- October 3, 2017
- Posted by: administrator
- Category: EDI solutions
If you’ve been on the business market for some time, you probably know by now that owning and managing a business is no easy feat. Chances are that your usual business-related challenges have been topped off by a customer asking you to implement EDI, as a condition to continue to do business with them. Although it may feel like you’re caught between a rock and a hard place, knowing the benefits may very well shed a light on your decision:
1. More orders from existent customers
Obliging your customers and being responsive to their requests will naturally encourage them to see you as trustworthy and easy going. For your company, this translates into more orders and therefore, higher revenues.
2. A head start
By extending your EDI capabilities, you will most likely get a head start in offering prospects and other customers top-of-the-line services. The market can be gained little by little and having that competitive edge most definitely helps.
3. Better cash flow and faster payments
The faster you are able to process invoices, the faster you will receive payments, especially if there are any early payment discounts available. Implementing EDI means more accurate and complete data, which results in an accelerated document processing time.
4. Improved customer relationships
Business relationships are very similar to our day-to-day relationships – they need to be tended after in order to maintain their positivity. Any of your customers will be delighted to hear a resounding ‘yes’ to any of the following questions they might ask:
‘I need to know when our orders will arrive and what is included in your shipments. Can you send Advance Ship Notices (ASNs)?’
‘Can you receive our Purchase Orders via EDI?’
‘We are interested in achieving greater productivity in our warehouses and distribution centers. Can you use barcode labels on your shipments so we can scan them upon arrival?’
These are valid points meant to show that choosing to implement EDI at the customer’s request is a win-win situation, that can benefit you regarless if you are active on the market as a buyer or as a supplier.