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How to Outsource Data Entry Services

By : eDataMine - 09-08-2021
How to Outsource Data Entry

Isn’t it obvious that any business will want to cut its costs while boosting its productivity? That’s why the demand for outsourcing multiple business solutions (data entry too) is on a rise. As per a report in business wire, the outsourcing market of data entry will rise by USD 351.84 million (2019-2023) and will record a compound annual growth rate (CAGR) of around 5% by 2023. Banking, finance and insurance (BFSI), IT, telecom, manufacturing, and health care are the chief market drivers behind this.

As many businesses are opting for this method, it proves that outsourcing is a cost-effective as well as a profitable option. Because businesses can not only cut down the costs by 40 to 60% but also boost operational efficiency and revenues.

A Road Map of How to Kick Start Data Entry Services?

If you’re not sure how to proceed with outsourcing data entry processes? Fret not. We have prepared a guide through which you can get going with this practical and cost-effective business decision.

Assess Your Business Requirements

It is advisable to conduct an out-and-out analysis of your business requirements before you sign a contract with a data entry service company. You can ask your employees to conduct a step by step process across all departments and see if it makes sense to outsource data entry services. Analyze carefully if it adds to your business or takes away from it? Will it be scalable as you need? Will it improve employee performance? Will it considerably lower operational costs? Asking these questions and getting a satisfactory answer is necessary before considering outsourcing.

Identify Your Business Needs

Once you have known the extent of your requirement for data entry outsourcing, you will be able to dissect your specifications. Based on that, you will know what will your contract include. It is also required to specify in terms of the service you are anticipating from your service provider.

• Expense: Decide on how much do you want to spend on outsourcing?

• Service Personalization: After deciding upon the scope of the data entry tasks you are aiming to outsource, find out if your chosen service provider is capable of providing tailored solutions that align with your business goals.

• Employees: You know the size of your data workload, find out if your service provider has enough manpower to look after it efficiently and flawlessly?

• Latest Technology: Will your service provider have the latest tools and apps to satisfy your data entry needs?

• Data Confidentiality and Security: Quite important this one is. Does your outsourcing data entry partner offer an NDA and are ISO certificated? On the premises, who all have access to your processed data? Get complete clarity of what safety measures and systems your services provider has in place to ensure the security and privacy of your business data.

• Turnaround Time: Based on the work volume and work complexity, how quickly do you want the output?

• Client Support: An outsourcing provider usually always offer client support. Find out the preferred methods of communication in case you need it. Plus, make it clear if you need 24×7 availability from your provider.

• Adaptability and Scalability: Find out what infrastructure and skills you will need when it comes to development and capacity growth.

Make a List of Potential Outsourcing Companies

You can explore on the internet but it will take time to know which one fits the bill. Narrow down your search to a specific list and go through their websites to learn more about them. Pick out your most favored choice and keep others as options, if it doesn’t work out with the one you have picked.

Schedule a Call or a Meeting

Use this chance to convey your requirements. Make sure that everything remains clear and both companies concede on what the partnership encompasses, from beginning till the end.

Create A Transition Plan

A perfect transition confirms that the partnership goes well. Decide clearly on who & what will be included in this transition? What will you need to plan on your end and what will they require to do on their end? With this, you will avoid issues like data loss/corruption/misuse, extended delay of the processes, security violations and compliance issues.

Understand The System and Process Integration

Now is the time to check how your outsourcing decision is benefitting your business. Also, make sure that data security is performed as asked for the safety of business data. If the transformation and integration stages are not working out as anticipated, then you can re-consider your outsourcing provider in time.

Plan A Proper Process and Quality Review

Keep on observing and evaluating the performance of your service provider. Analyzing the process regularly will enable you to experience how your outsourcing decision is helping you at the core of the business. Based on this, you will know if you want to extend your project or cut it short. It will also let you figure out if you want to outsource other processes or not.

Closing Remarks

How you and your outsourcing partner navigates through the project, is what decides the success of your association. The outsourcing partner must provide you with the finest quality, customized and accurate services with the best market rates. The best outsourcing partner will take up all your in-house data entry work. Hence it is necessary to find the right one.

If you wish to outsource the data entry tasks, let us know and we will schedule a call to discuss this further. Claim your free trial today info@edatamine.com