Hi Zuber,
What is EDI?
EDI stands for Electronic Data Interchange. EDI is the computer-to-computer exchange of business documents between companies. EDI replaces the faxing and mailing of paper documents. EDI documents use specific computer record formats that are based on widely accepted standards. However, each company may use the flexibility allowed by the standards in a unique way that fits their business needs.
For Example:
EDI is used in a variety of industries. In fact, over 80,000 companies have made the switch to EDI to improve their efficiencies. Many of these companies require all of their partners to use EDI.
Why it is useful?
More and more customers want their suppliers to have the ability to reliably exchange EDI documents. They are under pressure to reduce their procurement process costs by automating manual processes such as invoice data entry.
Because EDI is so efficient, many companies require their business partners to be EDI capable as a condition for doing business.
Suppliers want to develop closer customer relationships. They want to make themselves less expensive to buy from by reducing the administrative burden on their customers.
There is a continuing need for most businesses to increase efficiency. Suppliers are finding they can reduce costs by automating B2B (business-to-business) processes with EDI. Money is saved through improving the speed and accuracy of electronic documents they exchange with their customers.
I think this will helpful for you.
Reward points if useful.
Cheers,
Swamy Kunche.
Bluesky
