Electronic data processing or EDP is a fast, secure and error-free data processing system that can process any amount of data.
Does your organization collect and manage every tiny bit of information that is generated every day or just a selected set of data? Whether your company is small or big or whether your data processing needs are immense or less, you can benefit from an Electronic Data Processing or EDP system. EDP refers to a digital management of your database, which would be stored on a shared server with access to all the involved parties. Almost any type of data like invoices, phone conversations, documents or minutes of a meeting can be collected and managed through an effective EDP strategy.
Top 4 benefits of using electronic data processing
Here are some top advantages that your company can leverage by using electronic data processing:
- Faster speed and access to data, as the information which is stored can be instantly retrieved through the internet or an internal network
- Better efficiency as any document like statements, reports or invoices can be automatically generated through an EDP system
- Reduce costs, as once an EDP is developed and implemented, it can minimize the cost of managing data over a period of time
- Reduction in resources as there are no repeated entries or mistakes ( common in manual data processing)
How to setup an EDP?
For an efficient electronic data processing system, you would require the following:
- Desktops, servers and terminals to enter and store your data
- Applications, spreadsheets, codes or databases to collate and manage your data
- A system to enter and manipulate your data. The procedure should also eliminate any duplication of data or data corruption
- Specially trained resources who have the ability to work with the EDP system