HAI GS1 EDI Invoice Project for DIY Sector
Hardware Association Ireland (HAI) in conjunction with GS1 Ireland are working with both retailers and suppliers from the DIY and Builders Merchant sector on electronic trading via EDI. This trade initiative is driven by a need to take a significant level of cost out of the supply chain and make business practices more efficient.
Participants in the DIY EDI Invoice Project
The retail organisations involved include Amalgamated Hardware, Associated Hardware, National Hardware and Grafton Merchanting ROI. All are fully committed to EDI implementation and will now work with all of their supply partners to achieve a significant rollout of electronic trading within our trade sector.
EDI is a straightforward application with initial investment which should be easily recouped within months for most companies. It provides businesses with the ability to exchange standardised documents electronically without laborious time consuming and error prone movement and handling of paper. A transaction that could take between 5 and 8 days using paper, will now only take minutes.
Benefits of EDI
The benefits of EDI have been evident for a number of years in the FMCG sector which operates almost entirely using an EDI trading format. The benefits include:
- Reduced processing costs which directly improve the bottom line.
- No handling of paper, no lost files, increased accuracy, as well as savings on stationery and postage.
- The freeing up of staff to focus on core issues, including sales.
- To improve the order to cash cycle by speeding up the processing of invoices.
A suite of common messages ( invoice, credit note, purchase order, and despatch note ) are already in operation. There is strong international evidence and cost savings from a recent 2015 Billentis European Report; E-invoicing /E-billing in Europe and abroad. The report contains valuable information outlined in a cost benefit analysis conducted during the report's compilation.