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.
•
•Businesses called value-added networks (VANs) were created
to meet the demands imposed by EDI.
•
•A VAN is a natural third party that can offer assurances and dispute-resolution services to both EDI trading
partners.