Data entry is the process of transcribing and digitizing data from one medium to another medium and often from one format into another. For example, when we transcribe a handwritten note into a digital word document, it can be considered a data entry process.
Data entry ensures different formats of data in a company are digitized and categorized correctly, so it is available to use when needed. Data entry can also help organizations free up physical storage space that is otherwise occupied by physical documents.
However, although data entry is definitely a necessity, it is often a time-consuming and resource-intensive process. By assigning data entry to our valuable in-house employees, we’ll make it more challenging for these employees to focus on core tasks that can contribute more to achieving the organization’s goals.
This is why many businesses now opt to outsource their data entry processes to third-party vendors and professionals, and below we will discuss some of the benefits you can gain from outsourcing data entry services.
1. Cost-Efficiency and Saving Time
Data entry, as mentioned, is often a time-consuming and repetitive task to work on, and on the other hand, you’d want your valuable employees to spend their time on tasks that matter the most to achieve your business goals.
Outsourcing your data entry processes can help you save the valuable time and resources of these employees.
On the other hand, sophisticated data entry service providers like Oworkers can provide 24/7 execution of your data entry tasks when required by letting their professional data entry experts work in shifts. This way, you’ll also get a faster turnaround time which will help your company save its valuable time in achieving the business objectives.
2. Better Accuracy and Work Quality
Data entry might require specific skills that your in-house staff may not have at the moment, and it might not be wise to hire an in-house data entry expert since you might not have that many data entry tasks to justify the cost.
Third-party data entry service providers, on the other hand, offer the service of expert data entry operators that have decades of combined experience of handling various different types and formats of data.
By outsourcing data entry services, you’’ gain access to this pool of data entry experts, and you can hold the outsourcing company accountable for understanding your data entry tasks’ specific requirements.
3. Data Security
Data is getting more valuable than ever, which at the same time inviting more cybercriminals to target your sensitive and/or regulated data any time. The data entry process, on the other hand, can be a potential vulnerability that can be exploited by hackers and cybercriminals.
If you plan to build an in-house data entry team, then you’ll also need to invest in appropriate security infrastructure and tools, which can be expensive.
Professional data entry vendors will allow you to gain access to these data security infrastructures, while also ensuring cybersecurity best practices to ensure the security and integrity of your data. Also, they’ll be responsible for reporting audit trails for all system activities and scanning their servers for penetration testing.
In short, when outsourcing to the right data entry service provider, you are not only paying for a team of data entry experts but also for security infrastructure and techniques.
4. Enabling Scalability
For most businesses, data entry needs can be fluctuate depending on the organization’s needs. For example, at the end of a fiscal year when you’ll need to generate an annual report, you may need a lot of data entry tasks to be executed. However, hiring an in-house team might not be a wise answer for this purpose, since once the job is over, you may not have enough data entry tasks to justify the cost of the in-house team.
On the other hand, there may be cases where you’ll get a sudden need to execute a data entry task immediately, and you may not be able to hire the required staff in the available time frame.
By outsourcing your data entry process, you can eliminate these scenarios, as you’ll get the versatility to increase or decrease the data entry volume depending on your actual needs. Thus, outsourcing the data entry process can help improve scalability, and you’ll also be able to run several data entry processes in parallel when required.
5. You Don’t Need To Train Your In-House Team
Another benefit of outsourcing the data entry service is that you don’t have to spend more time and money training in-house employees, which we know, can be time-consuming and expensive.
Outsourcing your data entry process to a reputable vendor allows access to trained and experienced data entry experts that have worked with different clients in different industries. As a result, you’ll get a faster turnaround time and more accurate execution.
If you, otherwise, opt to build your own in-house data entry team, you’ll need to deal with hiring, training, and so on. Not to mention you’ll also need to take care of employee benefits. By outsourcing, these responsibilities will be handled by the outsourcing partner.
The biggest benefit of outsourcing your data entry process is the improvement of cost-efficiency. However, when you outsource the data entry task to a proper service provider and/or professional, you’ll also get the consistency of getting the same level of accuracy and quality of work every time you need it.
You can save 40% to 60% of the cost of getting your data entry tasks done in-house, and you’ll also save more money otherwise required for infrastructure, onboarding, and training.