Let your EDI supplier take care of the high-volume transactions – let Open ECX take care of the rest
EDI, Electronic Data Interchange, is a crucial method for efficient document exchange within the construction industry for purchase orders, invoices and invoices and shipment updates and notices. EDI offers businesses multiple benefits providing opportunities to cut costs, improve cash flow and reduce paper usage across the operation.
EDI is beneficial for you and your business but also for your suppliers and customers, as they will receive information much faster allowing them to enhance and increase their efficiency. Along with order accuracy and a faster payment process, EDI gives you an opportunity to communicate more with your customers and suppliers, updating them where they are in the process, ensuring transparency across both parties and enhancing relationships.
EDI is brilliant for some businesses across the supply chain, but it isn’t always appropriate for all. Typically, EDI takes care of the higher volume suppliers and customers – the top 20% of total invoices and orders that a business receives. But what about the remaining 80%?
Automate your PDF payments to streamline business practices
Manual input by resources in the office, which may be acceptable when you are only receiving one or two a week but not if you receive tens, hundreds and even thousands a day? Manual input means room for human error, longer processing times and limiting value resources. Not to mention a reduction in carbon footprint.
Open ECX’s software solutions can solve this problem and help the 80%. With no technical changes required inside the business, the cloud software extracts the data from the document, auto matches the information then the solution feeds the information straight into the back-end system. This makes for a more streamline business, revolutionising the way you work and allowing you to free up valuable resources for other crucial activities.
What’s more, Open ECX works with the PDF file format meaning that the solution is a suitable application for every business. With easy implementation, information can flow seamlessly without any data loss. With the tailored onboarding system and methodology, businesses can be live with the Open ECX solution in minimal time, saving time and money almost immediately.
Discover 5 alternative methods for efficiently managing your construction invoices, download the guide below.Download Guide