Go Paperless with an EDI Solution
Among the many benefits of electronic data interchange, one that may often get overlooked is the ability to reduce paper clutter and waste in the workspace. By moving closer to a paperless option with EDI software, your enterprise can enjoy many benefits from reduced overhead costs, increased productivity, a sustainable supply chain and much more.
According to Reduce.org, an office worker uses an average of 10,000 sheets of paper every year. When you multiply that figure by the number of employees at your company, the cost of using so much paper becomes quite staggering. Many times, businesses have to store their historical transaction data, and as those forms stack up it becomes more and more expensive to put it somewhere. Storage space is expensive, and it can be a pain to access this data once it's put away.
Relying on physical files can decrease worker productivity. Filling out the same B2B transaction forms again and again is time-consuming, and it keeps employees from focusing on more valuable tasks. With EDI transactions, your B2B communications occur in a matter of minutes instead of a matter of days. Faster communications allows your team to access up-to-date transaction information and react immediately to changes.
In a paper-based system, having employees repeatedly fill out the same forms leaves the opportunity for human error. Redundant and inaccurate data can lead to incorrect orders, and those can strain relationships with partners and customers alike.
EDI transactions are transmitted from computer to computer in standardized formats, maintaining easy communication and information transfer between partners. When transferring data through paper, it's much harder for companies to come to an agreement on a standardized format. With an EDI transactions, the formats have already been set.
Going paperless is also more secure than relying on paper forms. Documents can be lost or damaged, but electronic forms are secure through digital backup systems. If any paper forms are lost, it can be difficult to track down information and re-create it. Partner communications through EDI software are transferred through secure services such as managed file transfer, or MFT.
By reducing paper consumption, EDI software promotes a more sustainable, environmentally-friendly workplace. A greener supply chain can have a number of benefits to an enterprise in addition to the reduced overhead costs of paper. Showcasing sustainability and corporate governance can help to improve a company's image to potential investors, partners and employees, particular from the Millennial generation.
Millennials are now the largest generation in the workforce, reported Richard Fry of Pew Research Group. They'll make up 40 percent of it in 2020. Often called the "green generation," these young professionals care deeply about corporate sustainability, and it affects their decisions on where to work, where to shop and where to invest.