In 2024, several emerging Electronic Data Interchange (EDI) trends are shaping how organizations exchange business documents and streamline their operations.
Here are the top 5 EDI trends and their value to organizations:
1. AI and Machine Learning in EDI
Artificial intelligence and machine learning are being integrated into EDI systems to improve data accuracy, automate processes, and provide predictive insights for business decisions. This trend helps organizations reduce errors, enhance efficiency, and gain valuable business intelligence from EDI data.
2. Blockchain in EDI
Integrating blockchain technology with EDI offers enhanced security, real-time transaction visibility, and improved traceability of documents. This trend enables organizations to establish trust in their digital transactions, mitigate fraud risks, and streamline supply chain operations.
3. Cloud-based EDI Solutions
Cloud-based EDI solutions are becoming increasingly popular due to their scalability, cost-effectiveness, and flexibility. Organizations are leveraging cloud-based EDI platforms to easily manage trading partner connections, eliminate hardware maintenance, and ensure continuous accessibility to EDI data.
Download the whitepaper: Scale and secure your B2B transactions in the cloud
4. Integration of IoT with EDI
The Internet of Things (IoT) is being integrated with EDI to enable seamless data exchange between IoT devices and enterprise systems. This trend allows organizations to harness real-time sensor data for inventory management, predictive maintenance, and supply chain optimization, thereby improving operational efficiency.
5. Enhanced compliance and regulatory support
EDI systems are evolving to provide enhanced support for evolving compliance requirements and regulatory standards across industries. This trend helps organizations ensure adherence to industry-specific mandates, streamline reporting processes, and avoid costly penalties associated with non-compliance.
One example of this is in the pharmaceutical field, where the FDA is enforcing strict traceability standards through the Drug Supply Chain Security Act. With a final implementation deadline in 2024, it is intended to provide an additional level of security for consumers by diminishing their exposure to counterfeit, stolen, and potentially dangerous drugs.
Axway’s Track & Trace solution helps organizations address these requirements with an API-enabled solution that makes it easy to integrate your supply chain end to end – from warehouse and product line systems to scanning equipment and point of sale.
These types of B2B integration solutions free professionals from time-consuming manual tracing tasks, while maintaining visibility into the status and location of every product and package.
These are just a few of the trends that are reshaping the EDI landscape, offering organizations valuable opportunities to optimize their business processes, enhance security, and achieve greater agility in a digital-first environment.