16-58 Which of the following wholesale services offered by FIs allows businesses to transfer and transact invoices,purchase orders,and shipping notices automatically?
A)Electronic data exchange.
B)E-commerce facilitation.
C)Electronic billing.
D)Electronic funds transfer.
E)Account reconciliation

Question

Quizplus · Accepted Answer

Electronic data exchange (EDI) allows businesses to transfer and transact invoices, purchase orders, and shipping notices automatically. EDI is a digital system for exchanging business documents between trading partners. It eliminates the need for manual data entry, reduces errors, and speeds up communication between businesses.

16-58 Which of the Following Wholesale Services Offered by FIs