Data entry is one of the most important processes of business management. Top companies across the globe prefer to outsource data entry services for expanding their business efficiently. Data is compared to the oil that fuels your business. Rightly so, information is an invaluable asset for an organization. From understanding customer behavior to market analysis to doing web research for your product line, each task requires proper data management skills. Enriching and managing the raw business data can give you much-needed information that helps your business grow.
Extracting information for making smart business decisions and defining your organization’s objectives is only possible if you have accurate and well laid out information with you in the first place. And for you to analyze the business data, it should be keyed in the exact format that you can access without difficulty. Hence comes the need for the outsourcing team to get your work done quickly and efficiently for a better future and accessing the business information as and when required.
Whether you are a large scale organization or medium scale one, or you may be a start-up, the most important factor that decides your profitability and sustainability is how you take your business decisions and for that the most important factor in analyzing and researching the business-critical data in a very smart and efficient manner. For that, you need all the data available at the click of a mouse.
This turns out to be a very time consuming and hectic job for business owners, yet this is the most important task. If you have a reliable outsourcing partner working for you, you can easily get your data managed by professionals consistently without any hassle so that you can access the data when needed and thereby make good business decisions. For instance, for accounting firms, who need to enter a lot of bills, vouchers, claims, etc. on a daily basis, even a slight mistake can prove costly.
Hiring a good agency for the same can take the monkey off the back of the owners, and you get these tedious tasks done at the click of a mouse, and moreover, you reduce your operational cost by as much as 55%. Similar goes out for other verticals like insurance claims processing, Web research works, medical records data entry, etc.
How can Outsourcing Data Entry boost your business growth?
Understanding data entry
Let us start with the basics. Business data refers to details like facts and figures that may have been gathered for analysis, calculation, reasoning, decision making for future decisions. This data can be present with you in the form of paper documents, computer codes, spreadsheets, etc. Most of the time, this data needs to be present in digital formats required by the organization.
That’s where the importance of the data entry team comes in. Extracting the required information from various sources and keying inaccurately to the desired electronic format is what data entry is all about. It keeps your data easily accessible and ready to use. That’s why data entry requires dedicated staff and accurate output. Here is why you would want to outsource data entry services to get your data managed in a smart manner.
Data Entry is an umbrella term that includes in it a lot of categories like :
Product data entry
Manual data entry
Online data entry
Offline data entry
Numeric/text data entry
Mailing list compilation
Data mining and data entry
Remote data entry
Logistics data entry
Insurance Claims Data entry.
Medical Records Data Entry
Every classification is important, and each industry requires data in different formats, which is why outsourcing is the best bet for companies to get skilled manpower on board at reduced prices.
Immediate access to information
By outsourcing the process of data input, you can have access to required information critical for your business at the click of a mouse, and you don’t have to bother about the hiring process, infra, and training costs. That makes you free for other core activities of your business.
You save up on valuable time and money.
Outsourcing reduces your operational cost by as much as 55%-60%, thereby helping you save money and resources, which further could be used to quickly scale up your business.
Access to the latest technology
Technology is rapidly evolving. You need to constantly be updated with the latest trends to fetch the data in required format. With outsourcing, you get access to the latest trends in technology without investing in it.
With all the advantages mentioned above, it is important to understand the challenges faced in data entry. Data entry can be quite challenging because of the following reasons:
Data entry is error-prone
Data entry includes various kinds of processes such as copy-paste, drag and drop, document linking, etc. These processes require attention and, if not paid heed to, are prone to errors. Which eventually makes the business suffer? Therefore, accuracy is the most important factor in ensuring quality data input.
Maintaining data quality is difficult.
Data needs to be consistent. That is the one area that requires attention. The quality needs to be superior for getting the most out of it.
Data is way too vast.
Huge volumes of data can be difficult to process and manage. This may lead to discrepancies, costing businesses in the long term. Therefore, big data needs to be managed with efficiency and precision.
How to choose a Data Entry Outsourcing Partner?
There are a few tips to choose a reliable outsourcing partner for your data entry needs:
- ISO certification: Always look for an ISO certified company for outsourcing your task. You can be assured of their process of work and quality management.
- Free sample: Ask for a free trial of a day, to get an idea of their quality so that you can decide on the project after seeing their work.
- Quality Check: Look for errors in the work. If they have a quality check process in place, you may assume the utmost accuracy. If not, you can decide to choose someone else.
- Robust Team and Infrastructure: Talk to them if they have the bandwidth to increase the number of people on short notice, as this may be crucial to your business.
- Agreement: You may also opt for SLA and Non-Disclosure agreement to ensure legal clauses in your relation.
6. Reliability: Last but not least is always going for a reliable service provider. You can check this by their communication availability and responsiveness to your work. I also chose a dedicated PM for your work.