Dana C. Stewart

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The Risks and Benefits of Outsourcing Product Data Entry

Outsourcing has been touted as one of the most beneficial solutions for businesses seeking to ensure they have access to a qualified pool of skilled professionals, but at the same time avoiding the pitfalls and problems that stem from in-house hiring. The truth is that outsourcing product data entry can be a highly advantageous decision, but it’s not without its risks. What are the pros and cons of the situation? What risks do you run, and do the benefits outweigh those risks? Here’s a closer look.

The Risks

We’ll begin by looking at the risks inherent with product data entry and eCommerce product data entry. While there are fewer risks, these factors should be known and understood before going into the situation.

Loss of Control:“ One potential risk is a loss of control over your product data entry project. You can mitigate this risk by hiring virtual employees that work for your company but aren’t employed by your company.

Communication Pitfalls: “ Many outsourcing companies are located overseas in China, India or the Philippines. Often, there’s a language barrier that must be overcome if the relationship is to be successful. You can offset that risk by ensuring the company you work with has professional English speakers to handle your relationship.

Security of Data:“ Your product data entry project should be completely secure, but what safeguards does the outsourcing company have in place? This can be mitigated by thoroughly vetting any company you consider the legal data entry services or not.

The Benefits.

Now, let’s get to the benefits of outsourcing your product data entry. You’ll find there are far more benefits than drawbacks here as well.

Better Focus on Core Competencies:“ Product data entry is important, but the process isn’t part of your core competencies. By working with a quality outsource data entry provider, you ensure that you’re able to focus on your core competencies while the data entry project continues.

Lower Costs:“ One of the most touted and most important benefits of outsourcing is the ability to reduce your operational costs. You save not only on the benefits and salary that would have been spent on in-house employees but also on management and in many other ways.

Greater Accuracy:“ Accuracy is vital in data entry. The quality of the data input is paramount. Ensuring the highest accuracy is difficult with in-house employees. There are simply too many points of the breakdown in the system. With an outsourced solution, you improve your accuracy to a considerable extent.

Greater Flexibility:“ Today’s businesses must be agile and flexible enough to handle the vagaries of the economy and market trends. By working with an outsourcing data entry provider, you gain greater flexibility in myriad ways.

As you can see, the benefits of outsourcing your project data entry needs outweigh the risks. In addition, all risks can be mitigated or completely removed through research and partnering with the right company. By outsourcing your project, you’re able to focus on your core competencies, grow your business and ensure that you have skilled professionals where you need them.

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7 Benefits of Data Entry Outsourcing

Today, data is one of the most significant assets an organization can possess. Digitizing data either through document process automation or manual data entry provides easy access to information while enhancing operational efficiencies. While most business firms across the globe acknowledge the significance of data in supporting their business operations, they do not have access to the necessary manpower for building and maintaining an information bank.

In order for business-critical data to be captured and entered in a business application from a variety of different sources, qualified and experienced data entry operators are required who can accomplish the task efficiently. This is why, companies prefer to associate with data entry outsourcing providers who can enter and gather the data from diverse sources such as scanned invoices, product catalogs, scanned records, online research, images, charts, etc.

Ability to Focus on Core Competencies Business operations often comprise of core and non-core processes. Using an in-house team for accomplishing the non-core processes can result in adding tremendous operational costs such as hiring executives with exceptional typing skills, retaining employees, and ensuring proper monitoring of tasks for accuracy. But, if the data entry tasks are outsourced, all these activities are performed by the service provider. This, in turn, allows the business organization to reduce hassles, while using their free time to focus on core business activities.

Access to Advanced Technology Most BPO and KPO companies offering data entry outsourcing services use advanced technology systems and state-of-the-art infrastructure to deliver high-quality services in short turnaround time. By outsourcing your data entry operations you can not only save on the extra costs involved in setting up and maintaining the latest infrastructure but also ensure efficient results every single time.

Lower Operational Costs Outsourcing is known to deliver cost benefits for global organizations, and data entry outsourcing is no exception. When you outsource your data entry tasks, you gain the ability to get the work done at considerably lower costs and within scheduled timelines. Lowest cost of data entry rate per entry in India.

Smart Partnerships Most experienced outsourcing firms offer customized services and have the flexibility to scale them appropriately as per their client requirements. By associating with a reputed and established data entry outsourcing firm, you gain the ability to maintain a sustainable relationship that can grow with time. This gives you access to reliable data entry services while partnering with a firm whom you trust.

Access to Better Talent An outsourcing company specializing in data entry services hires the best talent in the industry which you may not be able to attract because your core operation is not data entry. Thus, you get access to the best talent in the industry with the help of data entry outsourcing.

Improved Productivity Delivery of data entry tasks within scheduled timelines – without investing in high-end infrastructure or human resources while maintaining lower costs – all contribute to achieving improved operational productivity for an organization. This boost in productivity further ensures a focused, more efficient workforce.

Competitive Advantage In order to stay ahead of the competition, businesses are required to make strategic decisions and ensure sustainability in their day-to-day operations. By outsourcing, an organization receives immediate access to an array of business benefits which include faster performance, improved productivity, and lower costs, which in turn help a business to achieve competitive advantage against their compatriots.

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If life were predictable, it would cease to be life, and be without flavor.

Eleanor Roosevelt