Business Process Outsourcing: Industries that Can Benefit from Data Entry Outsourcing
The data-entry outsourcing services market share is expected to increase by USD 504.12 million from 2020 to 2025, at a CAGR of 5.95% according to a report by Technavio.
Business Process Outsourcing enables you access to delegating back-office and clerical tasks such as data entry. Here are some industries with data entry services that can be delegated through business process outsourcing:
Finance and Accounting
The Finance and Accounting Outsourcing market in the U.S. is estimated at US$18.3 Billion in the year 2021. The country currently accounts for a 45.7% share in the global market.
Business process outsourcing in Finance and Accounting industries enables delegation of data entry services such as organizing, managing and processing billing and invoice reports, maintaining accounting records, and making sure procedures are fully compliant.
Roughly 25% of all U.S. hospital spending consists of administrative costs.(Commonwealthfund)
In Healthcare business process outsourcing, accurate data entry is provided by outsourced support and billing specialists. Healthcare Support Specialists coordinate and communicate with healthcare providers and patients. They maintain departmental records, reports, and files, transcribe, make follow-up telephone calls to maintain accurate records and ensure that medical record account entries are up to date.
Outsourced billing specialists ensure timely & correct payment posting, and eligibility verification. They process claims according to plan, documents while applying company policies and procedures, verifies data entered from the claim form is accurate and complete to enable the claim to be processed correctly and improves claim payment accuracy.
Outsourced Healthcare customer service outsourcing specialists process confidential medical documents and accounts creation, participate in all quality assessment activities and assist to collect and analyze all information and recommend required improvements to all processes such as insurance claims and verifications.
Property Management and Real Estate
More than 300,000 property management companies are registered in the United States. The national industry employs over 367,000 workers, excluding self-employed managers. (iPropertyManagement)
General Customer Support is one of the functions in real estate and property management that you can delegate in business process outsourcing. Administrative and Operations functions such as Data entry support ranges from Document management, maintenance of Listing Updates, rental listing management, invoice and billing processing, Maintenance of invoices and Lease adjustments/requests.
Connext Global Solutions provides Excellent Business Process Outsourcing Solutions
Connext Global Solutions is a dedicated team of business process outsourcing experts and innovators, with experience in supporting world-class companies in Title and Escrow, Healthcare, Produce Distribution, Retail and Fashion, Design Consulting, and Finance.
Connext also provides customized and highly flexible offshore staffing solutions designed to supplement onshore client staff with highly qualified, but lower cost offshore team members personally selected by the client.
With Connext, clients can build a team of:
- Virtual Nurses
- Certified Public Accountants
- Customer Experience Professionals
- Administrative Assistants
- Web Developers
- Data Analysts
- IT Help Desk or Service Desk Support
- And More
Organizations can also build custom cross functional offshore teams which they can scale up or down as they see fit.