Businesses can use various methods for data exchange, depending on their needs and available technology:
Electronic Data Interchange (EDI): A standardized method for exchanging business documents electronically, commonly used in supply chain management. APIs (Application Programming Interfaces): Allow different software applications to communicate with each other and share data seamlessly. Cloud Services: Platforms like AWS, Google Cloud, and Azure facilitate data exchange by providing scalable storage and processing power. Blockchain: Ensures secure and transparent data exchange, particularly useful in finance and supply chain industries.