a marked drop in outgoing costs (paper, printing, and filing supplies) and man-hours dedicated to information processing thus improving business cash flows and ROI.
12. Increased Efficiency
Because of EDI automation, manual work is fully eliminated, thus reducing errors and improving productivity.
By eliminating the paper-based process, you’re not only reducing your errors but also contributing to the environment by supporting the green eco-friendly initiatives
14. Enhance transaction security
EDI enhances the security of transactions by securely sharing data across a wide variety of communications protocols and security standards
15. Speed and Accuracy
EDI can speed up your business cycles and exchange transactions in minutes instead of the days or weeks of wait time. Also help reduce order-to-cash cycle time, improving business partner transactions and relationships
16. Improve your supply chain
EDI enables you to optimize your supply chain as it automates business transactions, speeding up communication and reducing the risk of errors throughout the supply chain
17. Better optimize your internal process
As business transactions are sent machine to machine, your digital trading processes are improved. EDI gives you reliable information, so you spend less time interpreting your data and enables you to make proactive decisions.
18. Easy business partner integrations
Adding more business partners is easy with internet EDI solutions, The adaptability of EDI facilitates the flow of communications and, in general, improves business relations with any partner.