EDI: What is EDI?
Electronic data interchange (EDI) is the electronic exchange of business documents between companies. Fundamentally, EDI is e-commerce that has been in use since before the term e-commerce was coined. Electronic data interchange provides a safe, reliable, secure, and established method of exchanging documents for all industries. The Retail Industry uses EDI documents such as the Purchase Order and Invoice. The healthcare industry, on the other hand, relies almost entirely on the HIPAA Healthcare Claim and corresponding Payment EDI documents. All industries have documents that meet their specific needs.
Organizations have moved away from paper-based data exchange. Currently more than 85% of all electronic business transactions take place utilizing electronic data interchange. This creates major competitive advantages for businesses and their partners. The EDI process has proven to be the most efficient and secure process to exchange business documents globally. EDI is a necessary component to ensure that your organization is achieving operational excellence.
Why is EDI Necessary?
The adoption of electronic data interchange is critical for companies of all sizes to maintain their competitiveness in the marketplace. Over three decades of global usage has proven that EDI improves operational efficiency across your entire organization. Because of EDI’s established value, EDI is often mandated by your trading partner.
What are the Benefits of EDI?
- Efficiency and Accuracy: Data-entry errors are eliminated
- Reduction of Cost: Integration takes the place of additional staff
- Increased Processing Speed: Documents are available in your system as fast as they are received
- Improved Relationships with Your Customers
Download our EDI 101 Guide
EDI is a well-established technology that can be intimidating to the new user. Our EDI 101 Guide is designed to jump start your your EDI education. Learn about the following great topics and more:
- What is EDI?
- Six Good Reasons to Use EDI
- The Process of Exchanging EDI Data
- Four Ways to Implement and Manage EDI
- Five Steps to Empowering EDI
HQXchange is the Most Powerful EDI Platform Available
HQXchange bundles our EDI HQ software, IntelligentXchange and AS2 Complete software solutions with our expert in-house technical EDI support into convenient HQX Professional and HQX Enterprise subscription models, bringing you a new EDI platform with unrivaled depth and flexibility.
1 EDI Source is Here to Help with All of your EDI Needs