The business landscape of every industry has become competitive. Companies are trying their best to outgrow their competitors with the available resources. Luckily for businesses, there isn’t much difference in the access to resources and the way you use the resources at hand makes the difference. No matter what industry your business functions in, technological incorporation in the mainstream of business operations has become mandatory to sustain. By now, there are more than a few examples where companies who failed to digitalize and adapt were swept off the market. An article published by Harvard Business Review reads –
“In 1958, corporations listed in the S&P 500 had an average stay of 61 years. By 1980, numbers from research firm Innosight reveal that the average stay had declined sharply to 25 years. In 2011, the average tenure dropped to 18 years. At the present rate of churn, Innosight’s research estimates three-quarters of today’s S&P 500 will be replaced by 2027.” – Digital Transformation Is Racing Ahead and No Industry Is Immune
What is your business doing to keep up with this digital transformation? Electronic Data Interchange (EDI) helps you to electronically exchange documents between business partners making the overall process, efficient – both in terms of cost and time. Businesses opt for hiring highly trained and experienced EDI Consultants to handle and effectively implement EDI in their operations.
Why Electronic Data Interchange?
Adapting to digital transformation can be difficult, especially when you used to the conventional way of functioning. You have to understand that it’s not merely the trend you have to follow; by choosing to digitalize and innovate, you are opting for a convenient way of business operations and better user/client satisfaction. Electronic Data Interchange comes with a wide array of benefits which can help you not only sustain but also become one of the leaders of your industry. Here are a few of EDI benefits.
It is fast.
EDI helps the exchange of documents between businesses very fast with its simple and straightforward approach. This saves a lot of time and paperwork, making the process more efficient and constructive.
Since many decades, manual errors have been the sole enemy of productivity and efficiency of any business. With a computer to computer transfer of electronic documents(EDI), the probability of such errors is reduced to negligible.
EDI offers your business better chances at strategic management. With live reporting of EDI, you can see the live results of each step of an executed plan. This means your business’ management can have a better vision of what’s helpful and what’s not, for your business.
EDI and Digital Transformation in 2019
In 2019, your business needs to evolve with emerging EDI technology. It is highly advised to seek the help of EDI consultants to adopt the newest EDI trends and stay ahead of your competitors in the industry. It doesn’t matter whether you are a small scale or a large scale operation, follow EDI trends to ace your industry in terms of better function and user satisfaction: EAI (Enterprise Application Integration), start the use of APIs, Managed Integration Services, and such others.
Data Integration Specialists is a group of expert integration and EDI consultants who have years of experience in working with businesses from different industries. Looking for EDI Consultants? Call at 612-840-6753 or fill this form to reach out to us today!