The article discusses some advantages of data entry outsourcing.
Data Entry Outsourcing: Should I Outsource Data Entry Services?
Data is essential to a company and must be processed properly. In a business, the collection, entry, processing, and analysis of data is time consuming.
This is one of the reasons most companies choose to outsource data entry.
“Data entry is one of the most outsourced roles in every industry.” – Indeed
In fact, According to Indeed, data entry is one of the most outsourced roles in every industry.
According to Technavio, the data-entry outsourcing services market share is expected to increase by USD 552.63 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.1%.
Business Process Outsourcing enables businesses access to delegate clerical administrative tasks such as data encoding and data entry.
Business Process Outsourcing lets businesses find global talent at a much lower cost than domestic inhouse hires at the same level of productivity.
Businesses can outsource industry-specific operations such as Data entry to take advantage of lower costs. Outsourcing business processes ensures the project adheres to client requirements, scope, resources and materials, budget, and timeline.
There are several types of costs you can save through outsourcing data entry to a third-party provider. These include lower costs per production hour, lower cost per sale, lower support costs per customer, lower facilities and administrative expenses.
Although considered a clerical task, Data entry is industry-specific and highly technical.
With the right outsourcing provider, clients can build a dedicated data entry outsourcing team who have highly specialized skills perfect for providing industry-specific business support.
Outsourced Data Entry specialists are proficient in data encoding and management and can easily provide customized support on data requirements.
They have up-to-date knowledge of functionalities of software and systems, requiring minimal or no training at all.
Businesses can find qualified outsourced Data entry staff with excellent time management skills and solid organizational skills. Data entry roles that are specific to an industry that businesses can assign range from the following:
- Appointment Setting
- Lead Generation
- Order Payment and Processing
- Transaction Processing
- Bookkeeping
- Invoice Uploading
- Medical Transcription
- Medical Billing and Coding
- Administrative Assistance
- Virtual Assistance
- Property Management
Read our previous article for data entry outsourcing roles businesses can outsource.
Another benefit of Data Entry Outsourcing is to shorten the turnaround time. This is important in measuring the efficiency of business process operations.
Data entry specialists provide timely support at a quicker turnaround time.
Data entry specialists provide timely support at a quicker turnaround time, making operations efficient and clients satisfied.
Data filing, collection and entry are administrative tasks that all need to be met with accuracy and on-time support.
Data entry, with no verification layer steps, has an error rate as high as 4%. That means the error rate for data entered once is 400 per 10,000 entries – which affects even small datasets significantly.
Data Entry Specialists file accurate and updated data that are easy to access in a database or software, meeting large volumes of data entry in a timely and systematic manner.
“Data entry, with no verification layer steps, has an error rate as high as 4%. That means the error rate for data entered once is 400 per 10,000 entries – which affects even small datasets significantly.” – Opin
Outsourced Data Entry Staff are highly capable of encoding, collecting data, generating accurate reports. They make sure reports are accurate and free from errors and datasets are properly recorded and included.
Conclusion
Data Entry Outsourcing improves operations and provides several advantages to a business.
Some of the advantages are the following:
- Business Process Outsourcing lets businesses find global data entry talent at a much lower cost.
- Data entry outsourcing staff have highly specialized skills perfect for each industry.
- Data entry outsourcing staff are highly proficient and experienced and require minimal to no training.
- Data entry outsourcing staff have excellent time management skills and solid organizational skills.
- Data Entry Outsourcing shortens the turnaround time.
- Data Entry Specialists provide accurate and on-time support.
Connext Global Solutions is a remote staffing provider that offers excellent Data Entry Outsourcing solutions.
Aside from improving administrative operations such as data entry, outsourcing services and business processes to Connext lets you outsource more front-office and back-office operations at a reduced cost.
Industries Connext Caters to:
1. Healthcare Providers
2. Distribution
3. Telecommunications
4. Title and Escrow
5. Property Management
6. Accounting
7. Banking
8. Technology
9. E-Commerce
10. Retail
11. Construction
12. Professional Employer Organization
13. Insurance
Through outsourcing services via Connext, there is a 60% reduction in the client’s average cost.
Connext Global Solutions provides flexible and scalable solutions that unlocks client growth. Typical outsourcing firms require a minimum commitment of a minimum of 5 up to 50 employees.
Connext Global Solutions allows clients to start with as little as 1 full-time employee and scale as they see fit. Clients can build, train, manage their offshore based on the current need and adjust – scale up or down, as they go along.
Connext Global Solutions is uniquely positioned to take on new projects, regardless of size and scope. The company enables client growth through providing outsourcing services from our offshore support team of industry experts, white glove account management, work tools, operating facilities, process improvement, systems and automation. Our custom outsourcing solutions lets clients focus on the core business and the business specific processes, providing them competitive advantage and growth.
Learn more about Connext Global Solutions.
References:
“Data-entry Outsourcing Services Market by End-user and Geography – Forecast and Analysis 2022-2026.” Technavio. https://www.technavio.com/report/data-entry-outsourcing-services-market-industry-analysis#:~:text=The%20data%2Dentry%20outsourcing%20services,at%20a%20CAGR%20of%206.1%25. Published in September 2022. Accessed October 21, 2022.
Indeed Editorial Team. “20 Examples of Jobs Commonly Outsourced by Businesses”. https://www.indeed.com/career-advice/career-development/jobs-that-are-outsourced. Published September 16, 2021. Accessed October 21, 2022.
Chris Zaugg. “Is manual entry or automatic data extraction more reliable?” Opin. https://opin.com/manual-entry-data-extraction-v2/. Published on June 21, 2016. Accessed October 21, 2022.
