ELECTRONIC DATA INTERCHANGE (EDI)

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Electronic Data Interchange Candidate’s Name Institution’s Name Electronic Data Interchange (EDI) EDI is described as the exchange of organization’s information electronically through uniform design (Vollmer, Gilpin & Rose, 2011). It is a method that permits a corporation to transmit electronic data to a different corporation instead of using paper to convey such information. Therefore, EDI is the computer-to-computer interchange of business records through a uniform electronic format among corporations or business colleagues. How using EDI facilitates electronic transactions As per Vollmer, Gilpin and Rose (2011), EDI facilitates electronic transactions through reducing transaction expenses, enhances transaction pace, accuracy as well as trade effectiveness. Through shifting from paper-based interchanges of business records to electronic-based records, the enterprises enjoy key advantages, for instances, decreased expenses, improved processing rate as well as decreased inaccuracies. It minimizes transaction expenses For entities that deal with plentiful transactions, the use of EDI may cause saving of huge sums of money which could be incurred for buying papers in case paper-based interchange is used (Vollmer, Gilpin & Rose, 2011). While interchanging files by electronic means enhances transaction pace as well as visibility, it also decreases the sum of cash used since it saves the cash to be used in the manual method. It enhances transaction pace as well as the accuracy of the records Vollmer, Gilpin, and Rose (2011) explain that EDI can accelerate the business interchanges by 61 percent. The transaction interchanges take place instantly

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