Edifactoring 2.0 - Final Stages | FCI
Mackinac Bridge in Michigan
Latest News
Edifactoring 2.0 - Final Stages
technology handshacking
13 January 2022

After previous In-Sight newsletter updates, edifactoring 2.0 has gone through testing, updating, and advancing. Therefore, we have just a few updates to share with you.

For those unfamiliar with Edifactoring, it serves to support the two-factor business model of FCI members through a set of electronic document interchange (EDI) messages. Some of them include invoice & credit notes (MSG 9), adjustment/cancellation of invoice & credit notes (MSG 10), payment (MSG 11), invoice verification request (MSG 70), invoice verification response (MSG 74), etc. There are around 40 messages that have been developed and deployed so far on the edifactoring.com platform to facilitate factoring.

For more than a year, edifactoring 2.0 was under development, making its transformation in 17 steps to the currently existing and available build. For that Centric, FCI & ComCom have been working hard to ensure this platform is one-of-a-kind and give a fresh look for our factoring platform. In the last article, published in February, I’ve mentioned that there might be surprises. Now I can say that we have enhanced the platform by adding ‘Message by Ledger’ that allows users to multiple select invoices and generate operational messages like the Payment, for instance, a public folder that contains all the messages in one place for a quick finding and interaction and also the already mentioned message grouping who gives a quite interesting perspective when you want to see in one place grouped messages that share the same seller and buyer.

All of these and many other elements wish to provide a future breath to our EDIfactoring.com while keeping and adapting all the great things that are currently available. This is already available for the User Test Force comprising around 40 FCI members who started testing in early November, intending to further refine and enhance the system with their feedback. Furthermore, one of the main goals was to achieve a new security standard, so in that direction, we already received good feedback from our Security Auditor.

What’s next? I think that the next is the end of the road for this project done with the Go Live moment. I don’t want to speculate, but I think this is close, and the spring of 2022 will be most likely that moment with a concrete date to be announced after we are sure that everything is ready. Stay tuned for more news on this including the launch date.

FCI Members can still enrol to be part of the User Test Force. Please check the circular release from October 2021 on how to join.

Learn about the platform and its benefits:

FCI Members wanting to know more about Edifactoring can enrol in the Career Path Programme through FCI Academy. Click here to find out more.