What are EDI and EFT?

Electronic Funds Transfer (EFT) allows LYNX Services the ability to send payments directly to your business's bank account. Payments can be easily tracked and monitored. Check with your financial institution to inquire about utilizing EFT. EFT provides a variety of opportunities for a business. Some are listed below.

  • EFT is an efficient, convenient method of receiving payments
  • No waiting period for checks to clear the bank
  • No paper checks that might get lost, stolen or damaged
  • Payments are traceable
  • No trips to the bank to make deposit
  • Payments are deposited even when you are closed for the day
  • EFT will eventually eliminate reams of paper generated daily related to payments

EDI stands for Electronic Data Interchange. EDI is direct communication between computer systems, using national and international telecommunication networks. EDI messages are as basic as orders and invoices, but may be more complex information exchanges that will increase efficiency and be more effective for a business.

Invoices that are sent EDI to LYNX must originate through a billing service or a computer owned by the glass company. There are several auto glass software vendors available that offer EDI features with their software. A partial list of suppliers is available on LYNX Services' website.

Additional software and hardware is required for additional workstations. At the bare minimum, EDI increases the speed and accuracy of trading communication, and cuts costs. EDI will give you better and more up-to-date information on which to make business decisions. EDI can link your business operations more closely to those of your key suppliers and customers, to the benefit of all parties in the supply chain.