EDI: time for a win-win change in credit terms

Article Abstract:

The introduction of electronic data interchange (EDI) may overhaul traditional credit terms, to the benefit of both buyers and sellers. Current commercial transaction terms result from paper-based, mail oriented communication systems that are subject to timing uncertainty and slowness. EDI, by transmitting purchase orders electronically and automatically logging the orders in the records of both the buyer and seller, eliminates ambiguity as to when purchase orders and invoices are sent or received.

Information management, Finance, Commercial credit, Accounts receivable

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New electronic systems provide cash flow opportunities

Article Abstract:

Two objectives that will take cash managers beyond their traditional job roles are implementing electronic cash management systems and advocating cash flow. Both goals will require diplomatic as well as financial skills. Cash managers will have to convince senior management of the importance of electronic data interchange, and to promote an understanding of cash flow considerations among other department heads.

Services, Electronic funds transfer systems, Cash management

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