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Tuesday, August 25, 2009  
What is EDI?
  • Electronic Data Interchange
    The electronic transfer of business information from one computer application to another, using agreed standards to structure the data.
  • Paperless Trading / E-Commerce

Benefits for the Employer

  • Speedy transmittal of data and reports
  • Electronic mode of payment
  • Faster and accurate posting of contributions
  • Elimination of hefty documentation

The SSSNet Program

  • Electronic transmission of employer?s monthly contribution data and related messages
  • Electronic Remittance of payments to SSS
  • Automated Acknowledgment of reports and payments
BES vs. Traditional SSS Remittance System

BancNet EDI System

  • Available 24/7 (online)
  • Faster / accurate posting of remittances
  • Automation of SSS remittance processes / less manpower requirement
  • Reduced operating costs

OTC Payments

  • Available only during banking hours
  • Posting takes longer
  • Manual transmittal of remittance data / payments
  • High OPEX on transaction handling
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