PAYORD :
|
This eliminates the need to report BOP data separately and
reduces the reporting burden on enterprises and individuals. |
BOPINF :
|
This avoids costly manual interventions in credit
institutions automated processes and would be particularly useful for dealing with
requests for additional information.
Banks clients will also find reporting easier. |
BOPCUS :
|
A credit institution needs only to add simple information
(such as its own identification number) to the relevant data from its customers and pass
it on (electronically) to the BOP compiler - a process that should lend itself to
automation. |
BOPBNK :
|
A credit institution can send its own BOP information along
the same network using the same equipment as it uses to report customers data.
Most of this information is already held in electronic format and it generally needs only
a once-and-for-all translation file to transmit EDIBOP data to the compiler. |
BOPDIR :
|
Since EDIFACT is a multisectoral standard, a company only
needs one language to communicate with all its partners, including BOP compilers.
It enables a multinational company to generate BOP reporting at one central location on
behalf of all its establishments in the various countries (a harmonisation of methods of
collection of data would also facilitate this process). |
BOPSTA :
|
By using BOPSTA, an international organisation only receives
one type of data transfer from all BOP compilers.
A BOP compiler only uses one type of data transfer to all international institutions or to
other BOP compilers. |
