5 Benefits of EDI Technology

Electronic Data Interchange (EDI) is the process of exchanging business data and documents in a standard electronic format. While traditional email isn’t going anywhere soon, EDI provides a more secure data-sharing standard that many enterprises rely on for their internal and external communications. EDI documents can be easily shared and distributed to enterprise applications in real time.

Benefits of EDI Technology:

• Accuracy: EDI technology reduces the chance of errors because it automatically populates databases and applications with information instead of relying on a second party to fill it in themselves. Improved accuracy offers obvious business advantages, such as the avoidance of excessive charges brought on by inaccurate shipping information.
• Cost-Effectiveness: After making new money, the second most important goal of any company is saving the money it already has.  Electronic Data Interfaces save businesses costs on document storage, paper, toner, and mail service.
• Speed:  EDI promises security and data integrity without sacrificing of speed. Faster processing means quicker consumer services which means expanded business opportunities.
• Automation of Process:  The use of EDI technology can reduce administrative headaches caused by printing out business documents, enveloping, and post office interactions. The automation of electronic transfers is one of the best practices a business can adopt to save time and money.
• Process Information Flows: Electronic documents are much easier to organize and track down compared to paper documents. EDI technology facilitates data traceability and can inform users whether their messages have been received or read by recipients. 

Chetu is a world-class custom software development company with over 1,200 professionals from diverse industry backgrounds. Over its history, Chetu has built over 16,000 apps. To learn more about Chetu’s insurance claim process using EDI technology, check out this case study and reach out to their software experts today!