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Many industries strive for a higher degree of standardization for facilitating interaction and data exchange between companies, as well as with their external business partners. To achieve this, industries have developed standards specific to their businesses that enable consistency of information across all parties, and ensure compliance with any applicable regulatory laws. For example, industry standard data formats include ACORD for insurance, FpML for financial derivatives, FIXML for financial trading, MISMO for mortgages, and GJXDM (and others) for federal government applications. The pharmaceutical industry is also engaged in several standardization efforts, one of which is the Health Level 7 (HL7) standard. HL7 targets several areas and scenarios, all represented as separate artifacts within the overall effort.

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Format:HTML
Date:Jun 2007
Pages:9

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