3 Key Reasons to Use Automated Data Processing

Hectic workloads and tight competition in the corporate world have made data processing services necessary. But, handling non-operational activities is time-consuming. This has made us outsource data processing works to the best service providers available in town. The agencies offering data processing services use many methods to support their clients who outsource data processing services. And automated data processing is one of the techniques they use. So, if your company recently approached a BPO agency to support you with automated data processing techniques, you will have particular reasons for choosing that technique. Given below are a few similar reasons.

automated data processing

  1. Better Efficiency

Using methods of manual data analysis can be time-consuming and bring in a lot of inefficiencies. And while working on something as important as sorting data, focusing on other revenue-adding tasks can make things look complicated. On the other hand, automated data processing methods can relieve headaches, improve efficiency, and help you efficiently process large volumes of data. Moreover, it helps you manage data efficiently.

  1. Improved Data Security

As humans, there is a very high chance for us to make mistakes. Data processing automation is one of the options that can help you reduce such errors. And once certain activities are automated, you will no longer have to worry about spelling errors or the errors made while interpreting them. Of course, not all dangers the data is prone to happen by mistake, like in case data stored in unsafe are prone to theft. However, automated data processing is one of the ways to keep your data safe from such dangers.

  1. To Get Rid Of Data Silos

In every organization, there might be some data that fall under the category of data silos. One of the most straightforward examples of data silos is the emailing software (if any) used by your firm’s marketing department. Though each department has the tools to carry on its day-to-day work, making strategic decisions requires reports from multiple sources. But with data silos like this, it might be hard to collect necessary data. This is when an automated data processing system becomes helpful. Such systems in your organization will help you get the required information automatically and store it in an easily accessible location. This will help you speed up your work and offer the necessary services well ahead of time.

Every organization we know outsources data processing to a BPO agency offering data processing services for a specific reason. For which of the above reasons would you outsource data processing works, and why would you prefer the automated data processing technique?

What Makes Change Data Capture Services Important?

Data capture services, as we all know, play an essential role in helping organizations transform the required data into digital format. However, with time, the data saved in our system undergoes many changes. And the agencies offering data capture solutions should also help organizations identify and capture those changes to enable the free flow of work. This set of services is known as change data capture services. If you are new to the concept of change data capture services, the upcoming section will help you understand why it is vital to organizations.

change data capture services

  1. Helps In Better Management of Master Database

All organizations are constantly looking for an efficient system to manage their database, particularly their master database. Availing of change data capture solutions facilitates easy data extraction from multiple sources. It also helps them endlessly update their master records.

  1. Facilitates Faster Data Collection

While availing of change data capture services, you will see that data moves quickly from one database to another. This helps you complete data collection in no time. In addition, this allows organizations to make informed decisions and submit the required reports on time.

  1. Helps In Easy Integration of Apps

Using change data capture solutions can make it possible for specific software tools to combine with database systems that are otherwise conflicting. This will, eventually, make organizations flexible when choosing apps for business purposes and give them enough options to consider.

  1. Facilitates Actual-time Data Loading

One of the main advantages of availing of change data capture services is the ability to load data during the problem-solving time. This is one of the main reasons why many mid-sized and large organizations should consider using this service.

  1. It Helps Us Bring Down the Pressure on the Operational Database

Another way in which change data capture solutions help organizations is that it enables you to create another copy of your operational database. As a result, organizations can function smoothly without putting much pressure on the operational database by making users depend on this copy.

Thus, change data solutions offer various benefits to organizations looking for data capture solutions. Each of the benefits mentioned above helps organizations handle time-sensitive information properly and work well by catering to their client’s requirements and keeping up their reputation.

Which benefits do you look for while choosing data capture services or an organization offering data capture solutions?

Catalog Data Entry and Customer Relations

Good customer relations can be considered a backbone of a business. And data plays a vital role in business development and customer relations. Catalog data entry is an essential type that helps you convey your product’s important details to your target audience. This is one of the main reasons we outsource catalog data entry services. Reading this blog will help you understand the role of catalog data entry in maintaining good customer relations.

catalog data entry and customer

  1. Outsourcing Catalog Data Entry Services Helps You Improve Your Customer Reach

Customer reach is significant in performing well in today’s competitive world. With every firm taking the necessary steps to win new customers and maintain good customer relations, outsourcing catalog data entry services will help you acquire new customers. This is because we can market digital catalogs created by BPOs to customers via social media and other online platforms. Being able to contact you quickly via such mediums is critical in building good relations with your customers.

  1. It Helps You Categorize Products Easily

A significant merit of catalog data entry is that it helps us quickly categorize products. Such services use a specific algorithm to list products. Creating lists and naming products enabled by catalog data entry will help you fully portray your products. This will give the feeling to your customers that you are approachable and your service is good, laying the foundation for a good relationship.

  1. It Helps You Give Attractive Product Descriptions

Good product descriptions can help your target audience understand your products. Giving good product descriptions to your products by availing of good catalog data entry services is one of the best ways to market products. When a firm explains the features of its products with a catalog clearly, it will give clarity and credibility to its customers. This step has a vital role to play in building good customer relations.

  1. The Use Of Updated Images In Catalog Data Entry Helps In Better Conversion

Working with experienced catalog data entry professionals makes gathering information, manipulating images, and uploading it easy. Using the right photos enables better conversion and helps you use images for your brand.

Now you know how good catalog data entry services can attract customers and how it enables you to build a good brand image in their minds. If you are too busy to do the catalog data entry yourself, you can take the help of agencies specializing in it to build good relations with your customers.

4 Realistic Methods to Convert PDF Table to Excel

Have you ever contacted a BPO for PDF to excel data entry services because you need more time to do data entry from PDF to excel? This is one of the firms’ most critical steps before analyzing data. In this blog, we will learn four easy methods to convert PDF table to excel.

pdf table to excel

  1. Extraction

PDF Extraction is another service offered by agencies offering PDF to excel data entry services. Various online tools help you recognize the format, add the necessary tools, perform multiple operations, and change texts. In addition, this method can help you draw out different forms of data.

  1. Copy and Paste Using MS Office Tools

Even though many firms offer PDF to excel data entry services, we would also like to manually make the data entry from PDF to excel. The easiest method is copying and pasting data in the table from PDF to excel. But this might look scary if the files you use are too big. In such cases, you can right-click and open PDF files. Then you can open the 2016 version of MS word and the PDF file in it. This will help you convert the PDF file into an editable form. This will help you effortlessly copy the required data from the PDF file. Then, you can manually do data entry from PDF to excel using the copy-paste option.

  1. Convert Huge PDF Files to Excel Using Online Converters

If you are looking for free PDF to Excel converters, those like PDF tables can help you get that done. Unlike the copy-and-paste method, these tools can quickly help you get the desired results. You can also do it using a unique API key. Once you convert the file from PDF to Excel, you can save it in a preferred location in your system.

  1. Use Adobe Reader

Another option available to convert PDF table to excel is adobe reader. One of the main advantages of this method is the facility to convert PDF files to Excel without reformatting or making a manual data entry from PDF to excel. Here you have two options: To create PDF to Excel conversion using mobile. Draw out the necessary data into an editable format. You can then open the PDF files in Adobe reader, convert them to Excel format using the export option, and save them in the desired location.

Which of these methods were you aware of earlier?

Components of Customer Relationship Management Data

Data entry services are a commonly used term these days. We outsource data entry services of various types to data entry services providers popular in our area or industry. Some data entry service providers allow us to outsource data entry services crucial for customer relationship management activities. This blog will look at the various components of customer relationship management data. This will make it easy for you to crosscheck the details before outsourcing data entry services next time.

customer relationship management data

  1. Identity Data

As the name indicates, identity data helps us quickly identify various stakeholders like customers, contacts, and leads. Some of the simplest examples of identity data include:

  • Name: This refers to the first and last name of a contact
  • E-Mail Id: The address at which a person can receive mail or things
  • Phone/ Mobile Number: This becomes applicable if the person intends to receive any information via telephonic communication
  • Personal Information: This can be anything like the date of birth of your customers or the account details related to a product or service
  • Social Media Links: This refers to the links of the social media handles shared by the customers.
  1. Descriptive Data

When you outsource data entry services, you might share some of the data that tells us more about your customers and their lifestyles. For example, some of the customer relationship management data dealt with by BPOs include educational details, career details, marital status of customers, their number of children, general interests, etc.

  1. Quantitative Data

Quantitative data helps us understand how often each of your contacts has contacted your firm. This includes the number of times your contacts have purchased from you, the number of times your customers visit your website and engage with your brand on social media platforms, and the links that take them to your website.

  1. Qualitative Data

Qualitative data stored in our system helps us understand the attitudes and behaviors of our customers. This data gives us valuable insights into how they make purchasing decisions. Direct feedbacks and surveys are the two primary sources of gathering such data. Some of the points considered to collect such information include:

  • Rating provided by customers for the company’s services
  • Customer satisfaction level
  • Reason for making the purchase
  • Reason to choose the product

This is a brief outline of the types of customer relationship management data dealt with by a BPO while working with clients from various industries.

How Digital Firms Benefit From PDF Conversion Services

What comes to mind when someone asks you to name one of an organization’s most commonly used file formats? Most of us will likely say the answer is- a PDF file. Using PDF files offers multiple advantages. Organizations worldwide do PDF conversion on their own or use agencies’ PDF conversion services. This blog will help you understand how digital service providers benefit from PDF conversion services.

pdf conversion

  1. Perfect For Editing

Is your digital company dealing with many reporting changes? If yes, PDF conversion is something you would love. Microsoft Excel helps you perform a lot of operations. PDF to Excel conversion enables you to utilize the features of Excel to perform calculations and other functions.

  1. It Comes With Several Formatting Options

Many firms store documents in a PDF format to easily share them with various stakeholders. One of the most common tools every organization has is a PDF converter. This will help us modify, alter, or edit Word and Excel files whenever required, which will be extremely useful for digital firms.

  1. Data Security

Converting files to PDF format is one of the most accepted ways to keep your data safe and secure. This is the primary reason firms why prefer PDF formats over others. Nowadays, organizations protect PDF documents with passwords to protect confidential details from unauthorized parties and visitors.

  1. Helps In Standardization

Managing thousands of documents saved in different formats is a highly challenging task. One way to simplify this is via PDF conversion. PDF conversion software currently available in the market allows you to convert documents to help you maintain essential details and records in a standardized format.

  1. E- Signing

Digital business firms conduct almost all their dealings online. These days, there are facilities to create PDF contracts than sharing hard copies of these contracts online. The online PDF converters available these days let you mail the required documents to the concerned person to get them signed. Moreover, we use this method to sign e-bills received from suppliers. All you need to attach e-signatures is to open the PDFs in a PDF editor and add the e-sign. One way to add an e-sign is by creating it with our fingers. If not, we can also attach an already available e-sign.

PDF conversion is considered essential by many organizations for the benefits mentioned above they offer. We also think of it as a way to save time and money as PDF files remain in their electronic form.

Useful Excel Functions for Finance Professionals

In the present world scenario, data processing has become extremely important for many professionals. One of the leading professionals who have benefited from data processing, particularly excel data processing, is finance professionals. This blog will brief you on some of the critical excel functions helpful in solving financial problems. An important point to remember during excel data processing is that we can use some functions independently and other functions as a combination.

excel functions

  1. Effect

This function helps finance professionals calculate the actual annual interest rate in case of non-annual compounding. Professionals handling lending and borrowing-related activities are those who mainly use this function.

  1. XIRR

The XIRR function helps us to ascertain the internal rate of return for a group of cash flows on specified dates. This function is very important for finance professionals.

  1. MIRR

In this function, IRR undergoes modification. Calculated using the formula MIRR (cash flows, cost of borrowing, reinvestment rate), ‘M’ denotes modified. You can use this formula if you wish to invest the returns from one investment in another. One of the simplest examples from daily life to understand this concept is investing the returns from a privately run business in a government bond.

  1. PMT

Finance professionals who do financial modeling for real estate firms will know more about this formula. Once you have the interest rate, the number of years/ months or any other period, and the amount borrowed sum, say, mortgage, you can calculate the value of the mortgage payment.

  1. IPMT

Using the formula (rate, current period #, total # of periods, present value), this function helps us ascertain the interest of a fixed amount of debt. This function works perfectly well with PMT. Separating interest payments for every period will give you the principal amount you must pay every time.

  1. DB

This is another crucial excel function used by finance professionals. It helps us calculate the depreciation expense of every period. Analysts involved in financial modeling generally come up with depreciation schedules independently.

Do you feel like learning more? These days, we can see a lot of books and videos that will help anyone know more about excel data processing. Make sure you utilize those resources to the maximum to become an expert in the data processing. So, which of the above functions do you think will be most helpful for you at work?

Significance of Purchase Order Management System

Purchase Order Management is a crucial function handled by accounting professionals. And it is essential to do purchase order data entry, aka purchase order entry, for every purchase made, irrespective of who we purchased it from. Purchase order data entry has a huge role in helping firms keep track of their expenses and inventories. This is something that is of immense significance for project management. Managing purchase orders can be an arduous task in the absence of a proper purchase order management system. Investing in a sound purchase order management system is one the simplest things you can do in this case. And choosing an electronic PO system can help in several ways, like digital creation and purchase order submission, purchase order tracking, etc. Use a purchase order management system instead of making a manual purchase order entry. The following section will help you understand its significance.

purchase order management

  1. Improves Accountability

An electronic PO system requires us to have certain approvals and login details. It helps us keep track of actions taken on a purchase requisition and makes the related data easily accessible, facilitating better problem-solving. Moreover, it makes things more accountable and helps us adopt better procurement policies.

  1. It Helps Us Take Care Of Contingencies

A well-managed purchase order database will help us deal with unexpected expenses. In addition, it will serve as an early warning system when we make a new purchase order data entry to the system. This will be helpful for finance departments to get better clarity regarding upcoming expenses.

  1. Manage Inventories Better

A purchase order management system helps us efficiently manage inventory and track orders. Moreover, they help you crosscheck purchase orders with invoices to ascertain the accuracy of the inventory. It also enables you to find a 3-way matching to make it more accurate.

  1. Get A Better Idea Regarding Cashflows

Making a purchase order entry helps you better clarify your cash flow. This will enable organizations to identify various trends better, decide whether to retain their vendors/ suppliers, and carry out contract terms. In addition, it helps you stay better prepared by doing budget forecasting, thereby allowing you to make crucial business decisions proactively.

  1. Helps Us Prevent Duplicacy

Making a duplicate purchase order by mistake is one of the most common challenges a firm deals with large volumes of purchase orders. However, having a purchase order management system is one of the easiest ways to eliminate such problems.

Popular Data Processing Operations

We can rely on various agencies around us for expert data processing services. This expertise remains one of the top reasons we outsource data processing services to such firms. Don’t feel there is a need to outsource data processing works to an outside agency? Then you will know that provision of data processing services will involve a few processing operations. However, how the processing operations are applied will vary depending on the data processing method used. This blog will look at some processing operations used while performing data processing.

data processing operations

  1. Recording

Recording is the first processing operation done as a part of data processing services. It helps us transfer the required data in the form of intermediate facts and figures derived from calculations into some documents. For example, suppose you have spoken to the agencies to which you outsource data processing works; you will see that gross pay is an intermediate value we record for further application.

  1. Verification

Most of the time, recording is done by us manually. Therefore, any information entered manually can have some inaccuracies in them. The process of verification helps us identify such errors and ensure accuracy. Cross-checking typed reports are one of the most straightforward examples to help us understand the verification concept.

  1. Duplicating

Duplicating is essential in some situations. It helps us copy data into the required form of documents. We can do it while manually recording data or using a suitable machine.

  1. Classification

As you can make out from the name, this operation lets us separate the data into different categories. Here we group data with similar features into a single category.

  1. Sorting

This process helps us arrange the classified data in the required order to enable easy processing.

  1. Calculating

Here, we alter the available data using mathematical formulae and operations. For example, it helps us calculate the employees’ monthly income and other related information.

  1. Summarizing And Reporting

This operation helps condense the data to enable easy understanding. Finally, we can represent the conclusions drawn after outlining the available data in simple formats.

  1. Merging

During this operation, more than two data sets use the same key and then combine to form a single data set.

  1. Storing

We then save the merged data for future reference via manual and electronic. For example, electromagnetic methods like ledger books, punched cards, magnetic tape, etc.

  1. Retrieving

This operation helps us get back the stored data.

  1. Feedback

If you wish to compare the goals set and the output, feedback is an operation that can help you with it.

4 Challenges Faced By Data Conversion Services Providers

It has become a regular practice for organizations to outsource data conversion services to competent service providers for various reasons. While offering data conversion services, such firms draw out the necessary data from the given set, convert it into the required format, and upload and store it in an accessible folder in the concerned system as per their need. Firms that outsource data conversion services will have many requirements demanding the data conversion services providers to handle different types of services like those involving complex conversions. This blog focuses on critical challenges data conversion services providers will face during the process.

data conversion service

  1. Insufficient Data Analysis

One of the most common scenarios a service provider is likely to encounter during the conversion process is hidden information and users who aren’t that knowledgeable of that data. This can lead to missing information and inaccuracies, making it difficult to convert the data. Without a lot of time to correct such problems, the best solution would be to identify such issues during the planning stage.

  1. Absence Of Clarity About The Available Data

Dealing with data about which you have very little clarity will make it challenging to identify the simplest mistakes like missing information and inaccurate data. While a layperson might feel it is ok to ignore such issues, they can be the actual cause of many crucial failures. Thus, data conversion will not be successful without understanding such matters.

  1. Ineffective Collaboration

Data conversion projects involving many technologies requiring people from different divisions to collaborate can bring inefficiency if things are not proceeding as per your plan. This will make it challenging to solve issues (if any). But, if you can ensure effective collaboration in your organization, from the first stage to the last, you can avoid misunderstandings amongst your team members.

  1. Absence Of Proper Testing

We all get to see data saved in a new system towards the end of the design and development stage. It is impossible to make changes at that stage in case of unpredicted problems like data incompatibility. Including an agile testing process by involving your end users in the early stages of the process makes it easy to gather feedback and saves time and money.

This blog gives you a fair idea of some of the critical challenges data conversion services providers face. So now, you can take the necessary steps to help these firms function without bothering about these challenges before outsourcing data conversion services. So, what challenges do you wish to deal with before you outsource data conversion services again?