Please help explain "EDI"

[Larry Phillips]

I am ready to start business on my own and find that potential customers ask if I have "EDI" capability. Is this the same as being capable of sending reports in PDF format via email?

Probably a petty question for the old timers, but I do not know the answer.

Thanks,

newbie in nc

 

[Lone Star]

Larry,
Being "EDI capable" means something different to each client you work with. Some will accept a .pdf file, others require a separate software program to convert your appraisal file into a format their systems can read. Depending on the software you use to create your appraisal files, and the requirements of the specific client you are wanting to work with, you may have everything you need, or you may need to make an additional capital investment.

The question does bring to light an even bigger question that I'm sure a lot of readers on this forum are going to ask - are you sure that you are ready to be on your own? While I applaud your willingness to ask the question and try to learn, it is something that the overwhelming majority of appraisers with the experience necessary to strike out on their own would know.

I'm not making a snap judgement, just asking a question in return.

 

[TC]

Short for Electronic Data Interchange, the transfer of data between different companies using networks, such as VANs or the Internet. As more and more companies get connected to the Internet, EDI is becoming increasingly important as an easy mechanism for companies to buy, sell, and trade information. ANSI has approved a set of EDI standards known as the X12 standards.

When in doubt, use the google key.


TC

 

[Chris Colston]

Short for Electronic Data Interchange, the transfer of data between different companies using networks, such as VANs or the Internet. As more and more companies get connected to the Internet, EDI is becoming increasingly important as an easy mechanism for companies to buy, sell, and trade information. ANSI has approved a set of EDI standards known as the X12 standards.

When in doubt, use the google key.


TC

And I believe X12 went the way of the dinosaur when PDF transmissions became the norm. A client asking, now, if you are EDI capable simply means "do you send your appraisals via e-mail."

 

[Annemieke Roell]

The question does bring to light an even bigger question that I'm sure a lot of readers on this forum are going to ask - are you sure that you are ready to be on your own? While I applaud your willingness to ask the question and try to learn, it is something that the overwhelming majority of appraisers with the experience necessary to strike out on their own would know.

I'm not making a snap judgement, just asking a question in return.

Gotta disagree with you. While our computers and the technology around them are tools of our trade, the level of knowledge of these tools is not an indication of a person's ability to be an appraiser.

If he had asked: "what is a net adjustment" or something like that our question would have been a good one.

At just about every appraiser board meeting this issue arises: a software company wants their "training" to be counted as CE. Luckily, our board has determined that the ability to use a particular software does not add anything to the ability of being a competent appraiser and has shot the proposal down. Allowing that would be the same as allowing instruction for PDF or email to be counted as CE.

 

[xm39hnu]

While TC got the definition right, EDI can mean many things. Lighthouse, AIReady, and another one are different "EDI" formats. Just because you can exchange data electronically with somebody else doesn't mean you can exchange data with everybody. The question, "Are you EDI capable?" is some uneducated hack's way of trying to sound smarter than he is by using a term he doesn't understand.

What I do to answer such questions is to state "PDF only." Which is true, because I'll be damned if I'll pay money to rearrange data the way someone else has contrived--and that's all EDI is. Some tag the first bit of data as <name>"Property Address"</name><content>"284 Wilson Street"</content>. Others might tag it <paddr>"284 Wilson Street></paddr>. PDF describes the whole page, graphics and all. Print the PDF file to a postscript document (extension is .ps or .eps) and read it in NotePad if you want to see what that code looks like.

 

[xm72mhd]

Erectile Dysfunction Index? I've been a ten on occasion and a one on others. I'm thinking the middle is where it all averages out. But I'm hearing half-way, even though that's where the average is, is not at all that effective or desireable. Maybe there shouldn't be an average, just all or nothing.

If you've got the Internet, e-mail and Adobe you can EDI. Trouble is the client may not be compatible, and then there are all these wonderful firewalls, virus protectors and stuff that must be negotiated, as well.

 

[Bobby Bucks]

Did I miss another designation? Do they require a demo and background check to get an EDI? This place is so depressing at times.

 

[Michael Chu]

Misconceptions

The question, "Are you EDI capable?" is some uneducated hack's way of trying to sound smarter than he is by using a term he doesn't understand.

What I do to answer such questions is to state "PDF only."

Before I started appraising, I used to work for a huge container shipping company. They use EDI to track thousands of container movements and equipment inventory on a daily basis. If the business requires processing tons of data, EDI is utilized to some extent to save time and prevent errors in data transfers.

In the scenario explained by the original poster, most likely Jim Plante, in his post, has assessed the situation well enough. EDI=email

Meanwhile, EDI is very expensive even today. It is cost effective for AMC and major lenders, but for the poor appraiser, it is not. This is why some software vendors have integrated a "poor man's" version of EDI into the package so you can say 'yes' whenever EDI capability is mentioned.
The important thing is, depending on which software you use, this capability may be very limited (only capable of exchanging data with a few partners).

So, a good answer is an emphatic 'yes' to get the foot in the door, and the details to make it work can be ironed out later. Who knows? You may just do fine with PDF and email but I would not treat all these questions as ignorant or 'uneducated' without knowing who you are dealing with.

 

[xm39hnu]

Michael, if they're dumb enough to ask the average appraiser, "Are you EDI capable?" then they're ignorant and uneducated. An IT pro would be much more specific.

"EDI capable" as a phrase can mean anything from "Can you send an e-mail message without adult supervision" to "Can you establish a virtual private network with secure access for a limited and specified number of clients, operating on a distributed relational database through set data transfer protocols." (Don't have much of a clue what that last sentence means, but it sounds impressive, doesn't it?)