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Electronic Data Interchange (EDI)

What is EDI?
In its most basic form, Electronic Data Interchange (EDI) replaces paper-based purchase orders with electronic equivalents. EDI is a computer-to-computer exchange of business documents between companies. A more thorough definition of EDI is, “the exchange of documents in standardized electronic form, between organizations, in an automated manner, directly from a computer application in one organization to an application in another.”

With EDI, computer systems can store data in disparate proprietary data formats and can communicate with one another in an efficient manner. EDI provides easy and cheap communication of structured information throughout the corporate community, and facilitates closer integration and collaboration among different organizations.


Benefits of EDI
EDI is a superior mode of communication between departments and trading partners. It saves unnecessary re-capture of data, which results in increased accuracy, improved timelines, stream-lined business processes, and cost reductions within a company.
  • Time savings: EDI saves time by eliminating the overhead of the paper handling between the trading partner and the department.  EDI data is received, processed, and acknowledged within hours of when it was submitted.
  • Cost savings: Electronic exchange of information is much less expensive than handling paper documents. Studies have shown that processing a paper-based order can cost $70 or more while processing an EDI order costs a dollar or less.
  • Improved accuracy: EDI reduces the number of times the same data needs to be redundantly entered into multiple computer systems. Senders’ transactions are also verified and validated immediately upon receipt, reducing the amount of time it takes to correct invalid or inaccurate claim information.
  • Enhanced Flexibility: Electronic data can be sent anytime to ensure the most accurate and timely information is delivered in an efficient manner. 

Over 80,000 companies have made the switch to EDI to improve their efficiencies. Many of these companies require their partners to use EDI as well.

 

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