March 2, 2020

Softera’s EDI integration makes joining Fitek’s EDI network easier

To make getting started with EDI (Electronic Data Interchange) easier, business software developer Softera Baltics has developed a standard EDI connection for Microsoft Dynamics NAV (from 2013R2) and Microsoft Dynamics 365 BC. This enables companies using the software to more affordably join EDI operator Fitek’s EDI network. EDI Business Unit Manager Ainas Arust had the following to say about using EDI and what benefits it offers companies.

What is EDI, and how does it work?

EDI stands for electronic data interchange. It means that data is transferred electronically and unambiguously processed by a computer. The solution enables the automatic movement of daily business documents like orders and invoices between different organisations’ business software, without further need to exchange those documents via email or paper. For a business, this means significantly faster delivery and execution of orders as well as faster payment of invoices and lower costs, since the solution eliminates the need for manual processing of documents.

Who should use EDI?

EDI creates value for businesses of all sizes. Automated data processing helps to significantly reduce errors and save time spent on manual data entry, review of documents, sorting, copying of files and other administrative tasks. If you operate from several business locations, you will not need to send physical documents from one office to another, thus saving time and making operations much quicker. You can dedicate the time saved to work that will bring more value to your business.

Why is an EDI operator needed?

Generally, companies have many suppliers or customers, and it is expensive to build and maintain a separate channel for each of them. EDI operators have their own network of suppliers and customers, as well as roaming with different EDI operators. Therefore, to exchange data with many business partners, it is necessary to have a single connection to an EDI operator’s network. Besides standard services, such as document transfer and format conversion, EDI operators also provide a number of additional services – product code conversion, in case buyers and suppliers use different codes for the same product, document validation and matching, archiving services, and for example in Fitek’s case, document digitisation.

What is standard EDI connection?

Standard connection is an integrated module in ERP, for data exchange between ERP and an EDI operator’s network. This means, that a company with EDI-capable ERP does not need to build an EDI connection from scratch when starting out with EDI, but can use the existing module and just fine-tune it for specific requirements. This greatly saves time and reduces EDI project costs.

Is it possible to use other Fitek services with NAV?

Yes. Fitek and Softera have also developed a standard interface between NAV and the FitekIN invoice workflow system for expense invoices. Companies can fully digitally handle not only goods invoices and other EDI documents, but also expense invoices, such as invoices for services. Both invoice types can be archived digitally within FitekIN, which also has a great search engine. This means Fitek can offer full paperless invoice handling, all within a fully integrated standard solution.

Financial technology company Fitek together with its parent company Unifiedpost is developing the Invoice Gate service The e-invoicing solution was recently launched in Latvia and Lithuania, and 8 more countries will be added in July. In Estonia, the e-invoicing solution aimed at small and medium-sized enterprises has been in use for a year, and almost 13,000 companies have joined it. Almost 90% of the invoices sent are e-invoices.

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On Tuesday, May 12, at 2 pm (EEST), a webinar "E-invoicing made easy" will take place. The webinar is free, you are welcome to attend!

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In today's market situation, the FitekIn invoicing solution enables both remote work and the contactless handling of invoices. FitekIn is used by 16,000 people from 1,150 organisations across Europe. Indrek Allas, the Head of Fitek's Business Unit, explains in detail.

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