on 06 Apr 2017 11:02 AM
EDI/B2B information exchange solutions have existed in one form or another for the past 15 years and now compete in a mature market. This also means that many EDI systems in place are now outdated, lacking in the more innovative functionalities that businesses need to really benefit from this age of rapid digital transformation. The future of EDI is in the cloud and we are about to show you the business advantages of migrating your EDI solution over.
Streamline communication processes
One of the main complaints that we hear from clients is that they are spending too much time following up via different methods of communication, and not enough time actually on their business. SaaS EDI solutions offer the opportunity to consolidate these communication processes. Cloud-based EDI solutions further allow for communication flows to be integrated into a multi-functional all-in-one platform.
Meet new business process requirements
A SaaS EDI solution can be adapted to work with all types of device formats and also be integrated into an all-in-one style B2B platform, allowing clients to manage their entire supply chain and business processes from a single interface. In addition, this platform is updated and maintained on a regular basis allowing functionalities to be removed or added as necessary. Cloud-based solutions allow for more flexibility and adaptability in all areas, especially when it comes to adapting business processes to changing markets.
SaaS EDI solutions tend to come with a long list of important, key functionalities such as flow monitoring, message storage, connection protocol management, system alarms and warnings, as well as additional benefits such as KPI and analytics reporting, B2B network management, e-invoicing, digital archiving, and collaborative portals, just to name a few. All of this is accessible through one easy-to-use client interface.
Reduction of overall costs
Based on a Generix Group customer best practices survey from last year, two thirds of our respondents said they were saving between 20 and 50% in costs after migration. ROI can still be a little tricky to calculate, but 60% of respondents confirmed that they met their ROI in less than 12 months. Client-specific SLAs are drafted and modified to match client needs, and customers can choose between different pricing models. Basically, SaaS EDI solutions get rid of the need of expensive hardware and software and offer scalable pricing options.
Consistent maintenance and upgrades
When migrating to a SaaS EDI solution you also eliminate the risk of device obsolescence, as systems are maintained and updated externally on a regular basis. This takes the responsibility away from your internal IT team, and puts the onus on the provider to ensure their clients are making the most out of all of the available functionalities.
Security and compliance
All SaaS EDI platforms come with high-level security protocols, ensuring that your data is protected consistently. These solutions also allow access to be configured and managed, ensure that all technical certifications (ISO) are up-to-date, and comply by national and international (if necessary) regulations and guidelines (Sox, Hiipa, for example). The huge advantage of this is that everything is taken care of by the provider.
There is nothing worse than seeing your business booming while your software and hardware fail to keep up. One great advantage of SaaS EDI is that it can be easily scaled to meet production needs, adapting to peak and off-peak periods. SLAs are configured to allow for scalable payment plans.
Better customer service
By outsourcing your EDI needs and using a cloud-based solution, you can also count on different levels of multi-lingual support and maintenance depending on your contractual agreement. SaaS platform providers know that it is in their interest to consistently outshine the competition in terms of client service, so you can expect all types of additional services, including risk management, migration, and employee training programs. These are typically not the kind of regular services you would receive from a traditional EDI solution provider.
The EDI market is moving rapidly towards the cloud, and while it is still in its early days in terms of solution choices, we predict a huge expansion over the next 5-10 years. Solutions are being adapted to different verticals and needs, and adding more complex functionalities to their everyday use. With the advantages listed above, it makes sense why more businesses are looking to consolidate their EDI needs in the cloud.