EDI enables fast accurate and reliable exchange of data between companies and replaces the usage of faxing and mailing of paper documents. The EDI service passes invoice and payment data through the ACH network, streamlining your accounting and receivable and payable functions. EDI can include data such as the sending party's name, invoices, purchase order number or other reference information that identifies the purpose or breakdown of the payment.
- Decreases costs by reducing clerical work and less paper usage
- Increases efficiency by automating paper-based tasks
- Reduction of data entry errors
- Improves processing time of accounts receivable receipts
- Same day confirmation of payment details
- View and download EDI reports conveniently through Business Online Banking