Electronic data interchange

(EDI).

The electronic exchange of business data between or within commercial entities (including their agents or intermediaries in some cases also public administrations), in a standard format, of data relating to a number of message categories, such as orders, invoices, customs documents, remittance advices and payments.

EDI messages are structured computer-processable data formats that permit data to be transferred without rekeying and are then sent through public data transmission networks or banking systems channels. Any movement of funds initiated by EDI is reflected in payment instructions flowing through the banking system.

EDIFACT, a United Nations body, has established standards for electronic data interchange.

See also

• Electronic commerce
• RosettaNet
• UN/EDIFACT
• Value-added bank
• Immediate payments and the impact on corporate treasurers