EDI by sector: retail, automotive, healthcare
Electronic Document Interchange, EDI, is turning into an essential solution for companies as it generates many benefits, improves competitiveness and boosts the efficiency of businesses.
Where is it necessary to use EDI?
A growing number of companies require this type of service. Companies in the retail, automotive and healthcare sectors all require EDI to meet their need for a streamlined, quick, secure and reliable document interchange system for the smooth running of their businesses.
The retail sector, comprised of supermarkets, department stores, chemists and hardware stores, among others, is the sector that most uses Electronic Document Interchange. This sector is characterised by being very competitive, which means that improving margins is essential. Its use in the retail sector allows companies to charge lower retail prices without squeezing their margins, as the electronic processing of documents provides considerable cost savings.
The automotive sector was one of the first sectors to start using EDI. In fact, most of the leading manufacturers and suppliers use this type of EDI service because of the great value it offers in terms of automating processes and integrating the information from documents into the internal systems of the companies.
The healthcare sector has been making a great effort to introduce this type of interchange for many years. This sector is characterised by its great diversity in the supply chain, with many different parties involved and a wide range of different products. These services improve communication between those involved in the healthcare sector and simplify the procedures, guaranteeing patient confidentiality and reducing the number of mistakes, which in this case can even put the life of the patients at risk.
The finance sector was a pioneer in using electronic document interchange solutions for paying wages, invoices and other types of documents. This has allowed firms to access many financing channels in a fast, safe and confidential environment. Since then, EDI has become increasingly common among financial institutions, and its growth has been exponential year after year. It has now reached very significant levels in terms of both the documents exchanged and their value.
We can highlight many other sectors that are connected to the ones already mentioned, such as the logistics and transport sector which is essential for the exchange of goods, and purchasing centres, where streamlined management with their associates and suppliers is necessary. In addition, there are others such as the legal, Oil&Gas and defence sectors where it is also used, albeit to a lesser extent.
