Traditional vs. Next-Generation
Traditional EDI allows for the exchange of structured data between different computer systems, which makes it a more efficient and cost-effective method of communication compared to traditional paper-based methods. When companies adopted an EDI solution, gone were the days of manually entering data and dealing with paper documents (and, sometimes, human error). According to market insights, the global EDI software market size is expected to reach $1940.4 million by 2027. This means we can safely assume that EDI will be sticking around for the long run.
However, the rise of e-commerce and the need for businesses to quickly and accurately exchange data with their trading partners has contributed to a rising need for developments to be made within the EDI industry. That’s where next-generation EDI comes in.
Newer EDI solutions have been revolutionary for suppliers in practically every industry. With the help of cloud-based EDI solutions, suppliers can access their EDI systems and data from any device with an internet connection. This makes it easier for them to integrate EDI into their operations and collaborate with their customers and partners. And, as we know from the COVID-19 pandemic, accessibility is more important than ever.
Similarly, next-generation EDI solutions also include more seamless integration with other technologies, such as artificial intelligence (AI), which enables suppliers to automate their processes and gain real-time visibility into their supply chain operations. For example, sensors on delivery trucks could automatically send data to the EDI solution, providing up-to-date information on the location and status of shipments. AI algorithms can then analyze data from the EDI system and identify potential problems or opportunities, enabling suppliers to proactively address them.
Overall, the next generation of EDI is a major step forward for suppliers and has so far helped them to improve their efficiency, accuracy, and responsiveness within the supply chain. It’s also enabled them to better serve their customers and partners and stay competitive in an increasingly complex and dynamic business environment.
TIE Kinetix’s Next-Generation EDI
At TIE Kinetix, we’ve recently been talking a lot about “next-generation EDI.” Our solutions are proof that we’ve adapted our technology in order to best serve our customers. This means that we’re constantly thinking about supply chain digitalization solutions that we can offer that go hand-in-hand with EDI–it's all connected, and it all should be. We're also actively working to migrate any customer who uses an outdated solution to ensure that they're covered as supply chain technology continues to innovate and develop.
Our next-generation EDI solutions can be integrated completely into back-end or ERP systems – leading to seamless and easily-accessible data analysis. For example, TIE Kinetix can integrate our EDI-2-FLOW solution into a customer’s Microsoft Dynamics 365 F&SCM solution. This simplifies the entire implementation process and simplifies the adoption of a new solution. Take a look at this press release to learn more about how it works in a real customer scenario.