Compello explains industry relevant words and techniques, as typical buzzwords

 

What is EDI?

EDI – Electronic Data Interchange – is the process of using computers to exchange electronic information such as business documents between companies.
Companies use EDI software to replace hard copy transactions with electronic transactions and to communicate with other companies electronically, system to system. EDI works as a collective interface between two or more software programs and can read and understand different data files so that they can be sent between different systems with no manual intervention.

 

Oppurtunities when using EDI

EDI allows transactions to be handled automatically. The following document types can be exchanged using EDI:

  • Tenders
  • Orders
  • Order confirmations
  • Invoices
  • Delivery instructions
  • Payment documents
  • Transport documents
  • Customs clearance
  • Price adjustment and product information transfer

 

Advantages of EDI

  • High level of accuracy. Data is recorded only once
  • Electronic exchanges faster than standard post
  • Paperless communication also saves time and money
  • Better service and documentation for customers. Better management and freeing-up of human resources
  • Eco-friendly. Reduced need for paper for business documents
  • Fewer obstacles to trade. Language barriers are broken down using EDI
  • International trade is simplified. Customs clearance takes less time using EDI

 

EDI at Compello

Compello has more than 15 years of experience of the development and installation of EDI software and handles many millions of EDI transactions every year.

Compello EDI is typically used by:

  • Energy sector companies which communicate with one another, e.g. sharing meter reading data.
  • Companies working with e-commerce, e.g. sending orders to suppliers, receiving order confirmations from suppliers, tracking orders for end customers, etc.
  • Companies in the textile industry communicating with one another
  • Health companies that share sensitive data, such as patient records

Find out more about Compello EDI here.

Compello has more than 15 years of experience of the development and installation of EDI software and handles many millions of EDI transactions every year.

Relevant terms to EDI: EDIFACT, Ediel, Elhub, NBS

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