The Ultimate Guide to Data Entry Outsourcing (2021)

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• The Ultimate Guide to Data Entry Outsourcing
  (2021)
• As businesses enter into 2021, they are striving
  to increase their productivity while also
  decreasing overhead costs. The demand for
  outsourcing continues to grow exponentially in
  all areas, including data entry services. A
  recent report released by Business Wire showed
  that the data entry outsourcing market will grow
  by almost 352 million dollars by 2023,
  registering a compound annual growth rate (CAGR)
  of almost 5.
• Businesses like financial services and insurance
  providers, banking, IT, manufacturing, health
  care and telecom have proven to be the primary
  market drivers for data outsourcing needs.
• Businesses that need to move to data entry
  outsourcing can now do so easily. By outsourcing
  data entry tasks, businesses can save 40-60 in
  operational costs, making it a practical
  solution for overall cost reduction within your
  business.
• Well highlight the key benefits of data entry
  outsourcing in the complete guide to data
  outsourcing below.
• Evaluate your business needs
• Before deciding on a data entry service provider,
  its important to first conduct a complete and
  thorough analysis of your business needs and
  requirements. You should look at, step by step,
  what processes are being fulfilled by your
  employees in every department to determine if it
  makes more sense to outsource data entry. Does it
  add more value to your business and will it
  improve efficiency? Does it offer a scalable
  solution to reduce operating costs?
• Identify your requirements
• After a full analysis, you will have identified
  the extent to which you need data entry
  outsourcing.
• It is now time to break down your requirements to
  specify in terms of service what your
  expectations are for your data entry service
  provider.
• Cost - what is your total budget for outsourcing
  data entry?
• Customization - how much of your data entry tasks
  do you need to outsource? Will your service
  provider of choice have the ability to adapt to
  your business process flows and

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• Customer Support - Do you need 24/7 support
  availability? How would you prefer to
  communicate with your provider when you need
  support?
• Flexibility and Scalability - what are your
  adaptability requirements? What skills and
  infrastructure are you looking for when it comes
  to the scope of growth and expansion?
• Make a list of all possible outsourcing service
  providers
• Now that you have accumulated a list of your
  requirements, it is time to put together a list
  of
• prospective third party outsourcing partners. You
  can do an easy search online to find a good list
  of providers. Visit each website to get a better
  understanding of each individual company to help
  narrow the search down to companies who look like
  a good fit for you. Make a short list based on
  the list of your requirements as a guide to
  identify which companies meet your needs and
  will make a good fit for your business. From that
  list you can decide which provider is your top
  choice. Its also a good idea to research at
  least four other companies in case your first
  choice doesnt work out.
• Schedule a consultation with your top choice
• Now that youve shortlisted your candidates, you
  can move forward with scheduling a
• consultation with your top choice for data entry
  outsourcing. This consultation is a vital step in
  the process in order for you and your provider
  to understand the expectations of each other in
  regards to the type of partnership you wish to
  initiate. This is time when you will also explain
  to the service provider what your service
  requirements are to establish a clear
  understanding for both parties as to what the
  partnership includes, all the way from the
  transition process to quality monitoring.
• Prepare a transition plan
• Now is the time to begin the planning stage for
  transition. It is important to establish who and
  what will be involved in this process. What will
  you need to do on your end to prepare? What will
  be required from them on their end? It is
  essential to ensure a smooth transition in order
  to establish a successful partnership from the
  beginning. Having a well laid out and well
  thought out plan helps you to avoid any issues
  that could otherwise arise, like data corruption
  or loss, an extended interruption of business,
  compliance issues or security breaches. This is
  also the time to prepare your team for the
  upcoming transition. Establish an in-house point
  person to handle all transactions with the data
  entry service provider if necessary.
• Plan for system and process integration
• Once the transition stage has been completed,
  its time to map out all essential integrations.
  An experienced outsourcing partner should
  already have an established system and process
  integration guideline, so you shouldnt have any
  problems. The most important thing is to be sure
  that data security is carried out correctly to
  ensure the safety of your business data. This is
  also the point in the process to analyze if your
  choice of outsourcing partner was the right one.
  If any of the transition or integration stages
  are not working out in the way you expected, you
  may want to consider a different outsourcing
  partner.
• Schedule regular process and quality reviews

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After a smooth and successful integration stage,
you will still need monitoring to assess the
performance of your new service provider. Gather
feedback on a regular basis from your point
person if you have established one, and anyone
else on your team who has been impacted,
positively or negatively, by the decision you
made to outsource data entry. By conducting
regular process reviews, you will better
understand how your decision to outsource data
entry affects your bottom line. By doing so, you
will also be able to make better business
decisions, like outsourcing other processes or
scaling data entry projects. Data entry
outsourcing is extremely critical for all
businesses, so you should make your decision to
outsource with genuine thought and care. If you
are interested in or looking to outsource your
data entry tasks, the specialists at TRONITECH
Managed Document Services work directly with you
to communicate, collaborate and provide solutions
to your data entry processing. Contact us today
to discuss how we can help.