Setting Up Commission EDI

In this section we aim to help answer questions such as; "What's involved in setting up Commission EDI?", "How long does it take?" and "How often can I receive an EDI statement?"

If you use a back-office system, your supplier will usually set-up the system to work with EDI, on your behalf.  IntelliFlo for example, have a centralised EDI Mailbox.  Product providers issue their EDI statements via an EDI Mailbox.  A connector will collect this information and place it on your back-office system. 

You do not need a back-office system to receive EDI (although it assists with commission reconciliation).  If this is the case, you can request an EDI feed to come directly from product providers.  Product providers usually issue a standard form and letter that outlines the details they require.  These details include, FSA Number or FRN*, Company Name and the address of the EDI mailbox (also known as X400 address).

* FRN is your Firm Reference Number (FRN) or FSA Number and gives product providers the authority to open up EDI.

Typical Timescales for setting up the EDI service range from between 1 - 2 weeks.  Product providers usually batch their EDI updates on a weekly basis.  Once the service has been set up, product providers will notify you via your back-office system supplier.  Friends Provident issue an email to confirm that the set-up is complete and also gives an indication as to when you can expect to receive your first EDI statement.

Frequency: Some product providers allow you to state your preference, while others offer frequency at best on a daily basis and at worst, a monthly basis.