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Electronic Data Interchange

Do you think that standards will be reached and accepted to improve Electronic Data Interchange (EDI)? Why or why not? What needs to happen in order for standards to be accepted?Ê Is XML going to help in this arena? Will we ever be able to go to completely paperless transactions and is it a good idea to do so?

250 to 300 word with clear and direct reference for each paragraph.

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Research shows that Electronic Data Interchange (EDI) is the exchange of information from one company to another using a computer network, such as the Internet. Electronic data interchange involves computer-to-computer exchanges of invoices, orders, and other business documents and therefore effects cost savings and improves efficiency because it minimizes the errors that can occur if the same information has to be typed into computers more than once.

It may be possible for standards to be reached and accepted to improve Electronic Data Interchange; however, there may always be leaks in data. EDI provides an easily accessible mechanism for companies to buy, sell, and trade information. In the business-to-business market, major corporations have ...

Solution Summary

This solution of 406 words gives background information on the Electronic Data Interchange (EDI) and evaluates the benefits and costs of businesses favouring it over paper billing. References used are included.