Top 4 industries that makes the most of outsourcing data entry
Data entry is a non-strategic process yet important & tedious one for every businesses if carried out in-house. But outsourcing proved as a better way out for making the data more accurate & precise according to business requirements.
Data entry is a non-strategic process yet important for businesses. It allows organizations to maintain a smooth workflow internally. There are various industries that have to process data on a daily basis, mentioning some- telecom, healthcare industry, retail, e-commerce, banking, finance, transportation, logistics, etc. These industries have to follow a strict protocol when it comes to data entry.
But a lot of companies get confused while managing a massive amount of data in a precise and accurate manner. Along with complexities, it is a time-consuming and tedious process that demands expertise. Moreover, it demotivates employees and doesn’t allow them to grow their skills. Thus, most of the companies prefer outsourcing data entry services for increasing their business productivity.
The Top industries benefited from data entry services are as follows:
Telecom
Telecom is one of the most popular industries worldwide. Their operations include handling of thousands of official records, which often is very time consuming and demands an expert team of professionals to streamline their work.
Data entry solutions have benefited telecom industry by effectively managing their data entry process. Their team of experts helps in storing the official records of telecom companies in the assigned database in order to manage the telecom billing method. Even the big names in the telecom industry such as Vodafone Group Plc. Verizon Communication Inc., AT&T Inc. demand for maximum care, accuracy along with cost-effective options for their data entry process.
Healthcare
The prudent and accurate management of patient records is the key requirement in the healthcare industry. The data entry tasks included in the healthcare industry is documentation of billing forms, patient detail, management of data collected, etc. Various hospitals usually struggle to provide quality care along with other day-to-day tasks.
According to Tom Lowery (healthcare financial controller), 80% of the medical bills contain errors as most of the hospitals are not updated on the billing regulations and methods. By outsourcing, medical firms can have an access to the team of experts who are trained to maintain high accuracy and make sure all your bills are error-free. They are amendable with all the laws related to the healthcare sector and ensure that all the laws are strictly being followed by HIPAA and the Healthcare Reform Bill. Having a positive billing practice in the hospitals hits the bottom line of the healthcare business.
Real estate
Evaluating the commercial and residential properties, creating a new database of clients, evaluation of customer details; are essential in the real estate business that eventually deviates the focus of business owners from their core business tasks. When data of a real estate firm is managed by experts using the right tools, it reduces the burden of realtors and helps them to focus on their core competencies.
Along with accuracy, speed, and precision, you can save your cost of hiring an in-house team for data entry work as you get an access to the team of experts that offer better data management. External sources make sure to minimize your operational costs and maximize the effectiveness of your real estate firm.
E-commerce
E-commerce is the leading industry in today’s business world. One of the popular e-commerce companies in the U.S estimated that the sales of e-commerce businesses are going to increase up to $27 trillion in 2020. With such a high amount of sales comes a large quantity data as well. So, handling the data in the e-commerce business needs to be faster, accurate and reliable. There are various data entry aspects in e-commerce business that needs to be managed such as adding product images, product uploading, keying in product features and specifications, etc. Thus, it becomes difficult for e-commerce businesses to manage data entry work in-house, as the technology keeps on changing and they need to meet customer expectations timely.
With external data entry services, companies can focus more on the delivery of products rather than managing the data entry aspects that can be managed well by the experts at affordable costs.
Some of the top e-commerce companies in the world such as Amazon, Alibaba, Walmart, Otto, etc., have confidence in outsourcing data entry services as it allows them to focus on their core business activities and enhance business productivity.
Final Word
Data is the core of business and no entrepreneur want to hear data loss, data breach, inaccurate data etc. So businesses should understand the importance of data entry and train their employees as well on the same. At the end I would wrap up with a beautiful quote of Mike Schmoker, “Things get done only if the data we gather can inform and inspire those in a position to make difference”.
