- September 29, 2017
- Posted by: administrator
- Category: EDI solutions
No matter how successful a business may be and how smoothly its business operations may be running, its flourishing will not be wholesome unless the relationships with its business partners are properly nurtured.
As with any regular, interpersonal relationships, B2B relationships need to be looked after and strengthened with trust and proper communication. When these are lacking and there is no mutual effort of maintaining positive partner relationships, the relationships will inevitably start showing cracks. These can take a number of shapes, starting with errors, frustrations and, in time, a decrease in profits.
A well-functioning supply chain can only exist if there is a healthy exchange of sensitive data and business functions, performed with absolute trust and confidence.
By implementing EDI technology (Electronic Data Interchange), you will send a message of professionalism and you will inspire partners to trust you. Let us take a closer look at how EDI can positively impact the relationship with your business partners:
1. EDI can help create a reliable Inventory Management System
We cannot stress enough how important inventory is to a business and the way it is being managed. Profitability goes hand in hand with how the items in your stock are being tracked and managed.
With EDI your profitability will get a soaring boost, since you will always have at the tip of your fingers real-time information for your products, from all the warehouses you are operating with.
Automation also means that with fewer human implication, you will also get fewer errors. This also translates into higher efficiency for your business operation and into a greater degree of customer satisfaction.
By choosing to implement EDI, you will have better control on frequent situations, such as delayed orders, out-of-stock items and backorders. Not only will you be better equipped to handle them, but in some cases you can eliminate them altogether.
2. EDI favors building solid business relationships between trading partners
Business relationships have one important thing in common with day-to-day ones: communication. In order to help the relationship with your trading partner develop in a strong and productive way, you will need to be pro-active in the way in which you communicate with your partner. With consistency and clarity, you can both establish the grounds for future goals and to track your progress in a way that is accurate and constructive.
Until not long ago, communication was solely based on manual processes revolving around the back-and-forth exchange of paper documents between the two. It used to take days for them to reach their destination and some of them did not make it altogether.
When you integrate EDI technology, you then embrace automation as well. This will instantly eliminate a series of problems that used to pull down your business. Precision will definitely be a bonus that your partners will greatly appreciate. Speed is another perk that in this day and time propels your business forward, giving you a competitive edge against your competitors.
The faster you can secure existing partners, the quicker you can on-board new ones and see your business flourish.
3. Implementing EDI results in a considerably more accurate and secure data exchange
More often than not business transactions are riddled with sensitive information that needs to be handled with care and precision, as well as passed on in a secure manner. However, seeing that the amount of transactions can be tremendous and they are all paper-based, lots of errors can slip through the cracks, leading to loss of profitability and trust from your business partners.
Furthermore, paper documents can more easily be destroyed or lost, never to be found again.
EDI changes all this. Everything will be automated, thus eliminating the abovementioned issues. All your transactions will be more accurate and your business partners will be carefree when it comes to exchanging sensitive data with you.
Cultivating trust and confidence in your B2B relationships will help you reach your goals faster and develop your business in a harmonious and productive manner. EDI can help you do that effortlessly. For more information give us a call.