Modernize Your EDI System for Faster, Flexible Integration and Scale
We’re living in a rapidly changing environment. Only those companies that invest in modernization can succeed and stay ahead. Whether you are a small company or a large enterprise, if you become complacent, your competitors will get into your market share by digital transformation
EDI has become an integral part of B2B commerce over the years. Many people have predicted the demise of EDI, but it has stood its ground and is still going strong. Legacy EDI is getting rapidly replaced by modern and sophisticated EDI that are very well integrated with third party apps.
In 2021, EDI alone processed around 76.5% of total B2B digital sales which is an astonishing achievement. This is based on a B2B ecommerce market research report by Digital Commerce 360. When more and more enterprises invest in modernization of their existing EDI platforms, the role of EDI is only expected to grow further in the coming years.
Reasons to consider EDI modernization
To maintain business continuity
There is a recent contradicting trend in the enterprise world, when a business grows rapidly it puts pressure on their ability to operate efficiently. When a business works on a growth path signing multiple new clients each week, it is a sign of amazing success but at the same time, their existing EDI and IT infrastructure is not capable of handling such rapid growth. This is why one should opt for EDI modernization else the success of your sales will not convert into real profit for the company.
Based on a 2019 report, around 63% of companies worldwide reported that it takes around 2–4 weeks to onboard a new partner, just imagine what will happen to the company if they manage to acquire 100 new clients in a short period of time. They will end up not delivering what was promised to the customers and eventually losing their business.
The SLA Violations are piling up
When a business grows but operates with a legacy EDI, it is quite normal that they might not hit SLAs or meet necessary deadlines for onboarding guidelines. This will result in SLA penalties and lost opportunities. As per the 2019 State of Ecosystem and Application integration report, 55% of the business decision makers say that around 50–150 orders are lost each year due to inefficient integration of resources.
Partner Onboarding Process is slow
Around 63% of IT decision makers are of the opinion that new-partner onboarding is not only cumbersome but also takes a long time due to the customized requirements of the new partner. This is why Modern EDI systems are developed with complete flexibility to integrate and connect with multiple formats and APIs during new partner onboarding. 47% of C-Suite leaders believe that the delay in onboarding new partners means direct revenue loss for the organisation.
