Electronic Data Exchange (EDI) was first adopted by industries in the US to streamline their internal operations by automating business processes requiring repetitive processing of data. EDI was developed by shipping and transportation industries about 30 years ago to reduce the burden of paperwork, an important factor in the cost of doing business. It was later on adopted by those players including the top stock trading companies that had to manage huge amount of complex data.View more random threads:
- Pakistan Open Market Rates in Pak Rupee (PKR) 27 August 2011
- What are the forex trading Secrets for 2011
- Forex Rates 16 September 2011
- International Forex Rates in US Dollar (USD) 6th February...
- Today Dollar price in Pakistan on 30th September, 2011
- International Forex Rates in US Dollar (USD) 3rd February...
- Gold price in Pakistan on 18 July 2011
- Today ponds rate of GBP in Pakistan 139.0631 138.7653 Rs
- Witnessing the use of amazing tool sets
- International Forex Rates in US Dollar (USD) 4th February...
Sponsored Links
Traditional applications of EDI included
• Purchase orders
• Bills of lading
• Invoices
• Shipping orders
• Trade payments
Before the EDI became popular with the stock traders, the early users of EDI were
• Automotive sector
• Banking
• Chemical
• Entertainment
• Financial services
• Freight carriers
• Grocery and food service providers
• Healthcare sector
• Information technology
• Insurance
• Manufacturing
• Mass merchandising
• Publishing houses
• Transportation sector
• Telecommunications industries
Many government agencies across the globe, especially those involved in international trade, customs and supplies are now using EDI. The Discount houses and brokers community in the US embraced EDI in the early 1980s when they mostly connected their remote locations online. Thereafter, the internet facilitated the extension of the online trading platforms within the immediate reach of the prominent investors.
There are currently 1 users browsing this thread. (0 members and 1 guests)