Gartner envisages the outsourcing market worldwide will flourish 5.4% a year for the following four years, touching a whole value of $288 billion. More and more businesses are looking to their outsource data entry processes to recession-proof countries such as India. As per a report by SourcingLine, India ranks first for its cost-competitive location, massive resource and skill base.
Let us first look at the prime factors that determine the success of outsourcing data entry operations in reality.
The cost component
Cost is one major factor driving the decision-making process for many business owners. Outsourcing data entry can provide significant pricing benefits. Wages, one of the principal components of costs, can be one-tenth to one half of those in the US, especially when outsourced to India. Philippines, Indonesia, Egypt, and Pakistan are other available options, but the cost difference is not significant.
The cost depends on various other elements such as the use of advanced technology and automation systems, manpower, corporate, and other indirect taxes. In India, the VAT is relatively low at 12.5%, but other corporate taxes are about 34% when compared to other locations.
The time component
The time is a crucial component when opting for outsourcing data entry operations to any business process outsourcing company. The turnaround time (TAT) varies as per the type of business and volume of work and thus may be different for different processes. Clients usually rate BPOs on their delivery time or TAT and expect accurate, fast, and timely services.
Some projects demand a turnaround time of 24, 48, or 72 hours such as in case of invoice processing or accounting data entry. Automation is said to be the key to success. Deploying innovative techniques and tools in combination with superior minds can help achieve extraordinary results. The BPOs should devise methods and processes to cut down on time while not compromising on the work quality. The number of resources to plays an important role when considering outsourcing data entry activity.
The quality component
As per ComputerWorld UK (2010), companies reported disappointment with the quality of the work delivered by their outsourcing partner [s]. As per the survey, many companies still preferred cheaper options rather than the best quality. In reality, focusing only on the cost and neglecting quality can largely damage the organization’s reputation and brand value.
Established BPOs are now deploying quality assurance models such as ISO 9000, TQM, six sigma, and the eSourcing Capability Model. BPOs have now realized that quality is the soul of business and it cannot be compromised at any cost.
The telegenisys mileage
Businesses in search of a reliable outsourcing data entry partner can garner the benefits of outsourcing to an A+ BBB rated company Telegenisys. Telegenisys Inc, a Delaware company founded in 1994, with a vision to become a preferred business process outsourcing solutions provider to global clients, has a strong foothold in India having state-of-the-art data center facilities and highly skilled and experienced manpower. Telegenisys aims to become the industry leader by deploying a smart combination of automation and manpower to deliver accurate data entry on time cost-effectively.
Telegenisys has earned a reputation for itself by offering cost-effective data entry services. As an audited HIPAA compliance company, the customers are guaranteed privacy and data security. The company leverages the benefits of smart technology combined with its superior human resources. Be it cost, time, or quality, Telegenisys is well poised to meet and exceed your expectations by using cutting edge technologies and rich industry experience. With Telegenisys, the clients are assured of minimized business risks, uninterrupted services, and enhanced customer relationships.
Read more articles.
- B2B telemarketing services outsourcing – why critical for business growth
- Effects of “do not call registry” on telemarketing services outsourcing
- B2C telemarketing services Outsourcing – Analyzing customer needs can help
- Understand market dynamics better with market research services outsourcing
- Insurance services outsourcing – Can help reduce insurance fraud
- Business process outsourcing – How It Is done?
- Looking beyond conventional outsourcing advantages
- Outsourcing management – How to do it right?
- Analyzing help desk outsourcing trends
- Data processing – How to do it right?
- Customer service outsourcing – why It Is necessary
- Contact center outsourcing – Key to organizational success
- Merits of business transformation outsourcing services