Maintaining legal compliance is no easy task – especially for global companies that must deal with new regulations implemented in many countries worldwide. To keep up with all the changes, they need an experienced EDI provider to ensure a smooth transition and high data security. Where and how do you find one? Check out our guide to make the best choice for your business.
Choosing the best EDI provider for your needs
The first thing to do when choosing an EDI provider is to evaluate your situation – your current data exchange solution, business needs, and most pressing issues. Why is your present provider not hitting the mark? What are the challenges your company is facing in this area? Answering these questions will help you assess what qualities you should be looking for in a new supplier.
Here are the most critical factors to consider:
Cloud EDI solution
EDI solutions can work in two models – in the cloud or on-premises. The web-based option is generally more flexible, easy to use and cost-efficient. Cloud EDI helps run operations smoothly, saves human labour and enables scalability during peak periods. That’s why it’s best to look for providers that can ensure it. With cloud-based EDI, there is no need to purchase and maintain hardware and software infrastructure. It’s a cheaper, more user-friendly solution that often relies on AI/ML technologies and can be accessed at any time, from anywhere.
The global presence of the EDI provider
Depending on how international your company is, you should consider your potential EDI provider’s reach. Its global presence can facilitate communication and ensure support in a crisis – whether it’s a local problem or an issue meeting legal requirements in a given region (for example, certification).
Consider whether your potential EDI solution provider meets all the regulations for data exchange in your area of focus. It’s essential, considering how many countries are now introducing new requirements for exchanging invoices to reduce VAT leakage. Your provider has to be aware of them and needs to ensure a certain level of flexibility to adapt to any changes to come. It’s the only way it’ll be able to guarantee your legal compliance.
Your new EDI solution provider should be able to integrate different tools, software, and local systems into one platform with little interference. This includes aligning your business with other channels, ERPs, business systems, business partners (B2B), customers (B2C), or government bodies (B2G). Choosing the right provider means having a reliable partner by your side to ensure correct integration and future ERP upgrades that strengthen your architecture without compromising your system.
Flexibility and experience
This one may seem obvious, but your EDI provider has to have a solid background in offering data exchange solutions. Why? Because experience translates to a deeper understanding of processes and more efficient problem-solving techniques. This, alongside your provider’s flexibility and ability to support different document standards and formats, will facilitate migration and save everyone’s resources.
One thing that’s easy to overlook when choosing an EDI solution provider is the process of data migration. How involved in this operation do you want to be? Which parts will be carried out by your IT resources, and which by the supplier? Data migration is not easy, so it is crucial to work out details such as what the onboarding process and communication will look like.
Comarch as an EDI provider
The above-mentioned issues are just a few factors to consider when choosing an EDI provider. It’s always best to leave such an important task to a team of experienced professionals. That’s why we recommend looking into Comarch EDI – an advanced cloud-based solution for seamless and secure data exchange with your trading partners. With a focus on enhancing your business efficiency, Comarch’s solutions support various electronic message types and formats, providing flexibility and convenience. Comarch EDI accelerates the entire trade lifecycle, from order placement to shipment and payment, leveraging blockchain, traceability and machine learning. The Comarch platform optimises supply chain processes for improved business outcomes and empowers organisations to achieve greater success.
Prepared by: Data Exchange & Document Management Team at Comarch.