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It is a known fact that customer data is a significant aspect for any business, and that it helps to effectively enhance the customer engagement, also resulting in increased ROI.
The finance & accounting, operations, marketing, sales, etc. are all important for any business. But it is mainly the Data that you gather (in whatever form), which acts as the fuel for all these departments to run/perform smoothly that leads to a successful business. Moreover, it is the data that helps you to gain the required edge to lead over your competitors.
Hence, it is highly significant for businesses to enter correctly the relevant data in the required file format, so that they can be easily accessed, as well as to help make informed strategic decisions.
But with all that being known, it is surprising to see some business owners/ key people trivialize the Data Entry process involved in their business. It is not until they start running into data entry errors, that they realize their mistakes.
One simply cannot overstate the importance of Data quality. The right Data can make a business, but the wrong Data can break a business. Hence Data entry errors needs to be avoided at all costs.
Again, most people simply see data entry error as something that happens only if data is entered incorrectly. But this is not the only case or cause for an error. The fact is that there are many reasons for data entry errors. For example, Formatting and categorization can also lead to a loss of data integrity.
Some of the Common Data Entry Errors:
Input Errors
Improper Formatting
Human Error
Transcription and Transposition Errors
Data Misinterpretation
Basics for when dealing with large volumes of data
1. Document digitization: If data is to be easily found or accessed, it is better that the hard copies or handwritten documents be converted into digital or electronic formats, which can also be easily edited. It is a time-consuming job, but a team of professionals can perform it efficiently and effectively.
2. Manually data entry: In data entry, there’s no substitute for manual entry. Manually entering the valid and relevant data into the required database, spread sheet or file format accurately as required can only be done by a team of skilled professionals. The data collected could be the name, address, contact details or complex data such as financial information etc.
3. Quality assurance team: It is highly commendable to have QA (Quality Assurance) teams, who will do proper check to ensure if any of the information/data is incomplete, missing and devoid of errors. It will also help businesses to keep information updated with latest details.
If your firm does not have these pre requisites in place, then it is wise to avail data entry services from professionals who has the means and expertise in the area, to execute these steps.
Common Challenges regarding in-house data entry
Few of the challenges listed below are the reasons why many global organizations outsource data entry services to expert third party professionals.
1. Diminishing Turnaround Times
Depending on the complexity and variability of data entry projects, the in-house processing done by organizations becomes less feasible, as they seldom have employees with any prior experience or training in data entry. Plus, these companies may not have the right tools or software to carry out the same. As a result, they produce outcomes with substantial processing delays which usually results in failure to meet deadlines.
Not to mention, an in-house data entry usually requires their employees to perform these tasks apart from their normal work responsibilities, thereby taking longer than a specialized data entry operator. Since data loses value over time, it’s essential to have faster turnaround times.
2. High Error Rates
As previously mentioned, if in-house personnel lack the expertise to perform data entry services, all processed results will be inaccurate with high error rates containing redundancies. Professional data entry experts have the experience and tools to perform efficient data entry and are trained in multi-tier scrutiny procedures that produce zero-error rates.
3. Core Business Operations getting affected
One of the biggest reasons to outsource data entry is to free up in-house teams in order to focus on the growth of the business. Entrepreneurs who try to do everything in-house tend to miss out on opportunities due to their lack of focus. Performing data entry assignments in-house means the organization’s employees will not have time to focus on core operations. As a result, the company fails to meet their business objectives as planned. This affects the organization’s mission and vision, goodwill, customer experience and satisfaction levels.
4. Scalability issues
Sometimes organizations are faced with sudden surges in the task levels which cannot be dealt in-house due to lack of scalability options. Such unexpected spikes will put enormous stress on the in-house employees and ultimately on the organization. Whereas a professional outsourcing company from the data entry industry can provide enhanced levels of scalability any time.
5. Poor Data Quality
There is nothing worse than having incorrect data put into a system. Even a small mistake could lead to loss of profit, higher risks, and missed opportunities. In-house data entry done by organizations mostly will not have the right quality control or quality check procedures. So, the results generated will have mediocre or poor-quality standards. This increases the costs as rework has to be done by them. Offshore BPO companies provide data entry outsourcing services that produce high-quality outcomes with quick and optimal turnaround times, and have systems in place to ensure that all data is reliable.
Why hire specialists/experts for data entry services?
Most of the challenges faced by business organizations in the case of in-house data entry tasks, can have serious consequences and can harm their business prospects, if not handled right.
Customer data is a significant aspect for most businesses, as it helps to effectively enhance the customer engagement, also resulting in increased ROI. Hence to obtain faster flow of information via maintaining accurate and up to date customer data, and free from all errors, it is best to depend on professional services who can ensure 99% accuracy in the data, that helps to not only engage with the leads, but to also get in-depth insights into the trends and ever developing customer relationships.
One can outsource to other firms or offshore companies specializing in Data Entry Process, who can get their projects completed within the stipulated time-frame, saving them valuable time and money.
For any support or queries regarding Update's Data Entry Services, feel free to contact us. You can also get a quote.
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