ELECTRONIC DATA INTERCHANGE Definition

Bookmark and Share

ELECTRONIC DATA INTERCHANGE (EDI) is the use of communication between an entity and customers or suppliers to transact business electronically. Purchases, shipping, billing, cash receipts, and cash disbursements can be completed entirely by exchanging electronic messages.

Learn new Accounting Terms

FRIENDLY TAKEOVER consists of a straight buyout of a company, and happens all the time. The shareholders receive cash or (more commonly) an agreed-upon number of shares of the acquiring companys stock.

OCR is Optical Character Recognition.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.