EDI (Electronic Data Interchange) is a key technology to optimise B2B processes along the supply chain. Business documents are exchanged electronically across companies, industries and borders to lower costs, speed up transactions and reduce errors.
The goal of this technology is to automate business processes while avoiding manual and paper-based transactions. Among other things, EDI is typically used to exchange order information between trading companies and manufacturers. In addition, it is also used for invoicing purposes, which allows for electronic invoices to be transferred, reviewed and processed in real time.
An electronic invoice is an electronic document equivalent to a paper invoice in terms of content and legal status. Switching from paper to electronic invoices helps to streamline corporate accounting processes considerably and to reduce costs. Moreover, it opens up new opportunities, such as automatic financing of accounts receivable through e-discounting.