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Electronic

Electronic
Data
Data
Interchange(E
Interchange(E
DI)
DI)
And
And
Financial
Financial EDI
EDI
What is EDI?
 The transfer of structured data, by agreed
message standards, from one computer
system to another without human
intervention is Called EDI.
Basics and Standards
 EDI has 3 Major Components:
◦ Trading partner
◦ Translation Software
◦ Communication

 EDI Standards
◦ The UN-recommended UN/EDIFACT
◦ The US standard ANSI ASC X12
◦ The TRADACOMS standard developed by the ANA
◦ The ODETTE standard
ORGANISATION A ORGANISATION B Trading partners

APPLICATION APPLICATION

EDI
EDI TRANSLATOR Translation software
TRANSLATOR

EDI DOCUMENT EDI DOCUMENT

VALUE ADDED NETWORK (VAN) Communication


EDI in Action
Financial Electronic Data
Interchange
 Involves only the payment and payment
related information
 Used by BANKING INDUSTRY
 Automated Clearing House (ACH) system,

Bank Wire, CHIPS, Fed Wire, GIRO, and


SWIFT
Sellers Seller’s Bank CHIPS Process Buyers’ Bank Buyer
Correspondent SWIFT • New Delhi
Process Process Automated NY-
Bank Process • Buyer’s bank buyer
Automated Automated Clearing Automated debits his A/C authorizes its
Credit Advice Sellers’ A/C House with Equivalent bank to pay
• Receives an advice Credited • Debits US$10,000.
from bank Correspondent Debits buyers US$10,000 to
• Credit funds to • Instructs its
banks a/c and bank with its supplier in
sellers account correspondent
credits suppliers US$10,000 New York.
bank a/c maintained bank to efect
Converts WIFT payment using
in New York clearing format into CHIPS
house. SWIFT.
• Sends instruction to
format
sellers bank. Transmits
payment
authorization to
sellers bank
International Trade Transaction
Application of EDI
 Finance and Accounting
 Insurance
 Inventory Management
 Logistics
 Manufacturing
 Marketing
 Purchasing
Benefits of EDI
 Remove document re-keying
 Eliminate paper
 Reduce lead times and stockholding
 Increase the quality of the trading

relationship
 Competitive edge
Future of EDI
 As New Indian story there is
Commencement of ADHAAR system (Unique
Identification).
 As a world in next generation all the

personnel information or all relevant data


specially in developed nations will be
transferred by SIM (subscriber identity
module) card.
n k Yo u
Th a

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