EDI instrument for your enterprise
EDI can offer a host of benefits for your business, helping you to optimise processes through automation, while maximising growth and profits. To get the most out of your investment in EDI, it is important to choose EDI software that integrates into your existing business systems and has the features you need, both now and in the future.
What is EDI software and what features do you need to look for when choosing EDI software for your business?
What is EDI?
EDI stands for Electronic Data Interchange. It refers to the secure, automated exchange of electronic documents between businesses, using a standardised format to allow the computer systems on both sides to communicate with each other. Without EDI, many processes and transactions must be carried out manually, using time-consuming processes with a high cost and risk of human error.
EDI Software Comparison
When looking for EDI software for your business, it’s important to compare key factors such as the cost, features, and integration capabilities with your current system, as well as the level of support provided by the EDI provider, and their experience and reputation, particularly within your sector.
Key Features of EDI Software
To ensure your business gets the most out of your EDI software, it’s important you find a solution that optimises automation, while meeting your business needs in an efficient and cost-effective way. To achieve this, you should look out for the following core features:
Systems integration
For optimum results and ROI, your EDI system must integrate effectively into your other business and accounting systems. This eliminates time-consuming manual processes and, as a result, reduces the risk of human errors. If your EDI system doesn’t integrate effectively into your existing systems, it will add little value to your operations beyond enabling you to comply with your customers’ EDI requirements.
User experience
Multiple areas of the business will need to be able to access EDI messages quickly and accurately. As a result, your EDI software should be user friendly and easy to use by teams across all departments.
What is EDI?
Download our beginner’s guide to EDI produced in conjunction with GS1 Ireland for a non-technical overview of EDI.
Scalability
As your business grows and evolves, your EDI software will need to evolve too. Find an EDI solution that allows you to implement the features you need now, and add more features if you need them in the future. For example, if you need to just trade with one customer, web EDI software may be suitable but as you win more clients that require you to trade via EDI, integrated EDI software would become more appropriate.
Total cost of ownership
When it comes to budget, total cost of ownership (TCO) is the key figure. The option that’s cheapest to buy initially, won’t necessarily be the most affordable over its lifetime. Monthly network charges, maintenance fees, updates, and support can all add up if they are charged for separately. Make sure you find out what is included in the initial purchase price and get a clear breakdown of any other fees you may incur on top of this.
Onboarding
Your business needs the ability to onboard new trading partners quickly and efficiently. So, when comparing EDI providers, ask about their onboarding process and which elements they will manage on your behalf.
Product support
Ideally, look for an EDI solution that is fully managed by a single provider, including development, maintenance, and support. Some providers rely on third parties – for example, using systems integrators. This can lead to problems if you require support.
You should also ensure that an adequate level of support is available, for example, if your business operates 24/7, is round the clock EDI support available.
Hosted, web-based EDI
The EDI-as-a-Service from EDI Here is increasingly web-based. These cloud-based solutions offer a number of advantages, including simplified internal systems, better data access, and fewer security and connectivity issues due to the availability of a first class infrastructure.
EDI-as-a-Service provides a range of EDI solutions delivered as a fully managed EDI service to meet the requirements of small, emerging, mid-market and enterprise businesses. Find the right EDI solution for your requirements.
You can also contact us for further information on how we can help you maximize the benefits of EDI.
