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ALL ABOUT OUTSOURCING DATA ENTRY; THE HOWS, WHATS AND WHYS

When people think of outsourcing, they immediately think- call center services. And while call center service is indeed a process that is perhaps one of the most often outsourced, it is far from being the only one. Outsourcing also includes but is not limited to:

Appointment setting and live transfers

Accounting

Social media marketing

Content creation

Back office support

Campaign creation and management

Mobile app development

Web design and development

Search engine optimization

Software development

Editing and proofreading

Data entry happens to be one of these services as well.

But what exactly is data entry?

In simple words, data entry can be defined as the process of converting data or information from different paper documents (forms, reports, memos, receipts, manuals etc.) into any type of electronic format. Using word processing software hosted on computers, it can actually be performed online or offline.

Now, why is data entry important?

The answer is... because companies in almost every industry produce tons of data every single day.

From the simple task of purchasing hand sanitizers to tracking weekly performance- there’s no helping it. Paper work piles up. And while it’s tedious and repetitive, there’s no denying that detailed documenting is absolutely essential to keep track of the developments and changes in different parts of the company. For one thing, it allows owners to observe, and therefore control the movement of the company’s finances. For another, it also provides insights into the performance of specific individuals, teams, and the company in general. Paper documents were very useful for these purposes- but they also came with a number of setbacks. Paper documents weren’t exactly the easiest to maintain. They required lots of space, they required constant cleaning, and they were very difficult to keep track of and to retrieve when they are needed. Data entry was practically the miracle solution for these very problems.

The development of data entry played a key role in revolutionizing the way that companies maintain databases, directories, and other types of records and documents forever. With data entry, any type of information that has been converted properly can now be extracted in a matter of seconds and minutes. Storage has also ceased being as big of a problem as it used to, since computer and cloud storages are now accessible for much less the price that actual hardcopy storages would have cost.

Now, different businesses in different industries utilize data entry in differing ways. Some of the ways data entry is being used as is legal, PowerPoint and PDF, transcription, translation, and word and excel data entry. But there is, of course, a sort of general way of approaching data entry- and it is divided into five important stages:

 Mining

Some data might be already available, but that is not always the case. In many cases, data entry personnel need to go through large databases to collect mostly raw, unprocessed data.

 Inventory

Inventory is simple enough to understand from its title alone. It’s basically the process of taking account and making a list of every single data that has been collected.

Clean up

It’s the task of sorting through the collected documents and weeding out the unnecessary, duplicate and redundant data.

 Classification

Classification is the process that is responsible of sorting the documents into their proper categories.

 Processing

This stage transforms raw data into clumps of useful and easily understood information. In this part of the process, surveys, polls, statistics and others are turned into reports, theses, presentations etc.

 Conversion

Conversion is easily what could be considered as the most important part of the data entry stages. This is where hard copies or paper documents are transfigured into electronic documents that can be accessed via a number of electronic devices like computers, laptops, tablets and mobile phones.

 Dissemination and storage

The final part of the data entry process is no less vital than the others. In this stage, the processed and completely converted files are sent to the people who are supposed to have access to them. It is also in this stage that they are stored in secure electronic storages that also ensure the documents are easily accessible for immediate and future uses.

 The importance of outsourcing data entry

 EVERY BUSINESS IS BUILT ON DATA.

Data on prospective customers.

Data on expenditures.

Data on personnel performance.

Data on the product or service being offered.

Data about competitors.

In a way, every decision, every step forward and every change that must be done hinges very heavily on data. And then, there is also that old adage that everyone is sure to be familiar with: information is power.

Here’s the thing though- collecting and maintaining that information is difficult. It’s also tedious, repetitive, and mind-numbingly and wearyingly monotonous.

If you’re a small scale business, dealing with the sheer number of data produced by your company’s day to day affairs would most likely turn overwhelming very quickly. By outsourcing your data entry to a capable outsourcing provider, you are sure to reap the following benefits:

·         Minimize time spent on hiring and training additional personnel

·         Reduce costs on infrastructure, labor, acquiring new hardware and new technology, paying salaries, reimbursements, overtimes, allowances, incentives, and other odd expenses

·         Gives you access to better talent pools, since outsourcing providers generally have the ability to choose the appropriate candidate with the necessary skill set from a much wider selection of people.

·         Your in-house team would have to deal with lighter workloads, and would, instead, have more time and opportunities to focus on core competencies that would help your business grow and expand. The removal of dull and repetitive tasks like data entry also allows your employees to work on aspects of your business that would stretch their creative muscles, and perhaps lead to positive innovations

 Final words

Data entry is so important because it does what new systems and processes brought on by technological advance usually do- it makes life in general easier. Sure, it’s not perfect. Just as there are pros to data entry, there are also cons. And maybe, as technology continues to move forward, new ways to process and store data would be invented.

But for now, it is not only important, but also essential for businesses to make sure that data entry is integrated properly into their day-to-day operations. It might seem like a simple process. Like something that is easy to overlook or neglect.  But every single function in the company, big or small, is vital to its success. Not taking care of something as basic as data entry could be as detrimental to the overall well-being of the company as not taking proper care of sales and marketing.

Which is why it’s always important to remember to treat data entry as an important process, and to always give it due attention. Once done properly, it might even turn into an advantage that could propel a business ahead in a highly competitive industry.

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[juliesoutsourcingblog]

Ever feel like there’s not enough hours in a day to do everything?

Or that you’re spending too much time on inane, routine tasks that you don’t have any left for core processes?

Then you might just need a virtual assistant!

Click here to reach Big Outsource, a premium outsourcing services provider with an excellent track record when it comes to providing businesses the personalized service they need: https://www.bigoutsource.com/contact-us/

[juliesoutsourcingblog]

On The Rise; Outsourcing Trends for the Year 2020

The digital era has come out of its dawn and is steadily working its way towards its brightest peak, remodeling the world in a pace that humanity can barely keep up with. And as 2019 draws to a momentous close, the stage prepares to accommodate the incoming year and its attendant changes.

In anticipation of these events, here is a list of events and trends that would potentially influence and sculpt the landscape of the outsourcing industry in the year 2020.

 The Sino-American Trade War

The Sino-American Trade War, or better known as the Chinese-American Trade War, is the ongoing heated battle between two of the world’s largest and most powerful economies. It infamously originated from current United States President Donald Trump’s imposition of tariffs on imported Chinese goods, which of course led to China's retaliation by imposing its own tariffs on imported US products. After a long exchange of threats and even more tariffs and trade barriers, both camps appear to finally be reaching a less hostile common ground – although perfect amicability still seems off the table for now.

The United States is one of the biggest consumers of outsourced products and services. On the other hand, the People’s Republic of China according to Business Insider is the world’s top outsourcing country with an outsourcing market that grows by 30 percent each year. It’s not such a leap of faith to say that United States probably outsources a lot of its processes to China – but with the existing conflict between the two countries, it’s more than a distinct possibility that US based corporations are likely to look for other popular outsourcing destinations like the Philippines and India to avoid being hit as the economic battle rages on.

 Customer Service Outsourcing 

In this digital age, everyone who has an opinion to share have enumerable ways to express themselves. This is a double edged sword for businesses. As the White House Office of Consumer Affairs states, a single dissatisfied customer will likely tell 9-15 people about their disappointing experience – magnified by the power of the social media, this single dissatisfied customer might just prove detrimental to the company’s reputation and revenue.

Even now, brands like Ford Motor Company, Cisco, American Express, JP Morgan Chase and others utilize this power to their own advantage, and are relying on offshore BPO companies to handle their customer relations. With these names fanning the understandable hype of focusing on client satisfaction, we anticipate that there would be a definite rise in the number of businesses who outsource their customer service in the coming year.

 Social Media Management Outsourcing

As of 2019, the social media platform Facebook alone amassed a total of 2.45 billion of monthly active users. This equates to 31.4 percent of the world’s total population, which is estimated to be currently at 7.8 billion. As the number of people who have access to the internet and the many different social media platforms rise, businesses and corporations hasten to establish a formidable social media presence. Small and mid-size enterprises, however, often cannot afford to hire a full-time on-site employee for the sake of social media management alone. For these companies, outsourcing is an alternative that would allow them to reap the full benefits of being on social media without having to break the bank.

 Staff Acquisition and Recruitment Process Outsourcing

As outsourcing is predicted to overtake other industries in the very near future, more and more processes are also expected to be widely outsourced. Recruitment Process Outsourcing, or RPO, is no exception. RPO is simply the act of entrusting the hiring process of a company to a third party. The company usually provides their own candidate qualifications, requirements, and a highly specified screening process. For many businesses, but especially for startups and SMEs, outsourcing is a solution that allows them to nitpick their potential employees to their hearts’ content without having to spend too much on unnecessary expenses. This is why we expect to see RPO outsourcing to become more mainstream by next year.

 Healthcare Finance and Administrative Outsourcing

The Center for American Progress projects that by the end of 2019,  U.S. payers and providers would have spent almost $500 billion on healthcare-related billing and administrative costs alone. As inflation hits the economy, and as healthcare regulations turn more rigid, this amount is expected to hike up even further in the near future. To cut back on expenses, many healthcare organizations have turned to outsourcing in the past years. Even more are anticipated to join their ranks -- according to a survey by Healthcare Finance News, up to 98 percent of hospital leaders are deciding whether to offload their day-to-day non-core processes to third party outsourcing providers in the attempt to reduce operational costs.

 Due to a number of factors such as geopolitical conflicts, emerging economies, new innovations and rising technologies, the world is constantly on the cusp of change.

Tech giants are continually looking for ways to establish themselves as modern pioneers. Billion-dollar industries are perpetually devising strategies to gain more customers and increase revenues.

Amidst all this, we at Big Outsource believe that there is a middle ground that would allow even SMEs to succeed. We also believe that information is power – which is why we think it’s essential to look at the past months to be able to at least partly anticipate the changes that might occur in the future. Because ultimately, we believe that one of the most vital keys to success is realizing the power of making informed decisions.

[juliesoutsourcingblog]

Ever feel like there's not enough hours in the day to get things done? Or that you're spending too much time working on dull, repetitive day-to-day tasks that you have none left for core functions? Then you probably need a virtual assistant! Click here to find out more : https://www.bigoutsource.com/disciplines/virtual-assistance/

[juliesoutsourcingblog]

Just a few more hours and the working days are over! Still enough time to learn more about outsourcing ;)

To find out more, head on over to https://www.bigoutsource.com/getting-started/

[juliesoutsourcingblog]

Virtual Assistants: Everything You Should Know About Them

 For the uninitiated, what exactly is a Virtual Assistant?

Well, for the most part, a virtual assistant provides a professional administrative, technical and creative assistance to individual clients and businesses from an off-site location. The specifics of their tasks, however, may vary wildly depending on the agreement with the employer. They may include the following:

Appointment scheduling

Call handling

Email filtering and responding

Travel arrangement

Data entry

Social media management

Online research

Presentation and report creation

Website maintenance

Digital marketing

Search engine optimization

Lead generation

Content creation

Attendance tracking

Client acquisition

Event planning

Customer service

Graphic design

Transcription

Blogging

Bookkeeping

Accounting

Bills payment

Purchasing and procurement

 Brief History

The exact date of the beginning to virtual assistants is unknown, although it is generally considered that they began offering their services sometime in the ‘90s, naturally stemming from the existing secretarial sector and the sudden rise to the technology that allowed employer and employee to communicate seamlessly despite being in different locations.

The 24 Hour Secretary (Please hyperlink, Anchor text: The 24 Hour Secretary, URL: www.the24hoursecretary.com/virtual-assistant-industry/) mentions its history, and the pioneers who broke the ground and paved the way for today’s thriving virtual assistant industry.

1981 ABSSI

Association of Business Support Services, International was formed, the first organization that supported work-at-home moms, USA.

1985 HOME SECRETARIES

Led by Ms. Linda Anderson. An organization of home-based secretaries, serving many communities, USA.

1995 CHRISTINE DURST

Ms. Christine Durst, co-founder of StaffCentrix, along with Michael Haaren, take credit for founding the Virtual Assistance industry in 1995, USA.

1996 A CLAYTON'S SECRETARY

Ms. Kathie Thomas founded the first Virtual Assistant Industry network in Australia, AU.

1998 GLOBAL ASSOCIATION OF VIRTUAL ASSISTANTS

Ms. Amy Sarai and Ms. Julie Hewitt are identified as the founders, UK.

ASSIST U

Ms. Stacey Brice takes credit for starting the industry and opened the 1st VA industry training program, USA.

 The Importance of Virtual Assistants

For business people, time is a commodity that is in many ways more important than money -- it’s valuable, and once lost, it cannot be earned back.

Now, what happens when you spend it working on inane repetitive tasks that could be offloaded to another person, instead of working on improving and marketing your business?

The answer is simple, really: you end up wasting it.

Virtual assistants help set you free from the constricting shackles of mundane chores, and enable you to focus on core functions.

Especially for startups and SMEs who cannot afford to spend inordinate amounts of resources for the acquisition and maintenance of in-house personnel, hiring virtual assistants instead are very advantageous. Since most virtual assistants are contractors, their employers are not obligated to shell out additional dollars for their employee-related taxes, insurances, retirement plans, benefits and other indirect expenses that most fulltime onsite employees are entitled to -- unless, of course, there is a different compensation agreement in the contract.

 Outstanding Virtual Assistants and Where to Find Them

Having a virtual assistant around to take care of things for you is an excellent idea -- given that you hire a good one, that is.

It goes without saying that the quality of output you can expect from an employee of any kind in any position depends heavily on that employee’s skills and values. There are certain criterion that must be met, and certain skills that must be present in the candidate to be truly considered an excellent virtual assistant.

A virtual assistant must at the very least be able to consistently provide efficient back-office, administrative and clerical assistance to the client. Because of the unusually extensive range of the tasks that are often required, a virtual assistant must also have superior organizational and multitasking abilities. An excellent technological know-how is vital, since there are numerous software and devices that a virtual assistant must work with on a daily basis.

The following values should be observed to be present as well:

·         Flexibility and adaptability

·         Loyalty

·         Strong work ethic

·         Responsibility

·         Attentiveness

·         Creativity

·         Honesty and credibility

·         Initiative

Having said all these, one question still remains: where exactly can you find your ideal virtual assistant?

The virtual assistant industry is part of the digital economy. It’s internet-reliant, so to speak. This means that to find virtual assistants, you would need to rely a lot on web-based hiring platforms. Here are some of them:

 Upwork

Upwork, formerly Elance-oDesk, is a global freelancing platform where businesses and independent professionals connect and collaborate remotely. In 2015, Elance-oDesk was rebranded as Upwork. It is based in Santa Clara and San Francisco, California. The full name is Upwork Global Inc.

 Fiverr

Fiver is a global intermediary that allows people to buy and sell products and services for as low as five dollars, hence the name. It’s an online marketplace for freelancers, founded in 2010 and based in Tel Aviv, Israel

 OnlineJobs

OnlineJobs is the largest remote job boards and resume database in the Philippines. The site is geared toward Western business owners looking to hire dedicated full or part-time remote staff.

 VA Networking

Like the previous three, VA Networking is the middle ground where employer meets with prospective employee. The biggest difference is that VA Networking caters exclusively to freelance virtual assistants.

 LinkedIn

LinkedIn is an American business and employment oriented service that operates via websites and mobile apps. Founded on December 28, 2002, and launched on May 5, 2003, it is mainly used for professional networking, including employers posting jobs and job seekers posting their CVs.

 The last and perhaps the most reliable place to look for the perfect virtual assistant are BPO companies

BPO, or Business Process Outsourcing companies provide business-to-business outsourcing services that could range anywhere from customer service to software development.

One of the main disadvantages of hiring a freelance home-based virtual assistant is the sheer difficulty in terms of monitoring activity. There are very limited ways to ensure that the hired VA is actuality working on the allotted tasks during the shift.

BPO companies, on the other hand, are guaranteed to have an organizational structure. Virtual assistants working under the supervision of a team leader or a project manager are almost guaranteed to produce better and more consistent results.

 Final Words

The virtual assistant concept is generally a very good one.

The world will always have a need for secretarial services, and the VA industry, with its ability to work closely and efficiently with existing technologies like VOIPs, its relative cheapness and overall convenience answered this need more than well enough.

However, just like with every kind of off-site employee working in a remote location, there are risks that come with hiring virtual assistants.

The good news is that there are also ways to mitigate these risks.

With proper screening and evaluation, finding a good, reliable virtual assistant to significantly reduce your workload should not be impossible.

[juliesoutsourcingblog]

There must be thousands of outsourcing providers in the world right now.

Learn what makes Big Outsource stand out amidst the fierce competition by watching this highly informative video.