Data is an integral part of any business- be it in a paper or digital format. Managing these immense amounts of data requires a lot of time and resources which mean the other core business activities might get neglected. This is a major reason behind outsourcing the data entry work to companies who handle such non-core data management jobs. Outsourcing your data entry requirements of has its benefits and drawbacks to consider before making a decision.
This post outlines the factors that you must consider to successfully outsource the work to the right company.
Types of Data Entry Requirements You Can Outsource:
- Product based
- Manual data entry
- Related to accounting
- Remote data entry
- Mailing list
A company may require all of these or at least a few of these genres of data entry.
Criteria to Consider:
To ensure the data entry requirements of your company is smoothly executed, it is important to consider the following factors before hiring:
- Turn around time
The turn around time or TAT is the time a company needs to deliver your project with accuracy. While choosing a data entry company, analyze whether they can work smoothly with the bulk of the project. Check their TAT to determine if they are qualified enough to handle the work. Also consider whether they are consistent about their turn around time. The faster they will be able to deliver the project from their end, the faster you can process the business activities that require these processed data. There are operators who also work round the clock which is an added advantage as you can reach out to them at anytime and rest assured, your work is executed faster.
- Accuracy and services
When you have decided that outsourcing data entry works, it is essential to thoroughly understand the services the chosen company provides. Check the workforce and infrastructure of the company to get an accurate idea. Choose a company which provides different services related to data entry as this will save a lot of time, resources and money. Apart from the number of services the company provides, you must also check their track records to understand the consistency and accuracy of their services. The following factors should be observed in order to understand whether the agency is dedicated to maintaining accuracy:
- Regularly audit to ensure accuracy from the agency.
- Check if a dual key system is followed since a high level of accuracy is needed.
- The company should have specialists for tracking and rectifying errors.
The slightest error in data entry can cost your company dearly. An agency who has past records of frequent error in their work should be avoided.
A reputed data entry company will be using the latest technology for providing accurate and quick results. When you are hiring an agency, ask and learn about the software and technology they use. Research on the latest technologies in data entry so that you can negotiate better with the agency regarding the software and the services you are looking for.
- Data security
Data security is an important factor that should be considered. A data entry agency has several layers of security to protect their system. Since a company who is outsourcing their data entry shares some of their most confidential data with the agency, hacking and loss of data can lead to a major loss. If you are choosing an online data entry service, consider an agency which primarily focuses on strengthening their data security system. Opt for companies who agree to have a signed bond regarding the confidentiality and security of the data. While choosing the company check whether they have an ISO certification, NDAs and enough CCTV camera on their premises.
- Cost of services
The primary reason behind outsourcing data entry is to cut down the labour and cost which in turn will increase your profits. Hence, the cost of outsourcing must be kept as low as possible. Tally the rates of different agencies and ensure that there are no hidden costs involved. The key is to look for an agency which is reputed for their consistent quality service but has a standardized rate which is reasonable. You can easily find the service charges on their website.
Do’s and Don’ts of Choosing a Data Entry Service Provider:
- Learn in detail about the security system of the company you are choosing.
- Go through reviews and forum comments and complaints to analyze their reputation regarding accuracy.
- Communicate with the company about the software they employ and their customer service.
- Do not compromise on the services and the requirements you have just because the agency fits your budget.
- Relying too much on a relatively unknown company who are not ISO certified or does not have any similar certifications can prove to be risky.
- Avoid choosing companies offering unrealistic cheap deals as it may mean mediocre services.
Choosing a company to outsource your data entry requirements to should be done carefully as a bulk of your confidential and sensitive data is at stake. Keeping in mind the factors mentioned above while selecting the data entry company will ensure you get the best solutions for maintaining a significant profit margin.