Outsourcing is when a company solicits the services of an external contractor to carry out work activities that would previously be done in-house. This strategic move became a popular practice for businesses from as far back as the 1990s. It was seen as a way to concentrate efforts and resources on adding more value to the main business itself. A common consequence of this transition is the downsizing of staff to the skills required for the core business operations; and so it was often implemented during times of recession. However, corporations today look to outsourcing as they are increasingly interested in the streamlining of their operations and improving efficiency.
At present, the main sectors that outsource their transcription needs are medical, legal and call-center industries. This is mostly due to the vast amounts of audio, and more recently, video files they generate that need to be converted into text. Although the outsourcing of this service offers a range of benefits to almost any corporate context. Here’s a summary of the key associated advantages:
1. It saves you time and money
Transcription, to the untrained employee, can be a very time-consuming and mundane activity due to the routine nature of the task. More often than not, the in-house employees who would normally carry out these sort of tasks would be doing so in parallel to their main work responsibilities. This could be the transcribing of meeting minutes or the addition of subtitles to an online tutorial. Corporate transcription services are able to perform these tasks at a much faster speed and with an unsurpassable level of accuracy thanks to the winning combination of machine and human-verified transcription. TranscribeMe offers affordable, high quality transcription services that can tailored to your enterprise needs.
2. It helps your company cope with variable workflows and lack of expertise
One of the bigger financial strains that companies have to deal with is the fluctuation in work volume. At times, the workload may be much higher than the company’s capacity to deal with, which ends up overstretching employee efforts and resources. Other times, there may be lag periods that leave staff with plenty of time on their hands but nothing much to do. Either situation is not ideal as it can affect the office climate in a way that can be detrimental to employee morale and motivation.
Here, the major benefit that comes with outsourcing your transcription requirements is the flexibility and timeliness of the service. Its availability on an as-needed basis can help your company cope with the natural ebb and flow of your business cycle in sync with any tight turnarounds. Another associated benefit is the ability to tap into specialized expertise that may not already be present in-house. This may include access to translation services or other industry-specific knowledge. Also, it’s more likely that outsourced transcriptions will be viewed as more professional and objective by a third party, seeing as it is done by an external and independent organization.
3. It opens up your office space to a whole new world of advancements
Nowadays, the value of transcription is no longer limited to a simple conversion of audio-to-text. There are significant SEO-related benefits to be made the most of as well. The incorporation of AI technology into transcription services has increased its functionality and applications in the workplace. TranscribeMe works with speech recognition technology Voicea and their smart office assistant, EVA.
Speech data analytics is also a major growing trend often linked to transcription services due to the sheer volume of speech data they work with. It is this data that helps build more robust and accurate models for speech recognition through machine learning that can provide valuable business intelligence upon which smarter decisions can be made. Working with a reputable and experienced transcription company like TranscribeMe can provide you with privileged access these newer technologies. It is through the implementation of these advancements in the field that can help keep your enterprise maintain its competitive edge.
If your business turns over a high volume of audio and video files and you haven’t put outsourced transcription services to work for you yet, it is definitely a service you’ll want to consider implementing this year.
Contact our sales team today for a custom quote tailored to your business needs!