Between 2000 and 2018, the global market for outsourced services nearly doubled, with spending in 2018 amounting to more than $85 billion, according to Statista.
There are plenty of reasons for this growing trend. Increased globalisation has led to a global workforce. At the same time, tech-based services, including data entry, can be easily transferred to service providers located anywhere in the world. Meanwhile, the talent and technology needed to provide this service is more abundant than ever before.
On the business side, companies are discovering that outsourcing brings many different benefits affecting daily operations, quality assurance, and the organisation’s bottom line. If you’re considering offshore data entry as a way to become a more efficient organisation, here are five key business benefits to keep in mind.
- Reduced Data Entry Expenses
As Corporate Finance Institute points out, one of the greatest benefits of outsourcing work is the ability to pay a more affordable rate for this work. In the case of offshore data entry, businesses can place tedious, time-consuming work in the hands of agencies that specialise in this service.
By moving data entry offshore, businesses can also reduce the cost of data entry compared to what they’d spend for in-house professionals to do the same work. Since businesses contract these services out instead of acquiring them through internal hires, the cost is often scalable to your company’s needs. This ensures efficient spending on top of expense reduction.
- Better Use of In-House Talent
Many organisations employ talented workers who shouldn’t waste their talents on tasks such as data entry. By outsourcing this work to an offshore provider, businesses can better utilise their current in-house staff.
According to The Balance SMB, outsourcing data entry frees up your internal staff to focus on the company’s core activities, including tasks and projects that require their specific skills and specialities. This can be a particularly effective strategy during periods of rapid growth for an organisation.
- Exceptional Quality of Service
Data entry may not be the most complex and challenging job in the business world, but quality still matters. Errors in data entry can be very damaging to a business, resulting in less-efficient operations, reduced performance, and weakened customer experience. As tedious as it may be, accurate data entry is critical to business performance.
This is why, as ADP points out, it’s wise to outsource data entry to offshore organisations that specialise in this service. An offshore team of specialists will likely do a better job of data entry than your own employees, even while lowering your overall expenses. Many offshore organisations have strong reputations for providing quality data entry services, and would be strong candidates to work with any domestic organisation.
- Comprehensive Data Protection
Moving data outside of the organisation brings security threats if you aren’t careful. Businesses must protect their data and sensitive information at all times, and they can achieve this by transferring data through one of several different secure transfer solutions.
As TechRadar reports, businesses can utilise encrypted cloud sharing, FTP servers, two-factor authorisation, and/or public key cryptography to secure data as it’s transferred to and from the offshore service provider.
Before choosing an offshore company to work with, ask prospective agencies about their preferred methods of data transfer. You should also find out what kind of policies and procedures they use to protect business data. Your company should also have the service provider sign a confidentiality agreement.
- Project Delivery That Can Meet Any Deadline
When you operate with fixed in-house personnel, you’re limited in the volume of work you can handle. Large data entry projects can lead to workflow bottlenecks and an inability to meet fast deadlines. By outsourcing this work, you can leverage a larger body of professionals than what your organisation is able to commit, making it possible to fast-track projects and accelerate growth.
If data entry isn’t one of your company’s core activities, there’s no sense burning up your in-house personnel to handle this work. Taskeater provides offshore data entry and cuts costs while making better use of your company’s resources.