After witnessing the global economic disruption in the past couple of years, many organizations changed their strategies to augment and enhance their revenues. They adopted new revenue channels such as e-commerce to boost revenues and customer growth. Now the traditional revenue channels are experiencing downfall while online retailing is witnessing immense growth.
Create Long Term Values With New Channels
It is hard to imagine a supply chain without technology and an automated system. EDI & API allow quick and secure data exchange, a massive part of supply chain management. E-commerce in retail has great potential, as it can bring long-term revenues and allow a business to grow into a sustainable business.
Global brands and even start-ups & small businesses are leveraging new channels to boost their revenue. In the recent news, a longstanding fashion brand pivoted to make facemasks in the wake of the worldwide health crisis. Many organizations believe that this shift will stay for a long time, and it will continue to be a reliable new revenue stream.
The sustainability and feasibility of these shifts depend on the robust and rapid data alignment and enormous scale. And this is where EDI & API solutions play a crucial role. EDI & API solutions enable businesses to expand the supply chain, increase revenue, and achieve sustainable growth while maintaining a clear view of the operations.
The Role of EDI & API in Pivoting Revenue Streams
EDI & API are interfacing and data exchange processes. Every organization utilizes the solutions based on their needs and market demand. Both the solutions are relevant for suppliers, manufacturers, retailer, and organizations who want to expand into new revenue streams. For instance, Amazon Seller Central is API-driven, whereas Amazon Vendor Central is EDI-driven.
API & EDI require excellent connectivity for accurate and fast data alignment between the platforms and the back-end systems at the organizations. In addition, an organization must have a well-integrated and reliable method to exchange information regarding orders, inventory, shipping status, and others to optimize the logistics fully.
B2B Ecommerce Market Report 2020 showed that EDI generated 78.4%, i.e., $ 7 trillion of all the electronic B2B sales over the previous year. EDI & ADI are not just limited to B2C, but it also channels B2B sales in the supply chain.
Supplier- Retailer Data Integration can be Intimidating.
The world is moving at an incredible pace, and so are the day-to-day transactions. The speed at which data integration occurs across hundreds or even thousands of locations seems daunting at the time.
Let’s take a hypothetical example.
A famous sportsperson or influential celebrity with a branded product line gets more attention and high demand. Maybe, the products were in perfect sync with the right time, which escalated its demand with the public’s attention. Now, a franchise retailer has begun to leverage celebrity-endorsed products in his stores. And those products are pre-aligned with certain manufactures.
Now the next step is to fulfill the orders with those manufacturers. But the question is, how will the manufacturer connect with 15-20 retailers in a month with such high demand?
The answer is AI-powered EDI & API solutions. These solutions streamline the process and make it smooth and uninterrupted while being scalable through automation.
Grow with Integration
To create an effective growth model, retailers, wholesalers, manufacturers, or e-commerce platforms, should be on the same page, making the process effective, efficient, error-free, and profitable. EDI & API solutions make this seamless integration possible.
HubBroker offers API connectors that make it easy for you to integrate processes with the click of a button. HubBroker also includes EDI connectivity, allowing you to access EDI and API connectivity on the same platform. Contact us to know more about your business can benefit from HubBroker’s EDI & API integrations.