Increase efficiency and accelerate business operations
Speed
EDI can speed up business cycles by 61%
Cost
EDI reduces transaction costs, saving businesses more than 78%
Accuracy
Improved accuracy by reducing errors by up to 80%
Efficiency
EDI can reduce the order-to-cash cycle time by more than 70%
What is E-business?
Electronic business is a digital method of exchanging various documents between companies. E-business guarantees lower operational cost, a high level of security, easily manageable archive systems and significantly lower possibilities for human error, due to a high level of automatization.
E-business also includes legally valid e-invoices and an e-archive. With our Electronic Data Interchange (EDI) System, clients can send, receive and archive unlimited numbers of purchase orders, bills of lading, invoices and other documents. Fast, simple, and almost completely automated.
E-INVOICE
Electronic invoicing is a form of electronic billing. Business entities that conduct business electronically, known as trading partners, use e-invoicing to securely present and monitor transaction documents between one another. Fully supports the exchange of electronic invoices in a valid and legally recognized format. It guarantees origin authenticity, content integrity, and invoice legibility. Electronic invoicing, or e-invoicing, is crucial for digital businesses. It enables secure document exchange between trading partners, ensuring legality and authenticity.
What is an e-signature?
An e-signature is an electronic version of your own signature, and is equal in every way to your handwritten signature when applied in accordance with legal regulations.
E-business uses electronic signatures as a safety measure and to guarantee authenticity. Documents with e-signatures can be easily checked for fraud.
Why are e-signatures important?
They validate the authenticity of a signatory
Proof of integrity, as they indicate if a doc has been altered after signing
Undeniability, showing the source of the signed contents to all parties
What is a timestamp?
A timestamp is an electronically signed receipt of the issuer. It confirms the content of the data of a document, validates the signatory’s signature, shows the date and time when an event occurred and proves the e-signature existed before the timestamp was issued.
With a timestamp, an e-signature can be verified even if the signatory’s electronic certificate has expired. Timestamps are mostly applied to archiving, as they guarantee the authenticity of an e-document.
E-documents
Electronic documents are the same as their traditional paper counterpart, but in digital format. They feature many advantages in comparison to paper docs, and businesses who commonly use e-docs enjoy significant benefits.
They are easier to produce than paper docs. Easier to send, receive, and store. As their use is mostly automatized, the possibility of human error is quite low.
They are also faster to use and exchange than paper docs. Offices who use e-docs save a significant amount of their operational cost budget, as there is no need for paper supplies. There is no paper waste, either.
JIT: Just In Time
Just In Time or JIT is an inventory management strategy based on timely purchases, which increase efficiency and cut down the need for storage space. JIT can be applied when market research has been conducted and product demands can be predicted.
An efficient JIT strategy would mean that while product delivery is nearing the end of its stock, a new shipment is being produced, meaning the exact amount of a product is always in stock. JIT eliminates overloaded warehouses with inventory that cannot be sold fast enough, as well as empty shelves and missed sales opportunities.