electronic data interchange

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Electronic data interchange (EDI)

The direct exchange of information electronically, from one firm's computer to another firm's computer in a structured format.

Electronic Data Interchange

A strictly structured form of business-to-business communication. Electronic data interchange involves the transfer of formal documents, such as orders, invoices, and even checks. Companies provide EDI services to more than 80,000 clients, but the system receives significant competition from various services offered over the Internet.

electronic data interchange (EDI)

an interactive COMMUNICATION system which enables two firms to exchange business documents using standard electronic forms and COMPUTERS linked through a service provider e.g. electronic links between suppliers and retailers allowing purchase orders, packing lists, delivery notices, invoices and remittance advices, as well as self-billing by retailers. EDI is often a faster, cheaper and more reliable means of exchanging information than traditional paper-based exchanges. See INFORMATION MANAGEMENT, MASS CUSTOMIZATION.

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(This is usually done by sending the file through an EDI translation software package.)

Financial EDI: improving the business cycle

Vendors of EDI translation software maintain all versions of ANSI X12 releases so that the burden of version control does not fall on the user of the transaction sets.