Electronic data interchange and Electronic lockbox: Difference between pages

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(EDI).
A funds collection service that records the receipt of incoming wire transfer and Automated clearing house (ACH) payments, reformats the data, and transmits it to the company in whatever format it desires.
 
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 ==
== See also ==
* [[Electronic commerce]]
* [[Automated clearing house system]]
* [[RosettaNet]]
* [[Lockbox]]
* [[UN/EDIFACT]]
* [[Wire transfer]]
* [[Value-added bank]]
* [[Immediate payments and the impact on corporate treasurers]]


[[Category:Technology]]
[[Category:Cash_management]]

Revision as of 19:31, 5 May 2016

A funds collection service that records the receipt of incoming wire transfer and Automated clearing house (ACH) payments, reformats the data, and transmits it to the company in whatever format it desires.


See also