Financial EDI Services
When you need to exchange financial information within your business-to-business ecosystem, Effective Data can offer a modern solution for securely sharing information. We are Electronic Data Interchange consulting and integration specialists dedicated to developing financial EDI solutions that improve the customer experience and business agility.
Financial institutions that leverage data, advanced analytics, and new technologies to improve the customer experience can build loyalty that's vital for future success.
Effective Data has EDI solutions tailored specifically for financial clients. Our products and services make it easy and affordable to collaborate with business partners, transfer data, and integrate internal business processes.
With our EDI and financial tools, many of the processes are automated. Organizations can electronically receive an invoice and initiate a payment. For major companies, that saves time, paper, and money for both the buyer and the seller. Additional benefits of our EDI solutions include:
- Improve efficiency
- Enhance the accuracy of exchanged data
- Easily manage activity
- Reduce manual data entry
- Integrate with any ERP, MRP or application
With assistance from Effective Data, you can connect with all partners and consolidate business-critical information into a single place.
Financial EDI Documents & Transactions
Businesses in the financial industry must communicate regularly with an array of partners, from customers to governmental regulators. Optimize these tedious and error-prone processes with automated communication from Effective Data.
We support all major EDI communications methods and have extensive knowledge of industry trends and requirements. When partnering with us, EDI documents are readily available, easy to process, and hassle-free to manage. Common EDI transactions that financial industry uses daily include:
139: Student Loan Guarantee Result
144: Student Loan Transfer and Status Verification
154: Secured Interest Filing
812: Credit/Debit Adjustment
820: Payment Order/Remittance Advice
821: Financial Information Reporting
827: Financial Return Notice.
828: Debit Authorization
829: Payment Cancellation
In ever-changing economies, it’s hard to succeed without connecting all internal business-critical applications and systems for real-time data sharing and process automation. At Effective Data, we have the expertise needed to implement innovative financial sector integration solutions. If you want to learn more, give out team a call.
We owe a debt of gratitude to Earle and Peggy at Effective Data. They took a last-minute call before the weekend and a few days later, our EDI software was upgraded and ready for our go-live date. Earle was knowledgeable, thorough and timely. Effective Data will get our business from now on. T.D., EDI Coordinator, TopRx, INC.