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nyheder fra iEDI

Arguments your CFO would love to hear!

iEDI

Copenhagen

16/05/2024

Is there a better way to make your CFO happy, than to cut the cost of an important and repetitive task?
Because that is what EDI does!
- We are open to hear your other suggestions.

But in the meantime, I think we can all agree that it would make both you and your CFO happy to cut down on your spendings

Happy work boss = Happy work life

So what arguments can you bring to your CFO?
Or if you are the CFO, what arguments can win you over?

Well. We got a few good ones for you:

Cost Saving

The exact amount a company can save by eliminating manual data entry of an invoice or order using EDI can depend on various factors, including the company's size, the number of invoices or other document types, the complexity of the process, and the current costs of manual data entry.

However, let's paint a picture of the potential savings in a broader way:

Work Hours

The time you spent on manually entering an invoice can take a long time. Especially if the document has a high complexity or any errors that need fixing. By automating this process with EDI, the company saves hours or even days of work time.
Phew! No more infuriating time spent on tedious tasks.

Payroll Costs

By reducing the time employees spend on manual data entry, the company can allocate resources to more value-adding tasks.
Yay! Now you don`t need to use as much time on need-to-do-tasks , and can finally have time for all the nice-to-do-tasks .

Error Reduction

Manual data entry carries a risk of costly errors. EDI significantly reduces this risk, saving the company time and money on error correction and reprocessing of invoices, while also providing more reliable and accurate financial transactions and reports - this boosts the company's credibility and trust.
Amazing! No more redoing of invoices or finding that small mistake that might have happened either a week or a month ago.

Efficiency Improvements

Automation through EDI increases overall efficiency in the supply chain or finance department, which can have a positive effect on other aspects of the company, allowing them to focus on more strategic tasks such as analysis and planning.
Let`s grow! When you have more time to focus on the bigger picture, you can elevate your business in new ways!

Overall, it can be challenging to specify a specific amount you’ll save depending on the company's specific circumstances, but it's fair to assume that the savings from eliminating manual invoice entry with EDI can be significant over time. Many companies that implement EDI typically experience a quick return on their investments due to these savings.