In any typical trading community profile – where there’s a mix of large, medium and small trading partners – the 80/ 20 rule usually applies. 80% of the business is conducted with 20% of the trading partners. These trading partners are typically those that have already adopted electronic commerce and trading is usually done via EDI, XML or other standardized messages.
The remaining 80% of the trading community typically accounts for 20% of the transactions. These trading partners are usually smaller suppliers and customers who may lack the budget, resources or expertise to exchange EDI, XML or other standardized messages and so they often send purchase orders and invoices via fax or email. But manual fax and paper handling, and re-keying of data, create inadvertent but costly data errors. And it is expensive to have staff spend time printing, re-keying and manually tracking documents.
For the smaller companies who aren’t ready to adopt an EDI solution it is difficult to know what to do. What if you could use document and character recognition capabilities to turn those inbound fax and email business documents into machine-readable data? That is what a Fax to EDI service does. A Fax to EDI service can receive your fax in a cloud solution as an image and then use leading edge recognition technologies to convert the image to data in the format you need. A great way to automate smaller suppliers and customers with ease, effectively
Want to learn more? Register for our on-demand webinar, “Creating Data without the Data Entry with OpenText Fax to EDI” today.