What is a Value-added network (VAN)?

A Value-added network (VAN) is primarily understood as an intermediary service that facilitates the transmission of business documents between various entities. This service adds value by not only providing a secure method for data exchange but also by offering additional features such as data translation, error checking, and data formatting. This ensures that information is seamlessly shared between different systems and formats, enhancing operational efficiency and reliability.

VANs act as a mediator in electronic data interchange (EDI) situations, helping organizations streamline their communication and reduce the complexity involved in direct connections. This capability is particularly beneficial in environments where multiple trading partners need to exchange documents consistently and reliably without the need to maintain numerous direct connections.

In contrast, the other options represent different concepts. A database for storing transaction data is strictly a storage solution without the intermediary or added-value features. Software used for financial audits pertains to accounting and compliance tasks, while an online platform for remote meetings relates to communication tools rather than data interchange services. Thus, the defining characteristic of a VAN lies in its role as an intermediary service, making the correct understanding of its function clear.