If you have a business and have been active in the market for some time, you probably already know that managing a business is not a simple task. It is even possible that, in addition to the natural challenges in your industry, you have already encountered a customer who is asking you to implement EDI as a condition for continuing to do business together. You certainly feel caught between a rock and a hard place, but knowing the potential benefits can help you make the decision more easily:
1. More orders from existing customers
Listening to your customers’ requirements and your positive response will encourage them to see that dealing with you is open and easy. For your business, this means more orders and, therefore, higher revenues.
2. Market advancement
By developing your EDI skills, you will undoubtedly gain an advantage over your competitors, thus being able to offer top-notch services to potential customers. Winning the market over to your side is a step-by-step process.
3. Improving cash flow and expediting payments
The faster you can process invoices, the quicker you can collect payments. Implementing EDI means a higher percentage of correct and complete data, which subsequently leads to a shorter document processing time.
4. Enhancing customer relationships
Business relationships are very similar to our personal relationships – you need to take care of them to maintain a positive appearance. Any of your customers will be delighted to hear a resounding ‘yes’ to any of the following questions they may ask you:
‘I want to know when our order will arrive and what is included in the shipment. Can you send us the Shipping Notice?’
‘Can you receive our purchase orders via EDI?’
‘We are interested in achieving higher productivity in our warehouses and distribution centers. Can you use barcode labels for your shipments so they can be scanned upon receipt?’
All of these aspects demonstrate that choosing to implement EDI at the customer’s request is a beneficial situation for all parties involved, benefiting you whether you operate in the market as a buyer or a supplier. If you want to learn more, please contact us.