Business,Transcription,Outsour business, insurance Business Transcription Outsourcing Explained Part I

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The basics of businesstranscription outsourcing aren’t much being discussed today, but it seemsthat with the continuous rise of business startups, entrepreneurs wouldprobably need to run through this valuable concept again. To simplify it firsthand, a transcription service basicallymeans converting a live or recorded speech to text which is read on paper, eitherwritten or electronically. There are lots of types of transcription servicesand those include legal, medical, tourism and travel, manufacturing andcertainly, general business. Business transcription, then, meanstransliterating any means of communication or recordings done under anybusiness activity that don’t have hard copies or duplicates yet. The concept ofoutsourcing has created an immense impact on business transcription because ithas become in parallel with the rise of BPO companies offering such services.In line with this, new and innovative companies have also emerged and seen theadvantages they can get by outsourcing to companies offering businesstranscription services. This is when the concept of businesstranscription outsourcing has begun. Whendoes business transcription outsourcing take place?Generally, business transcription is looked-forwhenever there’s an important occurrence that a company needs or wants toconvert into hard copies or documentation. It simply means that businesstranscription outsourcing can actually take place in almost any type of business.It is merely because verbal communicationcannot be absent in business. On the other hand, it is also possible for companiesthat focus mostly on typing, research or business conversations (e.g. contactcenters) to require duplicates for future references as well. Those companies dealwith a lot of data and can also take advantage of business transcription services.Business activities that are commonly transcribed are the following:    Conferences and SeminarsTeleconferencesMeetingsSpeechesLecturesLecture Videos and WebinarsFocus GroupsGroup DiscussionsWorkshops and TrainingsInterviews and DictationsTelephone CallsSymposiumsMarket Research SurveysAudio Visual ContentLanguage TranslationsCourt Hearings and Other Legal Measures Whooutsource business transcription?As discussed above, business transcriptionoutsourcing can be done by companies that deal with a huge amount of data,specifically, verbal data, every day. Various industries can be involved suchas those in IT, Legal, Medical, Manufacturing, Travel and Tourism, Finance,Professional Services and more. Some CEOs of huge companies also becomedecisive of outsourcing the business transcription of their daily activitiessince they deal with a lot of it every day and cannot simply remembereverything all at once. Whydo they outsource?The reasons why such companies consider businesstranscription outsourcing are itemized and discussedbelow:Reductionof Costs: Instead of companies incurring costs in hiringand training new staff for just transcribing the indefinite number of businessactivities and communications, they can just let their outsourcing partner dothat and save a lot.Availabilityof Outsourcing Companies vs. Your Secretary: If a companydoesn’t want to hire or train new staff, then it’s possible that they will justlet the secretary do the transcription. However, secretaries do a lot of thingsevery day. It’s unclear whether yours will be available on a specific time thatyou’ll need her to do business transcription. Unlike with an outsourcingpartner, it will always be available to cater your needs. They guarantee easyrecovery or access of data that you will need as well.FreeTime to Focus on Your Business’ Core Activities: Lettingyour outsourcing partner do the business transcription will give you more timeto focus on creating strategies for your business’ success and growth. Whilstreducing expenses, companies get to increase profitability as well.MoreProfessional Formats: Outsourcing companies can providetheir clients a more professional format for the transcription results orreports. Companies who will outsource do not have to worry how the outputs willlook like. While there are companies that discuss their output preferences totheir outsourcing partners, the latter will see to it that they’ll certainlyfollow all of it. This also eases the flow of work on both parties.There can be additionalbenefits aside from the ones mentioned above. Theseadvantages can actually depend upon the type of company that will outsource itsoperations and preferences. Nonetheless, there are also other factors that acompany would need to consider whenever they decide to outsource their businesstranscription. Those include the rates, technology and other resources,security, turnaround time and accuracy. The search for the right outsourcing partner could, and should, alsodepend on these.