What is PSP?

PSP is the multi-industry effort to establish data communication standards. The PSP standards enable the efficient flow of data between trading partners, helping to improve the quality and speed of information flow. Less time manipulating data allows more time for analysis and effective decision-making. This also means lower costs throughout the industry. Please take a few minutes to learn more about how PSP works and how your organization may benefit.

Each organization participating in the PSP network implements the "PSP Specifications" which means they prepare their computer systems to communicate data in the PSP format. Their back-end systems can use whatever existing format they have, but as data arrives or leaves, it is arranged to meet the PSP format.

Metaphorically, for a company which is sending data, their computer systems might speak a language such as "German" or "English" but as the data gets ready to leave, it is converted to "French". The company receiving the data which has adopted PSP knows how to receive data in "French" and then convert the data to their internal language, such as "Spanish". The benefit for those companies involved is that they only need to have the ability to convert data from "French" to their own language, rather than having to know how to convert data in hundreds of "languages"!