Data Entry Outsourcing – Tactics That save you Time and Money
Are you worried about dark circles under your eyes? The culprit is work pressure. You are overworked. Sprinting to cope only makes your business go haywire.So, what is the solution? Simple. Getting things done. The name of this mantra is ‘Outsourcing.’ That said, outsourcing data entry is crucial, as processing and digitizing data is the ultimate tip to wise management.
Are you ready to unlock the definitive secrets to a perfect data entry strategy?
Data entry is, as we know, a redundant business task. But it is essential to increase business productivity. Huge businesses can’t deal with every small thing.
Data from over a million documents needs to be merged with an application.
Data entry outsourcing is the best option.
According to an article by Bain &Company on Forbes.com, companies outsource and offshore not just for cost cutting, but for strategic means and for capabilities they don’t possess or need to strengthen.
Read the complete article here.
In this internet age, manipulation, management, and transparency of data are key to any business. Data is certainly big business.
According to an AIIM Survey, Paper Wars 2014, which had 444 respondents, 68% believed that business-in-the-speed-of-paper would become unacceptable in a few years. 46% stated that removal of paper, ranks among the biggest single productivity improvement for most businesses.
Outsourcing data entry services helps save large scale in-house investments. It reduces administrative burdens and increases top-line growth of the company.
Bottom line, data entry is a core necessity. Knowing more about outsourcing will help you develop your business by focusing on core activities.
How to outsource data entry work?
So, what’s the real story ? How do you actually outsource your company’s data entry? Let me help you understand this better.- Search for a reputed company
- Must be reliable (This is the trickiest part as there are a lot of scams/ frauds out there). Beware!!
- Research on service providers. They are umpteen in number. But there’s a catch. Too much choice means too much confusion and a confused you! Make wiser choices
- What’s good for your business is good for you. So, pick the best
- To find the best resources, to help you out with the how of data entry outsourcing, you can go by either the DIY (Do-It-Yourself) or the DFY (Done-for-you) route
- Freelancing websites such as Upwork provide reviews and ratings
- Use job boards such as https://jobs.freelanceswitch.com/, https://www.freshwebjobs.com/, and https://www.simplyhired.com/a/jobs/list/q-freelance to get specific data entry jobs done
- Considering the DFY route, connect with freelance platforms. These are exploding with opportunities. You are surrounded by tons of options. So, how do you choose the right one?
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- Number of the batch
- Batch date
- Initials of the person who handles the batches
- Number of records on the batch
- First and last record numbers for batches
- Opening the database
- Entering records such as names, dates and abbreviations correctly
- Saving records
- Closing the database
- Printing records for proofreading
How can project managers keep track of outsourced projects?
Managing data entry projects without sacrificing much time and effort on reporting and documentations. This can be done by using a tool that both you and your outsourced company can update and access.
That said, I would like to put the spotlight on ‘Slack.’
It is a cloud-based tool. It aids in team collaboration.
Slack connects you with your team anytime, anywhere. Afterall, being in touch and staying updated is the crux to building successful businesses, right?
It helps you multitask by letting you share files, discuss projects, obtain feedbacks, and brainstorm on random topics. Helps in smooth work flow. In short, it is a one-stop shop for outsourcing..
Sharing and distributing work is made easy with Slack.
Importance of Data Entry for Companies/Organizations:
- Reduces in-house resource and infrastructure costs
- Enhances business productivity
- Helps store and manage data accurately
- Eliminates duplicity
- Go green by storing information in a digital format
Why outsource data entry?
Data entry is a core requirement in the modern world. Companies from every nook and corner want to get work done. But there’s a catch. That must be done without needless office ordeal and waste of time. So, Outsourcing and offshoring has caught their attention. Do you know that India has emerged as the ultimate outsourcing destination?Why outsource?
Accessing accurate and detailed info is of utmost importance. No one wants to waste precious man hours on paperwork and procedures. It helps:- Cut down investments on tools
- Analyze data
- Generate final output
- Receive data through appropriate medium
- Increase speed and accuracy
- Provide expert solutions
- Get accurate organized data
- Increase productivity
- Reduce administrative burdens
- Focus on core tasks
- Eliminate software investment
- Minimize risk
- 83% confirmed the projects met an ROI of 24% plus
- 89% confirmed that data entry initiatives met the ROI goals
- 30% were ‘Just’ satisfied with the results of partners
- 70% were ‘very’ satisfied
- 4 out of 5 is the rating given by participants to the overall data entry activity
Know more through this infographic.
Source: Deloitte
Pros and Cons of outsourcing data entry
Outsourcing data entry is the most popular phrase today. Numerous business sectors are able to deliver great quality performance. Today, we are faced with constant variations in global business. Data entry outsourcing boasts of the following advantages:- Reliable tool to maintain and arrange info
- Helps grow business easily and smoothly
- Provides rapid accessibility to precise details
- Saves time and money
- Increases business capabilities
- Improves performance
- Speeds up data processing
- Creates databases
- Helps face work deadlines
- Reduces burden on administration
- Alleviates stress
- Helps track progress and unleash utmost potential
- Quick processing time
Disadvantages of data entry
I personally don’t see any major problem here. But there is one issue though in case of failure to run a crosscheck of finished tasks. When major data entry services such as accounts, finance, payroll, recruitment, and claims are outsourced, you risk exposing confidential information to third parties.
It leads to inadequate focus as an outsourcing vendor might juggle numerous tasks. Cultural differences lead to poor communication channels, lower productivity, and inconsistent quality outputs, as there is a chance of choosing a wrong outsourcing partner.
Common problems that arise here are delay in delivery and inappropriate responsibilities.
What data entry tasks can be outsourced?
This depends on the nature of the industry and the requirement of the business partner. Some of the services include:- Health care and medical data entry
- Image data entry
- Real estate
- Data conversion
- e-commerce
- filling survey forms
- Online or offline data entry
- Mortgage services
- Questionnaires
- Invoices
- Book entries
- Image entries
- Data capture
- Copy paste services
- Data enrichment and extraction services
- Database development and migration
Finding the perfect data entry service provider
Now, we are faced with the big question: ‘Who suits me best?’ Feel like you are stepping into the ‘confused you’ phase? Don’t you worry. I am here to help you out. Remember, the results of making a wrong choice here are disastrous. So, finding the perfect partner will help you work effectively and efficiently. Fair enough, isn’t it? Paying attention to the following factors will help identify the perfect service provider. Experience- Be sure to choose a committed service provider. They must have a good reputation. Do a lot of research on their tenure in the industry. Be sure to read through services offered. Accuracy- Choose service providers that possess exclusive personnel in error tracking and rectification. Confidentiality- Security of data is very important. Data must be accessed only by authorized personnel and information sharing is strictly prohibited. You must run several security checks. Be sure to prepare a Non Disclosure Agreement (NDA) which includes all clauses for confidentiality. Be sure to modify the NDA to suit your business. Cross check with your team. It needs to be signed by the respective parties. Time driver approach- They must stick to time and adhere to deadlines. The service provider must be driven towards providing efficient and timely data entry services in the best manner possible. Remember what I told you about scams and frauds? Don’t forget to ask for a trial before finalizing your outsourcing partner. Ask the short listed service provider companies on your list to offer free samples of their work. Upload reports or images via email or FTP. Brief them on your requirements and the deadline. This trial will help you zero down on the best service provider.Price structure of data entry
How much would you need to pay?
First and foremost, that depends on how much you are willing to shell out.
Take the type of data, claims, database, requirement, and urgency into consideration.
To give you an idea, the charges offered range from $2.5- $8 per hour. The price structure differs according to the services offered. These are just the base prices. It varies with every service provider.
Data entry is vital to survive in today’s competitive business environment.
Each and every data is important to the growth and success of any sector. Outsourcing data entry is a must in today’s scenario.
Acelerar Tech is one firm that understands the true value of data as an asset. With a team of highly skilled personnel, they provide cost-effective and accurate services.
There is no compromise on quality.
That’s perfect, isn’t it? Quantity sans quality will never serve the purpose.
Some of the services they offer on the data entry outsourcing front are data capture, ebook data entry, form entries, business card entries, data collection and capture, etc.
Achieving success through data entry outsourcing, calls for great administration and organization abilities of the outsourcing partner you hire.
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