The demand for data capture services is on the rise as more and more organizations strive to eliminate paper documents and digitize content. Digitized content translates into easier access, more effective data preservation and better security for sensitive information. The captured data can also be easily leveraged for analysis.
There is no shortage of benefits when it comes to capturing data and converting paper content into digital form. But the data capture process can be slow and arduous. What’s more, not every organization has the resources required to effectively capture and process the data. For many companies, outsourcing data capture projects is the best option for achieving an accurate, clean data set.
Why Do I Need to Outsource Data Capture Projects?
You could hand your receptionist a pile of papers, instructing her to perform some data entry work in her spare time. But the resulting data set is apt to be poor quality with flaws and omissions that render the data virtually useless. In fact, there is a saying that there is one thing worse than no data and that is a flawed data set — especially if you are unaware that those flaws exist.
Outsourcing a data entry project will maximize your chances of achieving an accurate, clean data set that you can trust. This will allow you to use that data with confidence, whether you’re leveraging it to make data-driven business decisions or building a budget and forecasting next year’s sales volume.Still not convinced? Let’s take a look at five reasons to outsource data capture projects
Reason #1: Outsource Data Entry So You Can Focus on Your Core Business
Smart and strategic delegation is the key to success in today’s fast-paced and competitive business world. It’s easy to get swept up with a desire to do it all yourself.
It may be tempting to keep a pile of documents on your desktop, copying and pasting the information into your database while you’re in between clients and phone calls. But it’s unlikely you will achieve a clean, accurate data set with this strategy. Plus, it’s slow. And It’s probably not the best use of your time.
By outsourcing data entry tasks, you can be confident in the quality and integrity of your data set, without diverting time away from whatever it is that you do best in your company.
Reason #2: Access to Expensive Technology Like Machine Learning
Machine learning-powered OCR scanning software platforms are among the best technology you’ll find for data capture. Machine learning (ML) can detect errors and recommend corrections with improved accuracy over time. But this tech is expensive and the cost is extremely difficult to justify for companies with occasional data capture needs. Software updates and maintenance can be time-consuming too, with the risk the software will become obsolete as time passes. This means the cost of ownership is not insignificant.
Many data capture contractors maintain software with the latest technology such as OCR with machine learning (ML) capabilities. This gives you access to innovative technologies that will enhance the quality of your data set, while also speeding processing time and reducing costs.
Reason #3: Improved Data Capture Turnaround TImes
Handling a data capture project in-house can be time consuming. It’s not uncommon to see an individual who is inexperienced in data entry tackling the project. You’re apt to see a slow pace, especially when compared to the speed that can be achieved when software is used in conjunction with human resources — an approach that’s common amongst data capture service providers.
When you outsource data capture projects, a dedicated team handles the process, allowing for a faster turnaround time and a more accurate data set.
An experienced data entry outsourcing partner will have experienced staff with access to the best data capture software technology. This translates into a trustworthy data set, generated at a pace that exceeds what you would achieve in-house.
Reason #4: Outsource Data Capture for Cost Savings
Companies that outsource data entry can expect a faster process compared to what they would see if the project was handled in-house. Greater speed translates into better cost effectiveness.
Many data capture outsourcing service providers use software to speed turnaround time, combined with experienced data entry specialists who can achieve high quality at a fast pace. That spells wins across the board for accuracy, speed and cost.
If you opt to handle a data entry project in-house, the turnaround is likely to be slower, with more errors in the data set. You may also be pulling staff away from other projects. Ultimately, you’re left with a minimally useful — or plain useless — data set that you paid employees to create. That’s not a great use of money or resources. Outsourcing data capture is more likely to bring good results in terms of cost, speed and quality. That leads to our next point: quality.
Reason #5: Outsource Data Capture for Better Quality
Quality is critical in the world of data entry. A data set is going to be useless if you cannot trust its accuracy. You can’t use that data to inform business decisions. Nor can you use that data set to strategize or to drive home points in a presentation. Including that data in your annual report could lead to inaccurate projections for the coming year; that could have very negative effects down the road.
The bottom line is clear: your data needs to be accurate and trustworthy; free of errors or omissions. Quality matters. Achieving high quality is difficult, especially if you lack the right data capture tools and experience. Outsourcing data capture to a service provider who specializes in this area increases your chances of walking away with a clean, accurate set of data.
Data is one of the most valuable assets an organization possesses. It’s often overlooked, but data is at the core of a business. Every process, business decision, sales forecast — it’s all driven by data. At iTech, we understand the important role that data plays in your business and its operations. Contact the iTech team today to discuss what our data services can do for your bottom line.