How Implementing EDI Can Increase Profits for Your Company
Are you hesitant to move to EDI because of the cost?
Actually, there are many reasons why utilizing EDI will increase, not decrease, your profits. Besides building closer business partnerships with your current customers or vendors, EDI capability is something that you can use to help you attract new business.
Many organizations are moving completely to EDI and are looking for partners who are already EDI capable so that testing, setup, and implementation are quick and easy. Making it known that you are EDI capable is sure to bring you new business!
EDI capability also offers you the opportunity to cut costs, which, in turn, leads to increased profits. The reduction or elimination of manually entering information can greatly increase your efficiency.
We all know that errors can often occur when data is manually entered, which can lead to delays in shipping and possible chargebacks. With EDI, much of the manual entry can be eliminated which helps your organization increase productivity and have better control over your operations. By automating your processes and transferring information accurately and faster than with your manual process, costs are reduced.
The productivity of your company is imperative to your success; utilizing EDI in multiple aspects of the organization can make you even more productive. From accounting to warehousing, EDI can be implemented to help your organization be more effective.
For example, transactions such as the 820 Payment Order, allows you to reconcile receipts and payments much faster, which allows for better cash flow. The 812 Credit/Debit Adjustment provides you the opportunity to process credits and debits in a timely manner, once again impacting your cash flow.
By using the 852 Product Activity Data document, you can receive sales, inventory, and other product activity information from your trading partner. This information will enable you to plan production, control low inventory levels, and better maintain in-stock levels. Utilizing these transactions can facilitate the competitive advantage you are looking for over your competitors.
Feel free to contact 1 EDI Source to discuss in more detail how implementing EDI can help your organization become more efficient, marketable, and profitable. We offer a variety of products that will suit your company’s needs, and would welcome the opportunity to discuss how we can help you move to a viable EDI solution!