EDI is nothing new, its been around for many years. For multiple industries, EDI plays a key role in their company. Many business owners choose EDI because it saves them money and while that’s normally the case, EDI has many more benefits you should know about.
In this article, we’re going to be discussing the benefits of EDI, some are well known, others not so much.
(1) Workflow Efficiency
- One of the biggest EDI benefits is how efficient it can be to your workflow.
- With EDI automation, you can avoid overstocking and under stocking.
- Productivity can increase because your team can focus on more important tasks.
- Since you won’t have staff focused on data and errors, you’ll be able to allow them to focus on workflow that adds to your bottom line.
(2) More Speed And Accuracy
- Manual tasks takes time and when you’re entering data manually, mistakes are going to be made. With EDI, you can reduce your mistakes and errors by 40 percent or more.
- If you’re not using EDI, transactions can take days, even weeks to be completed. If you have EDI, those transactions are going to be completed a lot faster.
- It’s also a big benefit to your business cycles, allowing you to speed them up by over 60 percent.
- EDI can shorten your order processing and delivery times as well, allowing you to reduce your inventory levels or replenish them as needed.
- Yes, this is one you likely know but it’s one of the top benefits of EDI.
- When you go digital, you reduce and eliminate your need for paper, printing, filing, storage, postages.
- Lost orders and faxes can also lead to higher costs, EDI can lower these too.
- A large electronics manufacturer calculated the cost of processing an order manually at $38 compared to just $1.35 for an order processed using EDI, which is a huge savings.
(4) Strategies Using EDI
- For those of you that are thinking about growing your business, EDI gives you the opportunity to enter global markets.
- EDI can give you real-time data on the spot, exactly what you need to make strategic decisions for your company. You can see your EDI transactions as they’re made, giving you the opportunity to react immediately.
- Another benefit you don’t hear as much is that it shortens your lead times for new products.
- It’s also good for the environment as you’ll be reducing and eliminating your need for paper.
There’s no question about it, EDI can improve your business in many ways. Another way to improve your business with EDI is EDI 852. If you’re a retailer, you know what EDI 852 is. It’s referred to as a Product Activity Report. It gives you data on your products and inventory.
Working efficiently with EDI 852 data requires a good analysis tool like Accelerated Analytics®. Otherwise, the merchandise planner is left to sort through line after line of data to find problems and opportunities. By using Accelerated Analytics®, the routine tasks of formatting and consolidating data are eliminated, and exception logic can be used to save time.
The Accelerated Analytics® team understands how to work with EDI 852 data. If you’re ready to see how EDI 852 can help your company thrive, reach out and let us show you. Click here and we’ll be in touch soon. If you want to see our demo, that’s fine also, just click here.