You have ideas, concepts, plans and goals to support and run your business. But, what about managing your vast-spread business? Do you still use papers to collect, keep and distribute data and documents? Then, you need to update your business and its mode of operations. There are two major factors that are reliable to run a business effectively, first is execution and another is management. You have everything such as latest technology, skillful management professional and more productive executive employees. But, one thing that has emerged as a boon for businesses is EDI managed Services which is, simply, EDI Consultants for your EDI Software. We at, Data Integration Specialists provide you efficient and effective EDI Managed Services with a Senior Level EDI resource managing your EDI processes either remotely or onsite. (more…)
5 Benefits Of Using EDI For Your Business
In the current hyper-digital market space, it has become mandatory for businesses to keep up with the digitalization and technology upgrades. Companies who have failed to do so have suffered from the lack of customer attention and exposure. In such circumstances, one of the most popular industrial solutions being used is Electronic Data Interchange (EDI).
What Is Electronic Data Interchange (EDI)?
EDI or Electronic Data Interchange is the electronic transfer of documents in a standardized format usually between business partners. It is a form of automation and has a long list of benefits.
EDI not only is a perfect replacement of paperless transaction but also is an apt solution in the time of need. It only makes sense to use EDI instead of manual processes in the modern digital world. The upcoming section discusses a few of them.
Benefits Of Electronic Data Interchange
- The Cost Factor
It doesn’t matter whether you own a small scale business or a large scale enterprise, the cost factor is always one of the primary things you take into consideration. It’s good news for your business as EDI is a cost-effective method of data interchange.
Not only does it save the paper costs, but EDI also cuts any labor cost involved in the whole process. You can utilize the relieved resources to ensure better products/clients for your customers.
- Enhanced User Experience
If you want to stay ahead of your competitors and make your mark in the digital world, user experience is the key.
EDI helps your company to enhance the user experience of your clients/customers to a great extent. It reduces the response time of your business which makes things easier and more convenient for you as well as your users. Enhanced user experience directly impacts your word-of-mouth marketing which increases clients and their reliability on your business.
- Fewer Errors
As mentioned, EDI is a computer-to-computer interchange of electronic documents which is ‘done in a particular format’. EDI, as such, ensures that there are minimal errors in any official documents traded between business partners.
This not only accounts for a healthy business relationship but also shows a professional way of functioning on your part. In the case of paper documents, even a minute error causes huge delay and wastage of resources which is, now, prevented with the use of EDI.
- Strategic Advantages
With its benefits of speed and accuracy, EDI can boost your business cycles by up to 61%! You’d have to wait for business documents for days in a row when sent via manual data entry. But the strategic benefits of EDI emphasizes its use in the modern business system by multiple folds.
EDI helps you to bring real-time visibility in your organization. It allows you to tackle any potential problems at their budding phase which brings order in your organization and accounts for less damage.
To Sum It Up
EDI has become an important part of several companies and you must start using it today! EDI consultants complement your EDI resources by offering the services of a remote coordinator for your software.
Data Integration Specialists (DIS) has years of experience in the industry and offer services such as EDI Managed Services, IBM Sterling Integrator resources, and many such others. Call at 612-840-6753 or fill in this form to contact us today!
EDI: Handling Supply Chain Management and Its Risks
The role of technology in today’s business systems has become inevitable. It doesn’t matter whether you are a small business or a large scale enterprise, technological solutions can help you to make your operations more effective.
With increasing competition in the business landscape, it only makes sense to leverage the power of technology to stay ahead of your competitors. One of the most important challenges faced by today’s businesses is Supply Chain Management.
The risks related to supply chain management or any third party involvement, for that matter, are not new in businesses. It can be the integrity of a supplier, fraudulent data interactions or any such things that can hamper your business to a great extent.
Given today’s demand for quality products and services, businesses can not afford to invest their resources in operations instead of product/service development. Electronic Data Interchange (EDI) comes as a solution offering transparent communication between businesses. Before we move on to the role of EDI in supply chain management, let’s understand EDI basics.
Electronic Data Interchange: A Brief Introduction
Before simply defining EDI, it is important to understand how important it is for modern businesses. It is predicted that the healthcare EDI market will reach a whopping 5.9 billion dollars by 2025 and it is just the healthcare industry. There are more contributing sectors such as e-commerce.
There is more to EDI that what its name defines. Electronic Data Interchange helps businesses to streamline transactions and communication. It eliminates errors, document reviewing, and much more, mending business’ data interchanges and other transactions.
Businesses are prone to supply chain management risks and EDI helps in tackling them. So, what are these business risks in supply chain management?
Risks In Supply Chain Management
Be it of the healthcare industry, retail industry, financial service industry or any other industry, there are multiple risks related to supply chain and its proper maintenance. Not only there is a major risk of data infringement but risks of data tampering and faulty data entries also exist.
As the data and its complexity increase for your company, it becomes important to establish a reliable automated way of data transaction and communication. A data breach in your supply chain management can cost significantly if fallen into wrong hands. This will increase the financial risk attached to data transaction and communication between your business partners.
Also, a minor mistake in data recording/entries could be dangerous and costly. Redoing your orders and mending these tiny mistakes will only increase the overall operational costs of your business. Besides, it also becomes difficult to monitor 100% of your suppliers.
EDI solutions like IBM Sterling Integrator are an established way of data and documents interchange between businesses. They help you define processes and customize it according to your business requirements.
How Can EDI Help Your Business With Supply Chain Management?
In a survey, 72% of businesses accepted that they don’t have any setups to monitor supply chain risks and its management. EDI can help your business carry out automated and fully secure document transactions with your suppliers. This not only reduces the probability of any document errors but also helps you to closely monitor your suppliers and keep a check on any fraudulent practices.
EDI saves time and cuts from your budget. Besides, it allows you to counter any possible errors through live monitoring. EDI Software protects your data against any infringement and accounts for 100% security.
EDI keeps your data in a particular format and thus, increasing its readability. Using iPaaS, you can integrate your EDI software with any other application you use and make the most of it.
To Sum It Up
EDI can be a major tool supply in chain risk management. You can hire EDI consultant for your EDI sterling integrator or other software to ensure that you stay ahead of your competitors and make your mark in today’s overcrowded marketplace.
Data Integration Specialists (DIS) has 20+ years of providing EDI managed services for business of different sectors. Want to know more? Call at 612-840-6753 or fill this form to reach out to us today!
Understanding The Role Of EDI In Today’s Business World
The business world has become very competitive and you need to incorporate the best of technology today in order to stay ahead in the race. Businesses are evolving quickly and the need for developing effective solutions to make your business operations more efficient is emerging on a daily basis. Technological solutions like EDI automation, Enterprise Resource Planning (ERP), and many more are becoming popular among businesses for their wide array of benefits. Electronic Data Interchange is one of the widely acclaimed solutions chosen by businesses worldwide.
A Brief On Electronic Data Interchange
Electronic Data Interchange is an electronic (between computers) exchange of formatted data (usually documents) between two or more businesses. In simpler words, EDI allows a computer-to-computer exchange of information such as business documents between two businesses which usually is done through paperwork and mails. EDI, not only makes the overall process of data interchange simpler, but also enhances the procedure efficiency majorly.
The transfer of documents is carried out by computers and without any external intervention. EDI is basically automation of document exchange (entered in a particular format) between businesses which cuts the chances of error occurrences and other such reasons for inefficiency in your business operations. There are many EDI software companies that have made electronic interchange of documents simple and error-free.
Advantages Of Using EDI For Your Business
Here are a few advantages of using EDI in your business.
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Enhanced Efficiency – Cost and Time
EDI improves the efficiency of your business in terms of both operational cost and time. The costs of paperwork and labor involved in data interchange between businesses are definitely higher than what you might think. Besides, you have to wait for a process to be over in order to report the required documents to your business partner/s. EDI, by making the documents interchange simultaneous, saves a significant amount of time and cost.
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Enhanced Accuracy
Every discussion on EDI is done with the use of the term “formatted document”. This means the documents sent using EDI are read in a particular format which is same at both the ends. This ensures that there are almost zero chances of error occurrences and accurate delivery of high-profile business documents.
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Better Management
EDI allows the management to take better decisions with the use of interchanged documents without any time lag and errors in delivery or others. The major advantages of EDI are at the management level of businesses and thus, effectively boosting the overall efficiency.
There are many such advantages of using EDI software for your business. Choosing the right EDI software for your business is a bit difficult task. Be it IBM Gentran Sterling Integrator or TIE Kinetix eVision Enterprise, it doesn’t matter which EDI Software Company you use for your business, you need the help of experienced EDI consultants to make the most of your EDI Software.
Data Integration Consultants (DIS) has over 17 years of experience in providing EDI managed services for all EDI software providers. Whether you are looking for EDI Consultants for your current software or in search of new software, we can help you. Call us at 612-840-6753 or fill this form to contact us right now!
EDI: IN-HOUSE OR CONSULTANTS?
Gone are those days when the transfer of data and messages was a long, painstaking process, with high possibility of it being riddled with errors. Today, business and organizations make use of electronic data interchange to transfer well-structured data as per the laid down message standards. Big enterprises and large organizations make use of EDI in a supply chain management from payments, invoices, shipping documents, etc, resulting in the elimination of error and saving time that can be otherwise spent on achieving core business objectives.
While years earlier we relied on the manual supply chain processing such as phone calls, post, fax machines for connecting various departments be it manufacturers, retailers, distributors. Aside from minimizing the processing time, mitigating problems related to human errors, it also lowers the administrative cost and saves on resources. This way the internal business resources can be redeployed and predictability can be improved, which will help in enriching the customer experience.
Confused as to whether make do with an in-house EDI system or hire a managed EDI service?
These pointers will help you decide which one will suit your business requirements aptly:
- With an in-house environment, you will be solely responsible for managing all the components necessary for electronic data interchange between the business and the consumers. The elements being providing IT and technical support, establishing and maintaining communication network, monitoring and managing hardware software translation and more. But with an EDI managed service like Data Integration Specialists, you will get a dedicated expert that will be responsible for coordinating every aspect of transaction ERP mapping, trading partner setup, testing and ultimately ensuring that your trading partner base is healthy and growing.
- Then comes the cost and resource factor. With in-house employees, you will have to decide the time, money and other resources which the company has to contribute to buying hardware/software and other IT service. With DIS’ EDI Managed Services, you will get a remote EDI coordinator that will manage the entire EDI health from remote locations with cost-effective models, keeping into consideration the risks to enhance accuracy. DIS EDI experts will help you devise a resource redeployment strategy that will also improve the efficiency of your core functions significantly.
- Your in-house team will be responsible for being available 24 * 7, keeping into consideration the varying timelines of the customers and also ensuring minimal downtime. Monitoring services on your 24*7 and identifying and resolving issues in real time can be very challenging. But with an EDI managed service provider and remote EDI consultant like DIS, which provides Hybrid EDI managed services, your business will get a remote and an onsite EDI assistance by EDI experts, making it a great alternative to 100% remote administrative model.
- With an in-house FTE, you will pay $70,000-$120,000 plus expenses and insurance benefits that add another 25-30%. At a portion of those costs, DIS will run your entire EDI operation from our remote offices. Reduce costs and mitigate risk with the DIS Managed Services model.
You can trust upon DIS EDI managed services to offer comprehensive solutions from trading partner setups, automated scheduling, error handling and more at a reasonable cost. We also dispense proficient ERP mapping solutions that include map fixes, testing, and maintenance on a daily basis.
EDI implementations are intricate processes which take time, effort and produce a cost/risk proponent that is not necessary. Unlike in other organization where one employee is doing so many IT tasks, with DIS Remote EDI consultants, you get dedicated EDI experts that provide remote EDI model which is a framework keeping in mind the cost/risk factors to ensure the organization pays as per the business requirements.
Visit DIS to get the best in class EDI service at an affordable package.