History of Business Cost Reductions Using Electronic Technologies
•Banks settle most of their customers’ business transactions through automated clearinghouses (ACHs), which are systems created by banks or groups of banks to electronically clear their accounts with each other.
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•Businesses called value-added networks (VANs) were created to meet the demands imposed by EDI.
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•A VAN is a natural third party that can offer assurances and dispute-resolution services to both EDI trading partners.