Data entry outsourcing versus in-house: costs and benefits
Data entry outsourcing is the act of either transcribing written documents into digital data or converting one type of electronic data into another. It can be used for a range of data types, including medical or legal records, personal information, and many other types of data. Accumulating well-organised, accurate data is key to accelerating business growth, but it can be a laborious and time-consuming process. Outsourcing data entry can give you access to quality data at a competitive price, freeing you up to focus on your core business operations. Here are some of the cost vs. benefit considerations.
Labour expenses
Today, businesses must offer appropriate salaries to recruit competent, skilled staff. Labour expenses can be high if you choose to recruit an in-house data entry team, but you can significantly lower these costs by outsourcing tasks like data entry, data mining and data processing to an external company. This can help increase profitability as an alternative to doing the work in-house.
Investment in technology
When you have an in-house data entry team, you also have to invest in hardware and software, train your staff and maintain the team for the long term. By outsourcing your data entry to an external company, you can cut down on these capital expenses while getting access to experts who use the latest technology to deliver quality results.
Recruitment costs
The process of hiring extra staff is costly in itself, and by choosing the outsourcing option you can avoid the expense and the extra workload. There is also the staff turnover consideration, as employees tend to move on and need replacing after a while. Outsourcing takes away all these complications and expenses, so you can maximise profits and keep the focus on what your business does best. Data entry experts can provide data entry keyers, typists, transcriptionists, clerks and online form fillers, bringing you the following benefits:
- Consistently high-quality outcomes
- Security and confidentiality
- Reduced operational costs
Data entry is an important factor of many businesses, but it is not a primary focus. Investing time, money and resources into doing it in-house is expensive and inefficient, while outsourcing puts it in the hands of experts who can deliver quality results at competitive rates. The advantages of outsourcing far outweigh those of doing it in-house, particularly for SMEs, so you should really be considering it for your company.
Related Links
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How Does Your Business Benefit from Outsourcing Data Entry Services