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

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