edifactoring:what,why and for whom?
EDIFactoring: What, why, and for whom? IKIGAI is a Japanese word, which means “reason for being”. Through this article, we are trying to arrive at the IKIGAI for Edifactoring messages and the ongoing innovations in the field proposed and worked upon by FCI in the Supply Chain Finance industry. Is the ongoing interest and excitement over edifactoring a rational, business-focused development or is just like a complex kryptonite? EDI stands for Electronic Data Interchange, using which companies can exchange information in electronic format rather than on paper. The same concept has been applied in factoring as well wherein factors can communicate with each other as well as perform or initiate some interdependent tasks, thereby simplifying the factoring process. FCI is a non-profit global representative body set up in 1968 for factoring and financing of open account domestic and international trade receivables. In 2002, FCI launched the edifactoring.com platform and has been continuously...