Major Benefits of Offshore Data Entry Outsourcing

Offshore data entry outsourcing has become a trusted method among businesses to increase productivity and cut down operational overheads. The best part is that outsourcing will relieve the in-house team of the task of handling non-core activities like data entry. Which in turn will allow them to focus more on the revenue generating business activities and developmental strategies.

major benefits of offshore data entry outsourcing

Benefits of Offshore Data Entry Outsourcing

Cost saving

Outsourcing will help business to cut down their operational costs by as much as 60% or more without compromising on the quality or speed. You can choose the best outsourcing services at a cost-effective price to save time, effort and operational expenses.

Well Trained Staff

By outsourcing, you will get the services of a well-trained team with expertise in data entry. And exposure to the latest software tools and technology that will further enhance the quality of the output.

Superior Quality

By outsourcing data entry work, you can reduce errors and ensure superior quality results. As you have a dedicated team at your service that will make sure that the task is completed within the turn around time.

Faster Delivery of Outputs

Often data entry tasks are time sensitive and critical in nature especially in niches like insurance, banking, hospitals etc. By outsourcing the time-consuming task of data entry to the experts you get the dual advantage of superior quality output at the shortest turn-around time. Reputed outsourcing partners will have data entry operators with a high typing speed that will enable them to key in tons of data in the stipulated time without making a climb-down on accuracy and quality.

High-Tech Infrastructure

Outsourcing will help business to get the advantage of the latest software tools and technology without having to procure it or train their team to operate it. By getting access to the latest technology you can stand ahead in the competition and stay on trend.

Data Security

While outsourcing your data entry work to a well-known outsourcing company. You rest assured that the data security and confidentiality of the data will be well-informed. The outsourcing companies use secured FTP servers for the transfer of files and have confidentiality agreements in place.

Tailor-Made Solutions

Outsourcing partners will offer you bespoke data entry solutions to match your specific needs. A highly accurate and up to date database is the biggest asset for any organization. As it will help them to make well-informed decisions and keep a tab on the market conditions and customer behavior patterns and shopping trends.

Flexibility of Staffing

Outsourcing companies have flexible methods of staffing to ensure timely completion of projects before the deadline. So, you need not bother about hiring more people when there is work overload and face the dilemma of keeping them on rolls even when there is not enough work.

Bulk Volume Data Processing

By outsourcing, you can easily process even bulk volume of data entry tasks without the pain of putting in more man-hours or time on it.

Focus on Core Business Operations

While the outsourcing team takes care of your data entry operations, your well trained in-house team can stay focused on the core business operations thereby ensuring more value for your money.

Customer Support Services

By offshore data entry outsourcing, you get customer care services round the clock to handle any business related problems or queries of your customers. This will go a long way in enhancing your brand image and reliability in the eyes of your audience. Outsourcing your noncore operations like data entry is the best way to take your business operations to the next level. And to ensure more productivity at low investment.

If you are looking for a reputed offshore data entry outsourcing partner to handle your data entry operations, look no further than Data Entry India Outsource, which has a brilliant track record in this field and expertise to handle all types of data entry operations. Get in touch with us for a free quote or more information right away!

Also, Read Related Articles

Sl.No              Article

1.                       How Your Competitors Outsource Data Entry Services?

2.                      Tips To Choose The Top Data Entry Outsourcing Company

3.                      5 Best Practices of Effective Data Quality Management

For Information On How Data Entry India Outsource Will Deliver Value To Your Business Through Data Entry Outsourcing Services, Please Contact Our Team On IND +91-97-4710-9911; Or Write To Us At info@dataentryindiaoutsource.com.

Time Saving Data Entry Tips and Tricks

Data entry is a time-consuming task that needs an eye for details and excellent typing speed. Keying in the data and getting it organized in the specified format can be a challenging task at times, especially when the data volume is huge. This is where data entry operators adopt some tried and tested tips and tricks that will help them save time. It is all about approaching the data entry task in a smart way that requires less effort without having to compromise the quality.

time saving data entry tips and tricks

Data Entry Tips and Tricks for Faster Data Entry Accuracy

Here are some tricks that will help you save time while carrying out data entry jobs. MS Excel is a fabulous tool for organizing data.

Customize the Movement of the Cell Cursor:

Often the cursor position can be distracting for the data entry operators because every time they press the enter key the cursor will go to the cell down the last one while they may need to enter in the next column rather than a row.

Click on the ‘File’ menu.

Choose ‘File Options’ from the ‘File’ menu.

Select ‘Advanced’ from the left-side list. Under the Editing Option, ‘you can click on move selection’. Select ‘Down’ from its drop-down list. Now the users can move the cursor as per their needs.

Data table will make the storage of data easy:

Make use of ‘Data Table’ for storing data as it will enhance the speed and accuracy. It will also enable the data entry operators to have a quick glance of the elements once they are done.

Select the data in the spreadsheet:

Click on the ‘Table’ option in the standard toolbar. You can format the table by adding filters and sort options or can add more than one table in a sheet. The users can assign values in the formula bar and it will perform the same function as in the case of cell references.

Formatting and exporting data is possible at single click in table tools.

Lists and Numbers:

When inputting a number in a cell rather than a date, select the cell and drag downwards to copy the number and not create a linear series so the range is filled with the same number. If you type one number and the next in the series below that and select both numbers before filling and it will create a series of numbers with the same interval between them.

You can create a linear series from a single number by clicking the right mouse button to drag on the fill handle and select ‘Fill Series’

Creating a Series:

Type the starting value in a cell, select the cell and choose Home tab Fill > Series. From the Series In area, select to fill into Rows or Columns. For the Type, select Linear, Growth, Date or Auto Fill. Set the Step Value, the value between sequential numbers and specify the stop value in the Stop Value box. When you press Ok, Excel will enter as many values to complete the series according to the parameters given.

Make your own Drop-Down List:

Maintaining a drop down list will make a smart way to ensure data consistency. Create a range by entering items that you want to pick in drop down list, select the cell where you want drop-down list.

Go to the ‘Data’ option in the standard tool bar. Select ‘Data Tools’ option and then, ‘Data Validation’. Change the setting and create the list by clicking ‘Allow’. You can mention the range on the source box

Use Shortcut Keys:

Using short cut keys will speed up the task of data entry

Tab key: To move the cursor to the next cell.

Shift+Tab key: To return to the previous input cell.

Ctrl+A: To select the entire page.

Ctrl+C: To copy the selected data.

Ctrl+V: To paste the copied data.

Ctrl+Z: Undo the last action.

Ctrl+Shift+Z: To reverse the last undo action.

Alt+Tab can be time-effective switch between all opened windows.

Data entry short cuts are effective in making the data entry jobs fast and more accurate and our well-experienced data entry outsourcing service providers use most of these tips to ensure timely completion of data entry tasks.

Also, Read Related Articles

Sl.No           Article

1.                    7 Ways To Improve The Data Entry Process

2.                   10 Tips to Help You Improve the Data Entry Accuracy

3.                   5 Best Practices of Effective Data Quality Management

For Information On How Data Entry India Outsource Will Deliver Value To Your Business Through Data Entry Outsourcing Services, Please Contact Our Team On IND +91-97-4710-9911; Or Write To Us At info@dataentryindiaoutsource.com.

Top 10 Benefits of Electronic Data Processing (EDP)

The sweeping changes in technology have revolutionized the functioning of offices over the last few decades. Offices have switched to paperless technology and digital data processing that has brought in a marked shift in quality, accuracy, and timeliness of tasks. Businesses generate tons of data during its daily operations and Electronic Data Processing will make it easy to gather and process any kind of information and data sets including invoices, images, archives and more.

Top 10 Benefits of Electronic Data Processing (EDP)

Electronic Data Processing (EDP) involves databases, typically stored on a shared server that offers simultaneous access to all parties. Information stored and managed through EDP can be retrieved almost instantly thereby saving a lot of time and effort of the users. Reports show that in conventional offices, substantial productive hours are lost while searching for misplaced files and documents. EDP solves this problem completely. The best part is that EDP makes a high value for your money investment as once it is set up, it will continue to manage data for a long time without any repeat investment.

Top 10 benefits of Electronic Data Processing

1. Reliable back up

Lack of proper backup mechanism will make it difficult to retrieve data if the content is lost due to some reason. EDP will ensure a reliable back-up system once your data has been digitized, which can store off-site to ensure safety during natural disasters, theft or proliferation of data.

2. Enhanced data Security & Control

It is essential to ensure adequate data security and control over people who authorize to access the information. A traditional filing system may not be sufficient at times. During EDP, your data can move to the cloud that will allow you to set permissions to each document. And it clearly identify the time of retrieval and the person who retrieved it.

3. Better coordination and workflow

EDP will help you to create and execute workflows of your information thereby enhancing internal and external collaboration. Thus the employees will know the status of a file in the approval process at any given time.

4. Improved Timeliness

EDP makes it possible for your staff to work from the office and remote locations and to gain instant access to information they require. Digital files are easy to access than traditional paper files and can be shared among different users easily.

5. With EDP no Emails

Electronic data processing systems remove the need to view content via email, removes the security and overdue storage with improving control over regulated content.

6. Lower Archiving Costs

While archiving of paper documents take time and effort, EDP ensures easy processing, storing and retrieving of archived records.

7. Increased Efficiency & File Management

EDP will relieve your employees the task of rummaging through tons of files to find a particular piece of data, which may take up many productive hours. Digital data offers the convenience of data at your fingertips as you find any document, read it on screen or get it print. As documents don’t get misplaced or lost there is no need to re-file as well.

8. Easy access

Finding information easily from the indexed content will ensure improved decision making and reduce the amount of time lost looking for information. Data management software like Optical Character Recognition will enable you to convert different types of documents, such as scanned paper documents, PDF files and more editable and searchable data that is easy to store and organize.

9. Consistency in Content

EDP will make sure that the content is consistently formatted, named and controlled. The digital workflows allow you to design how you want your documents filed, which will ensure consistency in content.

10. Enhanced Task Management

Digitizing the information makes it easy to assign tasks to the users across the organization and track their progress and subscribe to email notifications on their status.

If you are planning to implement electronic data processing in your organization. Talk to our friendly team at Data Entry India Outsource to know about its scope and possibilities. We have state of the art technology and a well-balanced team that will offer custom EDP solutions to cater to your needs.

Also, Read Related Articles

Sl.No           Article

1.                   7 Ways To Improve The Data Entry Process

2.                  Which Back Office Data Processing Tasks Can Be Outsourced

3.                  5 Best Practices of Effective Data Quality Management

For Information On How Data Entry India Outsource Will Deliver Value To Your Business Through Data Processing Outsourcing Services, Please Contact Our Team On IND +91-97-4710-9911; Or Write To Us At info@dataentryindiaoutsource.com.

7 Ways To Improve The Data Entry Process

Businesses generate a lot of data during their everyday operations. This data has to sort and organized in an easily accessible digital format so that it can be processed and stored for future use. As businesses grow, the requirement for data processing increases exponentially. And it becomes a challenging task to ensure the quality of the data entry process.

7 ways to improve the data entry process

Here are the 7 ways to improve the data entry process

1. Trim down Data Redundancy:

Make sure that the time dedicated to the task of data entry is productive by ensuring that only useful data is entered and processed. Obsolete data or redundant data must be removed to enhance the relevance of the database. Periodic reviews should be carried out to monitor the processing of forms and applications to ensure that only relevant data gets into the system.

2. Data Profiling:

Make sure to analyze data for its accuracy and completeness to find defects and errors in the data as it can lead to the risk of wrong predictions and sales analysis. The database should be of superior quality and accuracy to ensure the best results and profiling will help businesses to keep an eye on redundant data.

3. Periodic Analysis:

Carrying out periodic analysis will enhance the process of data correction. It can be carried out as a cluster analysis where a bunch of data elements is analyzed to find the discrepancies and the source error. Another method is Data event analysis where the events where data is created or modified are analyzed to identify problems if any. Consistent monitoring will enable you to validate the improvement and prevent the repetition of similar mistakes. A feedback system involving field staff and operators is another way to find errors in a constructive manner.

4. Prevent Data Defects:

Make sure that the entry of wrong data is prevented at source thereby reducing the need for future corrections and analysis. Identify the source causing the inaccuracies. Data errors can result while data is being moved from one database to another. By finding the source of error, data corrections can be carried out effectively.

5. Standardization:

Standardization of the process of data entry will enhance the accuracy, consistency, and compliance of data and above all will make automation easy. Accuracy standards like geocoding, matching or data monitoring are some of the many methods that can be used to enhance the overall quality of the data entered.

6. Automation:

Manual data entry is a time-consuming and cost-intensive process which is prone to inconsistencies and errors. By automating the process of data entry using technologies like OCR and IMR, the chances or errors can be brought down substantially apart from decreasing costs and corporate risks in long term. Automated error reports are highly useful when you need to enter the same kind of data. It will alert the team in case of any mistakes thereby making it easy to correct it then and there.

7. Provide training to your employees:

The data entry team should be given training on how data entry can affect your business that will help them to be more responsible at the task of entering data. Make sure that your team is not under pressure to achieve unrealistic data entry targets. As it can reduce their concentration and increase the chances of errors.

Data entry makes an indispensable part of any business activity. However, as it is a noncore activity that eats into a lot of time and effort of your in house team and may leave your core business operations compromised. Availing the services of high quality and efficient data entry outsourcing service providers would help to enhance the productivity of your organization and optimize the productivity of your team. If you are looking for a data entry outsourcing provider, you have come to the right place at Data Entry India Outsource. Call us for more information.

For Information On How Data Entry India Outsource Will Deliver Value To Your Business Through Data Entry Outsourcing Services, Please Contact Our Team On IND +91-97-4710-9911; Or Write To Us At info@dataentryindiaoutsource.com.

Outsource Web Research Services to Expand your Business

Data is one of the most important driving forces behind every successful business. Without a superior database to bank upon, there can’t be any progress for businesses. IDC reports show that “nearly 20% of the data in the global datasphere will be critical to our daily lives. To make the most of the data, it is important to get rid of duplicate and erroneous data so that businesses can plan business strategies. Outsource web research services to best web research company can expand your businesses.

outsource web research services

The booming eCommerce line is involving through its data, targeting customers and attaining its potential with significant data. Accurate data is the key in any business because, without a proper database, no business will know the markets trends, competitors analysis and other vital parameters that will help businesses to plan strategies and developmental plans. Having the right data is like having an accurate road map to reach your goals as it will give you a clear cut idea of the market, customer indexes and competition to will help you expand your business reach and make well-informed decisions.

Outsourcing Web Research Services will make it easy for businesses to cope up with the increasing competition and mounting expenses without compromising on the quality. Web research outsourcing makes a good investment for businesses as it is essential to collect information on the latest happenings in the global market. Outsource web research services to understand the current business trends.

To ensure fine quality data, here are some of the practices that businesses can adopt.

Removing Erroneous data

Duplication and erroneous data will be a serious concern for businesses because it will hamper growth and will mask the real business goals. Inaccurate data can cause inconsistency in results and may fall short in executing the strategies. One of the tried and tested methods adopted by every genre of businesses is outsourcing web research services to get access to superior quality and reliable data that will meet the organizational goals. In order to weed out, duplicate data enrichment services can be adopted.

Following a Systematic Data Enrichment Mechanism

Regular auditing and the execution of standard processes can keep away doubtful data. Thus data management is of paramount importance for any organization to ensure its full capacity and potential. Poor data quality can leave a negative influence on businesses goals and may slow down the developmental plans on the anvil.

Maintaining a Proper Structure

The data that your businesses use needs a proper structure and must be arranged according to your requirements. By outsourcing, the data gets organized in appropriate formats and in integration with the technology that the business uses. Thus it will ensure that the data can be managed without having to encounter serious issues.

By outsourcing, you get the right and relevant information that can utilize to formulate various marketing strategies including lead generation. A reliable outsourcing partner will use the accurate tools and technology to extract the right information from reliable sources, extract the information, cleanse it and process it to turn it into an easily accessible and ready to use the database that will help them beat the competition and surge ahead.

By outsourcing your web research requirements you get the best value for your investment as you will be getting a reliable database that can be used for a long time. By availing the expertise and experience of the outsourcing partners in web research services, you can employ your in-house team on core business operations and better marketing. Thus outsourcing will help you focus on what you do the best while the tedious task of web research services gets sorted by the experienced team at the outsourcing partner.

If you are looking for an expert outsourcing partner to outsource web research services, contact us at Data Entry India Outsource with extensive experience in providing world-class web research services for both B2B and B2C organizations.

5 Best Practices of Effective Data Quality Management

For businesses, maintaining the quality of the ever-growing volumes of data is easier said than done. Data quality management is not just about removing incorrect data or repeat entries but adhering to quality standards all through the streamlining and integration of processes.

5 best practices of effective data quality management

There are many strategies to ensure data quality and a focused plan for data governance and data management will have far-reaching benefits. It is always recommended to prevent data errors and anomalies rather than dealing with data failures. Prevention is indeed better than cure as far as data quality management is concerned.

The business units that are the main consumers of the data should effectively define quality to ensure priority for the business-critical data. A dedicated team of data leaders from within the organization who control data integrity in the system can go a long way in enhancing the quality of data. They can be held accountable for the accuracy of data, which will ensure good quality data generation at the source.

Setting up a board with representations from all business functions will streamline the process of ensuring data quality across various departments in the organization. The board should have periodic meetings to define new data quality targets and analyze the status of data quality within various business units.

Data is the biggest asset of any organization. So, make sure to carry out quality audits to ensure that the data, entering the systems is of acceptable quality. Every time the data is retrieved or modified, it may lose its accuracy and bad data elements can negatively affect subsequent data stores, thereby impacting business. Setting up an intelligent virtual firewall can block the bad data at the point of origin and prevent it from entering the system. The firewall on detecting corrupt data can be rectified before letting it pass into the enterprise’s environment.

Best Practices for Data Quality Implementation

Data quality management is a cyclic process that involves multiple steps and foolproof data management practices. Make sure to set up a system to implement data quality at all stages of its processing.

1) Data Quality Assessment:

Random and regular quality audits and detailed inspection of the company’s data will go a long way in identifying data quality issues within its environment if any. Poor quality data can slow down the business processes and hinder the attainment of your goals. Data quality assessment is a sensible investment for organizations to ensure data quality improvements and measure the outcomes. A formal report can be drawn out with a listing of the findings to be circulated among stakeholders and the top management levels to create better awareness and compliance of data quality improvement actions.

2) Data Quality Measurement:

Data quality measurements will help organizations to measure the quality of data. Setting up acceptable standards for these metrics is the basis of implementing improvement processes. Factors like completeness, consistency, and timeliness can be employed to ensure the desired levels of quality. These metrics can also be used while formulating data validity rules. These data quality scores can be stored and periodically assessed to measure the improvement.

3) Incorporating Data Quality into Business processes:

Data quality systems should be incorporated into the business processes of organizations. A thorough understanding of data flow within each application will give a clear overview of the possibilities in data inspection and control routines. These requirements can thus be included in the system’s functional requirements.

4) Data Quality Improvement in operational systems:

To ensure the stipulated levels of data quality, there should be a contractual agreement between the data providers and consumers within which data is shared. Data metrics like performance SLA s can be incorporated into these contracts easily. Setting up a data standard will ensure a smooth flow of information and an active data center management that would ensure that data remains beneficial to both sides.

5) Timely Remedial actions:

Manual or automated data quality inspections can be carried out to ascertain the working levels and take remedial actions if required. There are data defect tracking software systems, which will ensure quick remedial actions if the data quality levels drop beyond the standards.

For more information on how our quality data entry outsourcing services will ensure long term value for your business, contact our team at Data Entry India Outsource right away.

How Your Competitors Outsource Data Entry Services?

More businesses outsource data entry services these days to optimize their resources without compromising on efficiency. Data entry remains one of the most time-consuming processes in every organization. Maintaining an in-house team can be expensive and above all would mean channeling their effort and productive time to non-core operations like data entry. For the same reason, your competitors outsource data entry services to a competent BPO service provider in India.

how your competitors outsource data entry services

You can emulate the success formula of your competitors by analyzing their winning model in data entry outsourcing and implementing the same to ensure the best results. Your competitors can teach you a lot of finer things and benefits of outsourcing that you may not have considered and may help you to approach the problem for a new angle. Though outsourcing can tackle the challenges of data management, it takes some time and effort to choose the most appropriate data entry partner and to understand the competitive edge your competitor has in data entry outsourcing.

Outsource Data Entry Services by Steal Your Competitors’ Success Mantra

The Level of Customization

Data entry needs vary from case to case depending on the size of the business and type of industry. You can watch some of your competitors who may have successfully implemented outsourcing in data entry for possible clues. Choose an outsourcing partner which can provide a certain level of customization to ensure success and find an outsourcing partner that offer bespoke solutions that offer the best outcome.

Easy Access to the Latest Technology

By outsourcing your data entry tasks, you get the unbeatable advantage of the most trending software tools and technology. Which will enhance the accuracy and speed of the output. Procurement of the latest software tools or getting the in-house team trained will take a lot of effort and time.

Quality Audits

Outsourcing partners conduct quality audits to ensure that the data conforms to the prescribed business standards. Businesses need to discuss with the outsourcing partners on random quality audits to ensure the ultimate data accuracy by them or a third-party to make sure that the data quality is assured. Businesses can conduct periodic or random quality checks either real-time or on batches to make sure of the adherence of the quality guidelines. It will make doubly sure that the information of the database is reliable and free of errors.

Beat Cultural Barriers

Another benefit of outsourcing data entry to off-shoring partners is that they will be familiar with the regional dialects, lingo, and cultural aspects, which will go a long way in ensuring the quality of data. Outsourcing will ensure the advantage of hiring local hands that will be more familiar with the business requirements of the region and the data that they handle.

Quick and Efficient Support

Probably the best advantage of outsourcing is that businesses will have a quick and able back up support. Even when they have some urgent or bulk data entry need to handle. When you require urgent help, outsourcing is the best possible option to consider. For this, businesses should choose outsourcing partners that can offer scalable services and employ the latest technological tools. Quick and efficient support services are the key to succeed and survive in a highly competitive business world.

Data Security is of Paramount Importance

Data security is the most important aspect of data management. It is crucial for any business to ensure the safety and confidentiality of the data. Any business will be at risk if the client’s data is not safe. To avoid any cybersecurity threats, choose outsourcing partners that adopt the latest encryption technologies and tools that will ensure data security during all the stages of data processing and compilation. Make sure to verify the security guidelines offered by the outsourcing partners before choosing your business to avoid risks.

Data Entry India Outsource has been offering reliable data entry services for many years now. We offer successful and efficient outsourcing solutions at industry’s best rates. If you are planning to cut down your operational costs and increase your data entry efficiency. Then you can count upon us. Call us to discuss your data entry outsourcing needs with our specialists.

How Does Data Conversion Services Benefits A Firm?

The bedrock of every successful business organization is instant access to the right data. Data conversion is a highly responsible and time-consuming task that involves sourcing data from countless appropriate sources to get the most accurate data that businesses can adopt in their planning and development. Be its financial statements, competitor analysis of customer shopping trends or more, accurate data will pack a punch to the marketing efforts and help businesses to stand out in the competition.

how data conversion services benefits

Data entry involves converting fragmented data into easily accessible formats and cleaning and organizing it in a safe digital format, which is a specialized task that requires professional excellence and expertise for best results. This is what makes data entry outsourcing important.

Here are some of the benefits of data conversion outsourcing for businesses

Organization

Staying organized is the trump card of every business as it assures smooth workflow and data management. However, unorganized data in fragmented form may not be useful for businesses as it requires a colossal effort and time to sift, organize and transform data to make it accessible and useful. Data conversion services will convert data into any file format that you may need and from any disorganized state to turn it into an easily accessible and organized database that is fit for instant access and utilization.

Data conversion prevents redundancy and helps to save storage space and the associated hardware and software application needs. Another major advantage of data conversion is that it enhances data presentation and makes it easy to share the database among the authorized users.

Safe Data Backup

Ensuring a safe data back-up is crucial for any organization to prevent data loss and erosion. If the data is not backed up efficiently and regularly, the data could be at risk from various elements like hackers or viruses that could compromise your network. Natural calamities can destroy hardcopy files, so it is important to make sure that the data is backed up offsite, in a permanent, easily accessible location. Data conversion services make back up services more easy and effective by offering a permanent file backup in secured, easily accessed online locations. By converting the file into a digital format, businesses can eliminate the risks of duplication of data or data loss and ensure secure storage where the data is easily y accessible for your staff members.

Document Management

Document management services can offer complete digitization of your hardcopy files, which helps you to manage the documents more efficiently. Your digital documents can be indexed, archived, accessed and shared among the users easily to ensure a smooth workflow for your entire organization. Document conversion services will ensure data protection, easy access and better organization of data.

Incredible Cost Savings

Businesses can save 60% or more of their operational expenses by outsourcing their data management requirements. Outsourcing will help you save cost benefits in setting up infrastructure, software, hardware, and expertise. If you are looking for a sure fire way to enhance your performance and data management options without compromising on your budget, then outsourcing of data conversion services is the best possible option.

Multiple data conversion Options

Another major advantage of outsourcing data conversion services is that you get multiple options for conversion formats including HTML Conversion, PDF Conversion, XML Conversion, and Word Conversion among others to match your needs. An ideal service provider can transform your data into any format of your choice regardless of what the original format might have been. It will ensure easy and hassle-free access to data online and easy sharing among those who need access to this information, which in turn will ensure better data flow and enhancement of the efficiency of various departments.

If you are looking for reliable outsourcing services for data conversion services to get a competitive advantage and better productivity, look no further than Data Entry India Outsource. Call our friendly team for a free quote or details.

Can Financial Data Entry Prevent Recession-like Situations?

Precise and well-timed financial analysis will make a solid foundation for businesses and the stock market. Having a perfect financial data entry system in place can enhance stock market stability. It assumes greater significance in light of the recent suggestion by the International Monetary Fund that central banks all over the world should act as “market makers” in financial crisis conditions.

financial data entry services

Data Entry and Financial Future

While analyzing the stock market performance, the first thing that has to be analyzed is the relationship between investment risks and data management. Stocks and securities involve a continuous stream of financial data and any errors in data management can cause mayhem in the market and confusion in the minds of the investors.

Economic experts are highlighting the importance of financial data entry and bringing it to the public attention to avoid a repeat of market volatility prevailing since 2008. For instance, “High-Frequency Trading” is based on rapid data analysis using financial algorithms. But not many people tried to analyze whether the data is right or not.

The Role of Data Entry in preventing Stock Market Crashes

An ideal stock market can quickly match both buyers and sellers. However, in the event of a market crash, stock traders often make a retreat and shy away from making reasonable bids. Thus in the absence of serious buyers, stock prices drop rapidly.

The traditional role of a “Market Maker” is to always ensure a fair combination of buying and selling prices. However, computer trading has changed everything. The International Monetary Fund has recommended that the world’s central banks step in as market makers during such eventuality by using the financial resources of the central banks to stabilize the markets.

Are Global Financial Risks difficult to spot?

Spotting the financial risks that are constantly evolving and changing has always been a challenge. International Monetary Fund’s monetary and capital markets department sources say that global financial risks have “rotated” in three ways:

• From advanced economies to emerging market economies
• From solvency risks to liquidity risks
• From banks to non-banks

The changing profile of financial risks for stock markets means that central banks could only be the institutional entities that are capable of taking quick and corrective action to prevent stock market crashes. However, the European Central Bank and the U.S. Federal Reserve have opined that relying on central banking authorities have their limitations. However, accurate and timely financial data entry system can reduce the problems in stock markets.

How to prevent Stock Price Collapse

In drastic situations, banks could create enough funds to buy all outstanding stocks and bonds. Most market crashes happen because of a lack of order in the market and over-valuation of the underlying investments. Be it gold to stocks to real estate to oil, any market may crash in the absence of a systematic order in the transactions.

Maintaining Financial Stability

Financial stability is a key factor for both investment markets and commercial enterprises. Financial data entry process can go a long way in helping businesses to be stable. Businesses can adopt a sound financial data entry system. By outsourcing data management to well-experienced outsourcing partners and stay safe from the pitfalls in the market. Having the right data will help businesses to make well-informed decisions or even forecasts that pay off.

If you are looking for a reliable financial data entry system, Data Entry India Outsource will make a great choice. We have the requisite technology and expertise to handle all types of financial data entry tasks and come up with bespoke reports that match your needs. Call us to get started.

Top 6 Manual Data Entry Challenges Companies Face

In a digital world and paperless work environment, businesses increasingly strive to adopt digitization of paper documents to improve efficiency and productivity. Manual data entry also offers ample digitization options to ensure accuracy, speed and better security of data. No matter whether it is feedback forms, receipts, catalogs or invoices, it is critical to capture all the relevant information from these physical documents into software applications like Excel sheets, ERP applications or cloud-based applications for better data utilization and storage. However, in-house manual data entry has a lot of challenges when it comes to meeting the parameters like speed, accuracy, and completion of tasks.

manual data entry challenges

In this post, we are discussing six of these challenges that manual data entry systems have to cope with.

Manual Data Entry Challenges

High rates of Errors: Maybe to err is human; however, it is not acceptable when someone is handling the crucial task of manual data entry, which holds a high risk due to human errors, inadequate training of data entry professionals, misinterpretation of comments, and so on. Even the smallest errors in data can leave a debilitating effect on business productivity, customer relations and brand reputation. The best way to avoid this risk is to identify the errors and rectify it. One way could be to take a random sample of records on a periodic basis and verify it. The average benchmark for data entry error rate is considered as 1% and anything above this rate should be considered as serious.

Slow Turnaround Time: A good speed of data entry from paper documents varies between 10,000 and 15,000 keystrokes per hour. It could be less while capturing data from images and more for tasks that involve a lot of texts or require an understanding of the text. If the turnaround time drops below this accepted benchmark, it is high time to take some damage controlling measures.

Ambiguous Fields and Formatting: One of the most serious data entry challenges is when the operators run into missing values. Assigning blank values or meaningless substitutes can all cause serious discrepancies in the desired output. To overcome this challenge, make sure that all the original documents are complete with values in the assigned fields and tables.

Quality Check: It is always easy to check the data for accuracy and compliance at the point of data entry than at a later stage when the data is in batch form. If no corrective action is taken, it could prove costly for businesses and can cause both serious losses of face and money. Periodic quality check makes an integral part of the manual data process. Businesses need to invest in manpower to handle this responsible task and implement practices such as the Double Entry System to ensure the right output.

Heavy data load: Businesses generate tons of documents like invoices, catalogs, survey forms and more on a regular basis as part of their marketing procedures. Managing an unexpected spurt in manual data entry work will put tremendous pressure on the data entry personnel and may lead to errors.

Loss of Focus: Manual data entry is mundane and repetitive and is not one of the core tasks of the business. It can eat into the productive time of employees that they could have utilized in executing the core business tasks. This can have a detrimental effect on the growth and strategic goals of the organization.

Though technology and tools have made data capture easier, manual data entry will always have a major role in dealing with unstructured content and validation. Several successful organizations have overcome these challenges faced by their data entry team by outsourcing manual data entry tasks as it ensures better value for their money, quicker turn-around time and reduction of operational overheads.

Data Entry India Outsource has the expertise and experience in handling huge volumes of all types of manual data entry outsourcing tasks at the industry’s best rates. Call us to know the details and invest your productive team on your revenue generating and business building tasks while we handle the data entry task for you.