The Parker Hannifin EDI Guidelines And Business Opportunities
The Parker Hannifin EDI (Electronic Data Interchange) eliminate unnecessary paperwork by exchanging information directly between computers and between applications instead of by telephone, facsimile, or mail. Previously, corporations used different computers and systems, and the data communicated among these computers had to be manually reformatted. Today, EDI uses computer network technology to provide data storage, translation, and transmission among business partners. These services, which are not limited by hardware or software differences, convert a sender’s speeds, codes, and document formats into forms compatible to the receiver.
EDI Business Opportunities with The Parker Hannifin
With the increasing emphasis on customer service, EDI provides the following benefits:
- Allows users to transmit standard and paperless business transactions electronically
- Increases accuracy and timeliness, resulting in faster and more efficient transaction processing
- Reduces transaction costs
- Reduces inventory and storage
- Helps solve delivery problems
- Adds a competitive advantage perspective, and may improve profits and market share by increased cash flow and enhanced planning
- Offers potential cost savings due to high industry regard for EDI EDI is gaining as the preferred technology in receivables/invoicing and the totally paperless evaluated receipts settlement (ERS).
The invoicing module is simply the creation of an electronic invoice following shipment of the goods, which streamlines paper saving and handling. ERS goes even further in the payment of goods through electronic funds transfer. Upon recognizing the receipt of the material, the customer’s computer recognizes the obligation, and subsequently initiates a payment funds transfer (EFT) from its bank to the vendor’s bank for payment without involving an invoice. Launching an electronic invoice at the same time as the product shipment creates an added benefit of advance shipment notification. The distribution customer has notice of in-transit material, and upon receipt may initiate normal invoice processing.
To learn more about EDI and become a certified EDI Professional please visit our course schedule page