We have come a long way to complete the first quarter of the year 2020 with the explosion of COVID-19 pandemic across the globe. The Coronavirus is spreading with a breakneck pace, unlike other viruses. The havoc created will have a deeper impact on various industries, and EDI managed services are not an exception to this.
EDI stands for Electronic Data Interchange. It is most commonly known as computer to computer data exchange between two businesses. Most of the companies today are integrating or have already integrated their ERP (Enterprise Resource Planning) systems with EDI solutions. EDI service providers and EDI developers today make you (electronically) exchange the business document, which includes, but not limited to, purchase orders, invoices, and shipment notices, etc.
Before checking the impact of COVID-19 on EDI managed services, let us first have a glance on the structure and benefits of EDI. It will make us digest the COVID-19’s impact of EDI easily.
The basic structure of EDI:
- Electronic data interchange happens mainly between computers.
- The exchange of documents takes place in a standardized format, so both the businesses can speak in the same language.
- EDI service providers and EDI developers continuously strive hard to make the process hassle-free and quicker.
Benefits of EDI:
- Increased efficiency due to automated transactions
- Reduced manual errors
- Easy validation of content via EDI standards and receiving software
- EDI never stops working!
In this current scenario, everything seems to be negative. Corona outbreak has made all the industries to slow down their functioning due to various reasons.
Due to the global lockdown, the companies are facing some critical issues, such as shortage of raw material, frequent shifts in demand patterns for products/services, and uncertainty about long term business plans, etc. The integration of EDI services in this scenario will prove to be a blessing in disguise. To support these immediate EDI integration requirements, Apprisia can help to implementing this EDI integration quickly, efficiently, and easily.
How will EDI implemented by Apprisia can mitigate the current risks for businesses?
- EDI managed services will enable the company to coordinate with the procurement team, as they’ll undoubtedly be aware of how COVID-19 is affecting the suppliers.
- EDI service providers can deliver an integrated EDI solution that will help the company to contact their suppliers. The company can ask them about how the Corona outbreak has negatively impacted them, and this way, the company can modify its further business plans.
- Implementation of EDI in ERP will generate some statistical data and graphs, which would be beneficial in studying the demand patterns of the products/services delivered by the company. This study will play a vital role in deciding the demand-supply ratio.
At this point, we are unable to estimate the exact adverse financial effects COVID-19 pandemic will have on businesses across the globe. However, we at Apprisia make sure that, in this crisis, our EDI developers are in a position to deliver the robust, super-efficient, cost-effective, and unstoppable EDI solutions. These solutions can be integrated with ERPs and help companies not only to survive but also progress!