EDI Readiness - An indicator to determine a firm's ability to physically accomplish and attain benefits from EDI based on the presence of computer and communication hardware and application software. EFT - Electronic Funds Transfer. Computerized systems that process financial transactions and information about financial transactions, or that affect an exchange of value between two parties. A standards organisation in the U.S.A. specializing in the electrical and functional characteristics of interface equipment. Emulation - The imitation, performed by a combination of hardware and software, of all or part of one device, terminal, or computer by another, so that the imitating device accepts the same data, performs the same functions, and appears to other network devices as if it were the imitated device.
Emulation allows programs to run between incompatible systems.
Encryption Key - A group of characters which is used to initiate the encryption process. Each partner of a trading partner pair must have possession of the same key. Detecting Protocol - A communications protocol having a procedure in place to detect when data received is not identical to that sent. The stage during which the possible benefits and costs of implementing a business or system change are evaluated. The deliverable of this stage is a feasibility study.