Revenues for vendors of electronic data interchange software and services are projected to exceed $1 billion by 1998, up from $409 million last year, according to research by BIS Strategic Decisions.
The organization tracks telecommunications and related industries. Torrey Byles, assistant director of electronic communications, said EDI becomes easier to adopt as more industries and services. such as claims processing, banking, and organized clearing houses. become EDI-capable. "Financial EDI is a small portion of that up to $15 million in 1993," Mr. Byles said. EDI, the electronic exchange of information and money between organizations, occurs either on the ACH network, maintained by the National Automated Clearing House, a banking trade group, or on other networks.