Move will streamline the technology for end users and their partners, company says
CoEnterprise is making its Syncrofy electronic data interchange (EDI) platform available on the public cloud, a move that company officials said will benefit IT channel players who sell to larger businesses by enabling those customers to meet the requirements of EDI without having to have a dedicated IT staff in place.
The Lowdown: At the same time, Syncrofy Cloud provides insights and visibility into the EDI environment to ensure the retailers aren’t hit by chargebacks or other related fees.
The Details: The cloud platform gathers business data from enterprises, but then also analyzes and presents it in a way that enables customers to avoid the need for support from an IT staff. Syncrofy Cloud also proactively monitors the environment and sends alerts when needed, enabling companies to leverage predictive analytics to act on issues before they become problems.
For retailers and their supply chain and partners, having an EDI platform in the cloud can eliminate the need to spend on resources and the time needed to implement and manage operations, improve scalability, and increase visibility in the supply chain as it exchanges information around products and services.
The Impact: EDI came onto the scene in the late 1970s as a technological solution to the problems of manually transferring documents between business partners, and has continued to evolve over the decades, even in the age of the cloud and APIs. It has been an expensive technology for system-to-system data exchange, though the cloud has enabled organizations to more easily automate it and integrate it into their environments.
Background: Despite being around for four decades, EDI doesn’t look like it’s going anywhere. According to Market Study Report, the market for EDI software will grow 11% a year, from $820 million this year to $1.38 billion by 2024.
The Buzz: “Almost every enterprise involved in supply chain and retail leverages EDI as the standard to exchange data and information, which has traditionally been seen as a barrier to success and growth, especially for smaller businesses,” CoEnterprise CEO Michael Rabinowitz said. “With the explosive growth of e-commerce, and the resulting impact on the entire supply chain, there’s a need for these companies to leverage a B2B solution that includes EDI capability, and we’re now offering exactly that with Syncrofy Cloud. It levels the playing field and allows these companies to save resources and remain competitive by meeting the requirements of big retailers at a fraction of the cost.”
“B2B Commerce is the new norm and all retailers large and small need to address back-end operations, IT infrastructure, and supply chain needs,” said Karen Blood, cofounder of GraceBlood, the first Syncrofy reseller. “EDI isn’t a new technology; rather it’s a tried- and-true format for effectively handling transactions within the operational centers of supply-chain businesses. Technology has evolved to ensure the longevity of EDI and CoEnterprise has cornered the market with Syncrofy Cloud, providing an easy-to-use solution that seamlessly integrates all the key moving parts, breaking down the IT barriers for our clients.”