Electronic data exchange and electronic funds exchange have, Ask an Expert

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Electronic Data Exchange (EDI) and Electronic Funds Exchange (EFT) have been active in larger firms for more than ten years. These tools have allowed firms to greatly improve the speed of business activities and provide greater efficiency to operations. It has reduced costs and provided effective supply side management in the distribution chain.

Discuss examples from your research and knowledge where the above tools have greatly improved business efficiency.

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