A new initiative by Highview will aim to allow businesses to complete Electronic Data Interchange (EDI) transactions more easily as the company offers its VistaChain program for free, according to a press release.
VistaChain works at blockchain-enabling those transactions, with whatever trading partners are necessary, in order to resolve disputes quickly and add the ability to track the existing transaction.
In doing this, Highview will be able to allow for better, more prudent decision-making, both at home and at the office. In today’s multi-faceted work environment where businesses struggle with issues of moving operations without messing up and losing data, Highview is betting the service will be a hit with users.
CEO and Founder Mike Kersels said he wants to focus more on customer satisfaction with Highview than he had with previous ventures.
He said the VistaChain program provides simple access to a one-source panel showing a company’s EDI history. That should minimize confusion and potential mistakes. Kersels said the ability to conduct business “is being tested like never before,” so he wanted to fix the issue from his perspective.
The modern electronic landscape has opened up questions as to how to pay more efficiently. Automation technology has answered many of those questions.
With new types of software, companies gain the ability to track updates on payments, which gives a better view of which customers are late, along with providing a number on how long it took said companies to pay their invoices most of the time. Reminders can also be sent out with more efficiency.
Challenges for EDI payments often revolve around the complexities with implementing them, as the form requires a specialized touch to get right. Although some companies like Highview have been attempting to meet those challenges, the issues of a lack of standard practices, complex onboarding processes and a lack of adoption of new tech have persisted thus far.