data entry outsourcing

Data Entry Outsourcing For Cost Reduction

Data entry outsourcing is implemented by a growing number of companies for several reasons. Some companies need to convert files from one format to another. Others need to update their online databases. Data entry generally involves:

  • Extracting critical data from dense documents;
  • Compiling and updating databases;
  • Converting numbers into viable statistics, among other things.

Companies often find it easier to outsource some, if not all, of these tasks to outside companies that specialize in data entry. This saves the company time and money and allows it to focus on its core competencies. Data entry activities can be managed faster with the help of technology. When outsourcing, companies gain access to new technologies and employees worldwide. Building an in-house data entry team with the right experience and skills can be a challenge. However, the possibilities increase when location restrictions are removed.

7 Factors Of Data Entry Outsourcing

Do you think data entry outsourcing is the best strategy for your business? If you don’t know where to start, we’ve put together a list of tips to help you out:

1. Volumes

Volume analysis is an essential step in process management. This is the case for seasonalities where data volumes are higher during a specific period. In certain situations, it is necessary to have more dedicated and specialized staff. Also, if volumes are higher for a few months. Then you should be ready to assign more staff during that time.

2. Quality input

Although the tasks may appear to be low-level, they can be complicated. Furthermore, depending on the nature of the functions (e.g., processing confidential information). Also, the data entry process may require a high level of specialization.

3. Security and data protection

Sometimes these activities consist of managing personal and sensitive information. Therefore, a high level of security and data protection is important. In addition, each company should consider the General Data Protection Regulation. This is to manage information relating to European data subjects.

4. Turnaround time

Another essential aspect to consider when choosing Data Entry Outsourcing is the speed of the turnaround time. This can depend on several factors, such as the project’s urgency, volume, timing, etc. In addition, your outsourcing partner should have a strategy. It should consider deadlines and how to deal with contingencies.

5. Know-how And Data Entry Outsourcing

The outsourcing partner should have solid experience. It should consist of managing data entry projects and sufficient industry know-how. Extensive experience is an added value that can help you manage your campaign, monitoring, and reporting efficiently.

6. Infrastructure

Make sure your partner has the right technology to start a data entry project. Most basic projects do not require special technical requirements. However, some projects may require specific things. Such as optical character recognition software, voice recognition, and image recognition. Also, specialized conversion software, monitoring software, etc.

7. Backup and emergencies

Finally, an outsourced partner should be able to provide a backup plan. In case of an emergency or disaster. The backup plan should include secure backup data, secondary Internet lines, etc. In this case, work would not be stalled in case of unforeseen emergencies.

Benefits Of Data Entry Outsourcing

Outsourcing is becoming increasingly popular in all sectors. Here are the 3 key reasons for outsourcing:

Cost Savings

You don’t need to invest resources in hiring and training a new employee to carry out this task. There is also no need to invest in data entry software licenses. In addition, another great opportunity is that you can contact a supplier company located anywhere in the world. This can result in achieving additional cost savings. For example, hiring a supplier in a smaller country has a lower cost. Especially if you compare it to a supplier in the United States.

However, if you are wondering about the quality of service, that is not a problem. As long as you contact a service provider with a good track record and references.

Increase In Accuracy

Dedicated data entry workers are experts in their field. They have been trained to do so, limiting the margin of error in each project. As outsourced staff brings their professional expertise and tools. They are likely to provide accurate and time-efficient data entry. Especially when compared to an inexperienced in-house team. The outsourced company brings its tools and expertise. This results in efficient and accurate data entry. Especially when compared to inexperienced in-house staff.

Increase In Focus And Productivity

It is natural for a company’s staff to be focused on carrying out the company’s core business. For example, a real estate company is focused on identifying properties and new business opportunities. Therefore, assigning data entry work to one of these employees does not make sense. As it will cost them time away from what they specialize in. This could directly affect their productivity. Also, subsequently, the company’s efficiency.

Data Entry Outsourcing – Conclusion

Data entry outsourcing takes care of all these headaches so that your employees can focus on what they do best. Contact us to find out more!

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