EDI transactions, documents and files refer to the EDI messages that are exchanged between trading partners. Some of the most common business documents exchanged as EDI messages are purchase orders, invoices and advanced shipping notices (ASNs). In Europe EDI transactions are most commonly processed using the EDIFACT or Tradacoms standard.
Although EDI has been around for decades the amount of EDI transactions taking place doesn’t look to be slowing anytime soon. In a 2019 Forrester Analytics report into EDI usage across the UK, Germany, France, Spain and Italy, EDI sales accounted for £1.4 billion of total B2B web sales and is projected to reach nearly £2 billion by 2024.
What are the benefits of EDI Transactions?
EDI helps businesses save significant costs by replacing manual labour-intensive, paper based processes with the automated exchange of electronic equivalents.
In a GS1 report they estimate that UK businesses can save on average £14 per order and £8.50 per invoice when using EDI compared to manual processes. These cost savings are possible by automating the transferal of messages between trading partners, improving supply chain speed and eliminating admin errors.
Who are EDI files for?
EDI can be used by any business looking to improve the efficiency of its message exchange with its trading partners.
EDI is a trading requirement for businesses in the UK who are looking to operate in a variety of industries. For example, many large retailers stipulate that their suppliers must transact EDI messages with them in order to win a contract.
How to start processing EDI documents?
If the continuous processing of paper-based documents is starting to become a drain on internal resources or one of your customers has mandated EDI, it is time to start trading with your partners electronically.
We’ve been helping businesses make the most of EDI for decades, using our in-depth experience of all aspects of electronic trading to design a managed service solution that can be tailored to meet the precise requirements of all organisations, small, medium-sized or large, in a diverse range of sectors.
The TrueCommerce EDI Solution
Underpinning our leading entry-level web EDI and integrated EDI solutions the TrueCommerce EDI managed service enables you to capitalise on the benefits of EDI, regardless of your size, sector or technical capabilities.
Whether you need to trade via EDI with one or more of your customers to meet their trading requirements or you are looking to roll out EDI to your suppliers to improve efficiencies, the TrueCommerce EDI managed service will enable you to do so.