INTRODUCTION TO EDI
Electronic Data Interchange (EDI) is the most efficient way to exchange business documents between business partners.
Sellers and buyers can exchange information in a QUICK, EFFECTIVE, and SECURE manner to allow them to streamline their business process and ultimately lower their costs.
EDI replaces paper, fax, and email in order to successfully exchange business data such as purchase orders, invoices, advance ship notices, and more. It is used by companies worldwide.
WHY USE EDI
Increase your sales
Trading partners may have different requirements, be it the EDI standards version or the data elements. Maintaining and implementing the specifications can be problematic and costly.
EDI creates numerous advantages for small businesses, such as having their products distributed in more stores, therefore increasing their sales.
Make your business grow
EDI gives companies the ability to automate or semi automate their business process which in turn makes the transactions flow faster. Faster procurement and quicker shipment means lower sales cycle, lower inventory levels, fewer out of stock occurrences, all of which can make a difference in a business’s growth.
WHO NEEDS A FAXINATING EDI SOLUTION?
EDI is valuable for companies of all sizes, from very small suppliers to major corporations and government agencies, such as the following:
- Companies that need to exchange purchase orders, invoices, payment remittance notices, advance ship notices, forecast reports, and other transactions with partners who are not EDI compliant;
- Small businesses who want to distribute their products to large chains;
- Companies that do low-volume transactions, typically by fax or email;
- Businesses that are still using fax, paper, and/or email to send their invoices and other documents;
- Companies that are spending too much time and/or money supporting their current EDI solution;
- Users who wish to receive and send transactions in an even more secure environment than FTP and do not want to pay the costs associated with a VAN (Value Added Network).
HOW does it work?
FSI can integrate its exAct™ software and Web portal solutions with many ERP and accounting packages such as MS Dynamics GP®, MS Dynamics NAV®, Sage®, AccPac, Quickbooks®, Acomba®, Simply Accounting®.
Your data is sent to the FSI service center where it is translated into EDI and sent to your trading partner.
The process involves:
- Capturing the data from an original source (exAct™, CSV, XML, import file, etc.);
- Mapping and translating the data to EDI;
- Applying validation rules and accepting or rejecting the acquired data;
- Sending the EDI transaction to the intended trading partner via the exAct™ service;
- Receiving a confirmation from the trading partner to close the transaction.
EDI transactions are sent electronically and always adhere to the current EDI standards.
Ready to discover the FSI solutions?
We have EDI solutions for companies of all types and sizes.