In Ye Olden Times, a buyer would create a purchase order, print it out, and then mail, fax, or carrier pigeon it to their supplier. The supplier would read the PO and carefully re-enter the data into their internal systems and create an invoice. The invoice is printed out, faxed or sent back to the buyer. The buyer then enters the invoice data into their internal system for processing.
Sound time consuming? You’re right. Repetitive? Right again. Lots of potential for mistakes? Bingo. It doesn’t take a genius to realize this is the wrong way of doing business.
Luckily, that’s where Logicblock comes in. Our powerful 7cart eCommerce platform is designed to solve problems like this. Logicblock’s integrations allow for Electronic Data Interchange, guaranteed to cut down on repetitive, time-consuming paperwork that creates opportunities for mistakes. With EDI, Logicblock streamlines and automates as many processes as possible, so you have more time to focus on the bigger picture.
Using EDI means you’ll increase the accuracy and speed of the purchasing process, while lowering transaction costs by 30% or more. In the end, you’ll end up spending less time waiting for payments while you lower the room for error.
What exactly is EDI? We’re so glad you asked!
EDI – A Little Name for a Big Deal
c, or EDI, is an automated system used by businesses to exchange and transfer documents and data electronically. EDI streamlines the process of sending and receiving important documents, such as orders, invoices, payments, and shipment information. It enables businesses to send and receive orders quickly and efficiently, improving their overall operations.
How Does it Work?
First companies agree on the standards they will use to ensure their documents are compatible. They then create messages and forms in the standardized format that they both understand. The EDI system then translates these documents into an agreed-upon language so they can be sent over the internet. On the other end, another EDI system translates the message back into the desired format so it can be read. This process can take some time to set up, but once in place, EDI saves time every time.
For ecommerce businesses like yours, EDI is a must-have tool for success. In the online world, it’s essential to have a reliable way to communicate with both customers and suppliers. EDI enables companies to securely and quickly exchange important data with partners around the globe in real time.
What’s That Mean for Your Business?
Simply put, EDI eliminates manual processes, reduces paperwork, and improves accuracy. As a result, businesses save time, money, and resources by automating document processing. EDI also helps businesses stay compliant with industry standards and regulations. By using EDI, businesses can keep up with the demands of today’s rapidly changing digital economy.
Let’s take a closer look at the benefits of EDI, and how it works for you.
What Are the Benefits of EDI?
With Electronic Data Interchange, Logicblock helps to reduce costs, speed up business processes, and improve accuracy by automating data exchange between businesses and eliminating manual entry. Introducing EDI into your online store will quickly reap these benefits.
Optimize Your Labor
If you have a small team, every moment counts. Do you want employees focused on paper pushing, or on growing the business? With EDI, transactions can be completed quickly and accurately without manual intervention, allowing companies to process large volumes of orders with less labor and faster turnaround times. This allows a small sales team to satisfy a larger customer base, while maintaining excellent customer service.
Keep It Safe
EDI increases security by eliminating the need for repetitive manual data entry. Entering the same data over and over again isn’t just an invitation for errors, it’s unsafe.
Imagine you’re checking out at the grocery store, and to pay with your card you have to say your credit card number, date of expiration, and 3-digit security code loud enough for the cashier to hear it. The cashier repeats all of your credit card data back to you, while other shoppers and employees are within earshot. You wouldn’t feel safe doing that in person, why do it online?
With EDI all exchanges are done electronically, providing a secure platform for exchanging confidential information. No more orders getting lost in the mail, or crossing your fingers that a money order doesn’t end up in the wrong hands.
Don’t Miss a Cent
To err is human, and errors can add up to real losses. Reducing the risk of human error saves money in the long run.
The Numbers Don’t Lie
At Logicblock we love hard data, so let’s take a look at the numbers. Businesses who utilize EDI:
- Increase business cycle speeds by 60%
- Reduce errors by as much as 40%
- Cut operating expenditure by 30% when you replace paper, printing, reproduction, storage, postage, and filing with online ordering
Here’s a benefit you didn’t expect: by implementing a paperless ordering system you reduce CO2 emissions, taking one large step towards a carbon neutral office.