DEFINITION of 'ASC X12'
The Accredited Standards Committee (ASC) X12 is a body that develops electronic data interchange (EDI) standards and related documents for national and global markets. It was chartered by the American National Standards Institute (ANSI) in 1979 to develop uniform standards for inter-industry electronic interchange of business transactions.
BREAKING DOWN 'ASC X12'
The ASC X12 body meets several times a year to develop and maintain EDI standards that streamline business transactions. These transactions include order placement and processing, shipping, invoicing and payment, as well as data interchange between entities involved in finance, insurance, education and government.