Inputting data for the purpose of creating database is a repetitive and boring task. Despite its monotonous nature, this task is very important and needs to be performed with due diligence. Especially in this day and age, where data plays a pivotal role in nearly every aspect of a business venture, data entry has become almost business-critical.
Threat of Incorrect Data Entry
Many business owners disregard the importance of data entry thinking of it as an easy task that anyone can do well. This approach is highly dangerous, especially in today’s business environment. When the data entry solutions are not up to the desired standards, it leads to unpredictable errors that may be hard to find once the database is created.
An error-prone data entry process can become the cause of great grievances for an organization. For example, if an error-ridden database is presented to a regulatory body and discrepancies are discovered between expected and actual values, it can lead to fines and in some cases image-tarnishing lawsuits. Mostly, this is the point at which most business owners realize the importance of data entry but by then it is too late.
The Biggest Benefit of Efficient and Accurate Data Entry Process
Efficient and accurate data entry not only helps you eliminate the threat of regulatory actions, it also promises great returns in the form of business-critical insights. This is done through the power of analytics, which can be applied to datasets. However, to yield the best results, you need to have pertinent data at your disposal that can be trusted to derive meaningful inferences. Once you have relevant information about your customer behavior and competitors, you can use it in your marketing campaign to form effective business strategies.
In-House Data Entry vs. Outsourcing to Data Entry Service Providers
In the modern times, outsourcing has become a common business phenomenon. It promises great returns on investment when done correctly and has the potential to change your business operations for good. However, there are still many entrepreneurs out there who do not consider outsourcing a worthwhile option, especially for a process like data entry. Below is a comparison of both these approaches:
- Capital Expenditure – In-house data entry operation requires a lot of capital expenditure. You need to spend a considerable amount of money on buying real-estate to accommodate data entry agents. Also, you need to buy relevant software solutions to make data entry process more efficient and accurate. But, when you outsource to a data entry services provider there is no capital expenses at all, as your data entry partner already has a readymade operation with the desired workforce and all the relevant software solutions.
- Operational Expenditure – For in-house data entry, you would have to pay fixed salaries of your employees regardless of the amount of work they are doing. You would also need to spend on upgrades and renewal of data entry software solutions. The cost of electricity and other basic amenities need to be accounted for as well. On the other hand, outsourced eCommerce Products data entry service providers need to be paid contractual money at a pre-determined time interval. You can decide on the payment process, whether you want to pay hourly or monthly or according to the amount of work done. Apart from that, you may have to spend money on travel if you want to visit the outsourcing vendor in person. However, if you partner with a competent data entry services provider like backofficecenters in India, you may never feel the need to visit them.
- Expertise – For an in-house operation, it is hard to hire agents who are sensitive to the importance of a data entry operation. You have to train them for a number of months/years, before you can expect good results. In contrast, when you employ the services of data entry service providers, you get access to battle-hardened talent that has been through the rigors of data entry operations for many years. When you outsource to a competent vendor like backofficecenters, you can trust their services completely. Good companies have experienced managers who have played a part in the success of many data entry outsourcing endeavors. They are masters of many proven strategies that your in-house operation may never know about.
- Focus – Managing an additional in-house operation can diminish your focus on your core competencies. Especially when a process as elaborate as data entry needs to be managed, you are sure to lose some focus, which may hurt your overall business prospects. On the other hand, outsourcing does not come with any such disadvantage. When you hire a competent vendor, your process is managed without your direct involvement. In case, you still want to have some measure of control on the outsourced operation, you can always appoint a liaison manager who will sit in the office of the outsourcing vendor and serve as your eyes and year.
- Security of data – Security is one area where in-house operations are slightly better than services rendered by average data entry service providers. However, when you outsource to an accomplished vendor like backofficecenters, your business-critical data is protected with cutting-edge security methods, which are not easily accessible to every in-house data entry operation.
At backofficecenters, we use only the latest data entry tools to maximize work efficiency. Apart from data entry service, we also provide call center outsourcing services for both inbound and outbound process.