Per the DART Consulting statistical report on EDI implementation, the market size of EDI was estimated to be US$916.5 million in 2013. With a compounded annual growth rate (CAGR) of 13.7%, the market can be estimated to touch US$2.1 billion in 2020. EDI, an data exchange means by which message and business-critical information are shared in a secure electronic format. Using EDI eliminates the possibility of inaccuracy that is generally a result of manual tasks. It also saves a lot of time and administrative cost of the business, thereby enhancing overall efficiency.
EDI is widely used across industries to enhance their operational efficiency. From healthcare to retail to automotive services, EDI is helping them save time, money and resources, giving them a competitive edge over others.
But despite its evident profitable applications, EDI is being misconstrued in so many ways. Let us debunk these myths so that no longer are organizations apprehensive of utilizing EDI Integration:
- EDI INTEGRATION IS EXPENSIVE:
Many times, businesses don’t adopt EDI out of fear that it would be a costlier investment with penury return on investment, which is anything but the truth. Have you ever given it a thought how EDI has been of significant help? With EDI integration, although the implementation cost may be a bit too high, then there is cost saving for a longer run. Manual task leads to errors, rectifying which leads to loss of time, money and vital resources. With EDI, automation makes the operation easier and enhances the quality of the product.
- EDI IMPLEMENTATION IS TIME-CONSUMING:
Yes, if you will try to think of it as a do it yourself project then it is bound to waste considerable time and money. But EDI is an intricate process which should only be implemented and managed by EDI Managed services experts. Not only will they perform the EDI integration in a hassle-free manner, keeping into consideration the cost/risk factor. When handled by an EDI managed service, this process leads to saving time which can be utilized in achieving core business objectives. Such services also provide business on time constraint, a reliable web-based or hosted integration solution wherein they remotely manage the operation.
- EDI IS NOT SECURE:
An organization out of the fear of their data being exposed do not adopt EDI integration, but not many businesses know that all data transfer through EDI is encrypted. EDI encrypts data, and unlike paper-based models, safety and security are highly prioritized. An adept EDI managed service providers will adequately install the integration and give you complete control to who will access the data or edit it. Transfer with EDI between vendors is safe and secure.
These were some of the common misconceptions businesses have about EDI integration. EDI integration is a complicated process which although simplifies your business and enhances productivity; it should only be implemented and managed by remote EDI consultants who will make use of best and updated EDI software to ensure safe and secure data transfer adhering to protocols.
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