Electronic Data Interchange


Electronic Data Interchange is the structured transmission of transaction and vouchers between a Company and its Customers and Suppliers by electronic means, which is used to transfer the transactions from one trading partner to another trading partner without human intervention. By adhering to the same standard, two different companies or organizations, even in two different countries, can electronically exchange documents (such as purchase orders, invoices, shipping notices, and many others).


Business-to-Business (B2B) electronic commerce (e-commerce), which includes Electronic Data Interchange (EDI), has enabled the integration of companies throughout the world into communities of business partners (often called trading partners) with benefits for all. In today’s business environment, B2B integration is a key to success; in fact, many companies will no longer do business with you if you can’t do business electronically. While many businesses have incorporated emails and faxes into their B2B communication, these processes still involve human handling and are thus slow and prone to error. Although they provide improvements over postal mail-based processes, they lack the power and functionality of e-commerce.


Electronic Accounting Data Interchange


AccXchange and its Benefits


  1. Enables real-time visibility into transaction and vouchers status.
  2. Reduces the cost of accounting work.
  3. Easy review and reconciliation of the ledger account based on the access permission.
  4. Exchange of vouchers and transaction in minutes instead of the days or weeks of wait time from postal service.
  5. Simplify Accounts Maintenance and Monitoring.
  6. Improves Speed and Accuracy of voucher entries since the entries are tweeted from one company to another.
  7. It can reduce the order-to-cash cycle time and improving business partner transactions and relationships
  8. Automating the exchange of vouchers between Debtors and Creditors can ensure that business critical transactions and vouchers are sent on time and can be tracked in real time, sellers benefit from improved cash flow and reduced order-to-cash cycles
  9. Shortening the order processing and delivery times means that organizations can reduce their inventory levels.
  10. Quick processing of accurate business transaction leads to less reworking of orders, fewer stock outs and fewer cancelled orders.