The Impact of Electronic Data Interchange on Accounting Systems

Purpose: Electronic Data Interchange has positively impacted the accounting system considering several steps achieved due to the ability to execute several business-related tasks efficiently and fast without any human error. The present studies on Electronic Data Interchange (EDI) 's role in accounting systems refer to it as an interchange mechanism that has guided the exchange of business information driven by a standardized format by eliminating handwritten or manual tasks to electronic, digitalized, and globally reliable systems. This paper will provide a comprehensive analysis of the study to explore the role of Electronic Data Interchange on the accounting system and how its adoption is changing financial performance due to its efficiency and effectiveness. The analysis will create mass awareness of Electronic Data Interchange (EDI) use and its adoption, besides its acceptability by the entire European trading community.    Theoretical Framework: Electronic data interchange (EDI) has improved accounting systems practices by eliminating paper and introducing information exchange and transactions through high-speed electronic controls without human intervention. Based on the Electronic Data Interchange's progressive background, it has created a rapid development and shift by several organization accounting systems as shown in several present studies.    Design Methodology: This research used analytical and descriptive data collection tools to investigate the role of electronic data interchange in the project work of accounting systems in organizations. The data was obtained after multiple case studies to observe various kinds of Data Interchange diffusion in Europe and Romani. Several researchers like O'Callaghan and open-ended questionnaires were primarily developed to collect data from banks that use electronic data interchange in Europe and Romania. A simple random sampling mechanism was used to spread the data collection tools to the manager. A descriptive data analysis factorial technique was used to analyze the data supporting the role of electronic data interchange in accounting systems. Data collected was analyzed in bar graphs based on the case studies to show the role of EDI adoption among several organizations in the accounting system.   Findings: The study findings indicated that management of European companies in assessing completion among the banking sector members using E.D.I must be adopted dur to several advantages such as increased efficiency as seen in their accounting systems.   Research Practical and Social Implication: This research demonstrates that the implementation of Electronic Data Interchange can significantly impact accounting systems by improving efficiency, accuracy, and accountability. In the context of accounting systems, EDI can be used to automate the flow of financial transactions between organizations, such as invoicing, purchase orders, and payments.    Originality/ Value: The results of this study suggest that there is the potential of E.D.I to make a significant impact on the field, improving and simplifying accounting activities and streamlining organization efficiency

XML for Business to Business Data Exchange

This paper examines to use of XML for business to business data exchange. Starting with creating an XML document from an existing data source and transmitting that document, we explain some of the supporting standards for XML which facilitate automated processing and transformation of an XML document. Finally we look at the advantages of using XML, and why it is expected to revolutionise electronic data interchange

An open standard for the exchange of information in the Australian timber sector

The purpose of this paper is to describe business-to-business (B2B) communication and the characteristics of an open standard for electronic communication within the Australian timber and wood products industry. Current issues, future goals and strategies for using business-to-business communication will be considered. From the perspective of the Timber industry sector, this study is important because supply chain efficiency is a key component in an organisation's strategy to gain a competitive advantage in the marketplace. Strong improvement in supply chain performance is possible with improved business-to-business communication which is used both for building trust and providing real time marketing data. Traditional methods such as electronic data interchange (EDI) used to facilitate B2B communication have a number of disadvantages, such as high implementation and running costs and a rigid and inflexible messaging standard. Information and communications technologies (ICT) have supported the emergence of web-based EDI which maintains the advantages of the traditional paradigm while negating the disadvantages. This has been further extended by the advent of the Semantic web which rests on the fundamental idea that web resources should be annotated with semantic markup that captures information about their meaning and facilitates meaningful machine-to-machine communication. This paper provides an ontology using OWL (Web Ontology Language) for the Australian Timber sector that can be used in conjunction with semantic web services to provide effective and cheap B2B communications

Global dynamic E-marketplaces, and their role in the internet-based economy

Collaboration capabilities are what will most probably create the gap between winners and losers in business-to-business (B2B) commerce. In this context, the electronic marketplace (EM) comes as a medium for trade and collaboration, and a common entry point where partners can share business processes and adopt a decentralized business model fuelled by market evolution. The thesis illustrates the advantages of collaborative business and presents the information technologies that support it. The purpose of this thesis is to educate both the author and the reader on the technology and infrastructure that supports collaborative business and to posit that among the three major information technology infrastructures that enable B2B commerce, the EM model provides significant advantages for individual companies and industries compared to Electronic Data Interchange (EDI) and Peer-to-Peer (P2P). The thesis identifies key tools and value-added services EM\u27s should provide their participants to meet the requirements of modern companies and the Internet-based economy. Finally, the thesis suggests potential impacts of EM\u27s on the modern business ecosystem

An empirical investigation on EDI determinants and outcomes in Malaysian industry

Government involvement is the main cause for the EDI acceptance in Southeast Asian countries (United Nation of Economic and Social Commission for Asia and Pacific - UNESCAP, 1996). This is significantly different from the EDI developments in the western countries in which private sector involvement in EDI is substantial (UNESCAP, 1996). As an initial step to spur EDI implementation in private sector, the Malaysian Government has imposed all companies that engage in international trade to implement EDI by doing electronic customs declarations through CIS (Customs Information System) DagangNet. For this, the Government also spent over RM 300 million to fully implement EDI nationwide (Star, 2003 December 3). Nevertheless, such implementation is not successful and it has been claimed that “EDI is not yet fully implemented even though it had been initiated since late 1990s, besides electronic data is also still not recognized for legal customs declaration purposes even if it was meant for paperless and electronic customs declarations” (Star, 2003 December 3). To date, there are dual customs declarations, both electronic and manual, in practices where the sole typical electronic transaction is registration of the customs form (Jimmy, 2005; Star, 2005 July 11). This is in contrast with electronic customs declarations by other countries such as Hong Kong, Korea and Singapore where there is a full electronic declaration including electronic payment for declarations charges (Jimmy, 2005; Star, 2005 July 11; Chau, 2001)

Study of Tools Interoperability

Interoperability of tools usually refers to a combination of methods and techniques that address the problem of making a collection of tools to work together. In this study we survey different notions that are used in this context: interoperability, interaction and integration. We point out relation between these notions, and how it maps to the interoperability problem. We narrow the problem area to the tools development in academia. Tools developed in such environment have a small basis for development, documentation and maintenance. We scrutinise some of the problems and potential solutions related with tools interoperability in such environment. Moreover, we look at two tools developed in the Formal Methods and Tools group1, and analyse the use of different integration techniques

E-logistics of agribusiness organisations

Logistics is one of the most important agribusiness functions due to the idiosyncrasy of food products and the structure of food supply chain. Companies in the food sector typically operate with poor production forecasting, inefficient inventory management, lack of coordination with supply partners. Further, markets are characterised by stern competition, increasing consumer demands and stringent regulation for food quality and safety. Large agribusiness corporations have already turned to e-logistics solutions as a means to sustain competitive advantage and meet consumer demands. There are four types of e-logistics applications: (a) Vertical alliances where supply partners forge long-term strategic alliances based on electronic sharing of critical logistics information such as sales forecasts and inventory volume. Vertical alliances often apply supply chain management (SCM) which is concerned with the relationship between a company and its suppliers and customers. The prime characteristic of SCM is interorganizational coordination: agribusiness companies working jointly with their customers and suppliers to integrate activities along the supply chain to effectively supply food products to customers. E-logistics solutions engender the systematic integration among supply partners by allowing more efficient and automatic information flow. (b) e-tailing, in which retailers give consumers the ability to order food such as groceries from home electronically i.e. using the Internet and the subsequent delivery of those ordered goods at home. (c) Efficient Foodservice Response (EFR), which is a strategy designed to enable foodservice industry to achieve profitable growth by looking at ways to save money for each level of the supply chain by eliminating inefficient practices. EFR provides solutions to common logistics problems, such as transactional inefficiency, inefficient plant scheduling, out-of-stocks, and expedited transportation. (d) Contracting, a means of coordinating procurement of food, beverages and their associated supplies. Many markets and supply chains in agriculture are buyer-driven where the buyers in the market tend to set prices and terms of trade. Those terms can include the use of electronic means of communication to support automatic replenishment of goods, management of supply and inventory. The results of the current applications of e-logistics in food sector are encouraging for Greek agribusiness. Companies need to become aware of and evaluate the value-added by those applications which are a sustainable competitive advantage, optimisation of supply chain flows, and meeting consumer demands and food safety regulations. E-business diffusion has shown that typically first-movers gain a significant competitive advantage and the rest companies either eventually adopt the new systems or see a significant decline in their trading partners and perish. E-logistics solutions typically require huge investments in hardware and software and skilled personnel, which is an overt barrier for most Greek companies. Large companies typically are first-movers but small and medium enterprises (SMEs) need institutional support in order to become aware that e-logistics systems can be fruitful for them as well