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Electronic Data Interchange Definition (EDI)
What is electronic data interchange (EDI)? EDI is a standardized format for computer-to-computer communications transmitted via electronic networks. In addition, EDI reduces paperwork and administration relating to information transfers within a company or between companies. It also reduces mistakes and data entry errors.
Using EDI can result in time and cost savings for a business. Electronic data interchange communication can also allow businesses to exchange invoices, purchase orders, and other business documents electronically. EDI documents are also transferred in virtual real-time, leading to faster transaction processing. Furthermore, less paperwork and personnel intervention can reduce administrative costs related to transaction processing.