Electronic trading, sometimes called etrading, uses Information Technology to bring together buyers and sellers through an electronic trading platform and network to create electronic communication networks (ECNs). Electronic trading removes manual overheads and increases the accuracy and automates record keeping related to sales and purchasing.
Electronic commerce is becoming the norm and many companies won’t place orders with vendors that can’t conduct business via online data exchange.
The objective of moving all suppliers to electronic trading for purchase orders, invoices, credit notes and advice notes is to reduce the potential for inaccuracies and speed up transactions. Electronic data exchange can also cover debit notes/reason for credit and reason for credit confirmations typically through a company website.
Integrated Management Solutions (Global) Ltd expertise in System 21 services allows us to provide a comprehensive service to review and advise you on moving to E-trading and to check your processes and systems to ensure smooth trouble free operation.
With the assistance of IMS Sykes Pickavant are competently trading with customers electronically. All documentation such as purchase orders, invoices, credit notes and advice notes are able to be sent and received electronically. Read more...