EDI in finance typically uses two standards: X12 and EDIFACT. X12 is the most widely used standard in the United States, while EDIFACT is more common in Europe.
Given the security, cost-effectiveness, reduced errors and cost, it is time for your organization to empoy EDI in your daily financial operaitons.
To get the most out of your
Electronic Data Interchange solutions
EDI Here cares about your business. As a partner in your growth, we want to be there.
We take your expectations and demands seriously.
We are a top supplier of EDI-as-a-service. It is our mission to consistently fulfill our commitments. We have a track record of success in assisting our clients in enhancing their business operations.
Introduction
Integrated and Centralized Solutions
for Banking and Finance
Featues
Why Should You Choose EDI Here as Your Software-as-a-Service?
Reduce the likelihood of fraud
Improved precision and streamlined processes facilitate the tracing and monitoring of transactions, thus reducing the likelihood of fraudulent activities being committed.
Faster data processing
Paper-intensive financial processes are now simplified with our EASS platform. Reduce significant time spent on day-to-day operations like letters of credit, pre- and post-shipment financing, dispute management, foreign currency, and insurance management, etc.
Customized solutions
EDI-as-a-Service can be customized to suit your specific requirements. When required, we provide support; otherwise, we provide automation. Never miss a beat, and your success is guaranteed.
Best business practice utilization
At EDI Here, we apply the best practice for Finance, which is Vendor Managed Inventory (VMI) and Just-In-Time (JIT).
our services
Frequently Used EDI Messages in Finance
EDI Here has you covered with all the most frequently used EDI messages in the Finance sector.
Multiple Payment Order (PAYMUL)
As the name suggests, multiple payment orders are exchanged between firms using this message. A payment order is a written directive given to a financial institution to pay a third party. It is also used to exchange payment orders for other purposes, including paying employee wages or suppliers in bulk.
Multiple Credit Order (CREMUL)
A variety of credit orders are traded between businesses with this message. A credit order is a piece of paper that tells a bank to credit a third party's account. Credit orders can be exchanged using the CREMUL to give customers refunds and pay suppliers for goods that customers have returned.
Direct Debit (DIRDEB)
This transaction message is sent between companies to start a direct debit transaction. A firm can take money out of a customer's bank account directly with a direct debit payment option. One-time payments, such as insurance premiums or subscription fees and collection of money for goods or services are other usages of this message.
Multiple Debit Order (DEBMUL)
An order to debit a third party's account is known as a debit order and is sent to financial institutions. The DEBMUL message can be used to exchange debit orders for purposes like receiving payments from clients or making recurring payments, e.g. insurance premiums or subscription fees.
Financial Payment (FINPAY)
This message is all-purpose and can be used to send and receive several types of financial data, including payments, credits, and debits.
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One-stop EDI resource for beginners and pros
Discover the inner-workings of EDI, for every Transaction Sets, Segments, and Elements, from its definition, to its types, uses these to validate EDI documents.
What is EDI: Electronic Data Interchange?
EDI, or Electronic Data Interchange, is a technology that helps trading partners and organizations get more…
