7 Key Factors To Consider Before Outsourcing Data Processing Services To An Offshore Partner

Data Processing Services February 10, 2021
Outsource data processing services

Based on a survey, the volume of data is increasing at an average rate of 63% every month with around 12% of firms reporting over 100% growth per month.

The growing data volume is a concern that needs to be proactively addressed. As the years pass by, the managing of data will no longer be a five-finger exercise. It will gradually become complex and unmanageable. If, as a business owner, you are unable to manage large volumes of data properly, you might lose the data and consequently affect the revenue and potential business opportunities.

Data processing involves locating relevant business information and demonstrating it in a way that is easily accessible, preferably presented in a digital format. It is extremely important that the business data is accurate, relevant, and consistent, only then will any organization be able to make effective strategic business decisions. Data processing, if done the right way, will have a positive impact on the growth of an organization. Apart from this, there are a plethora of benefits that the business will attract.

The data processing involves order processing, survey form processing, data extraction, invoice processing, OCR conversion, and so on. Nowadays, a majority of organizations are opting for data processing outsourcing to spare themselves from the hassles of data management and focus better on more critical business activities.

Data entry work is rather complex and time-consuming. It involves a great deal of research, resources, and effort. And since the information dealt with is highly sensitive in nature, it becomes imperative that it doesn’t go into the wrong hands. Outsourcing can surely reduce the burden off your shoulders, but it is important that you choose a reliable trustworthy offshore partner to take care of all your business data requirements.

Here we have listed some of the key factors that you should consider before outsourcing data processing services:

1. Quality, Accuracy & Consistency Of Data

The most crucial aspects of data entry are quality, accuracy, consistency, and relevance. If the business data meets all these factors, it will take your business to new heights. Make sure your potential data processing outsourcing company fulfills all these criteria and helps you keep the data up-to-date and free from errors. You should seek an outsourcing partner that overcomes all the data challenges and delivers quality-driven business data. Before outsourcing, you must consider factors such as their work culture and environment, access to the latest technology innovation, team commitment, and a lot of other things. Your intent should be to make sure that the quality of data does not get affected due to the negligence or inexperience of a hired resource. Also, avoid any significant issues that may arise while the data is recorded or stored.

2. Turnaround Time

When it comes to outsourcing the data entry task to an outsourcing company, it is important that you consider the turnaround time. It is to ensure that your potential outsourcing service provider is able to accomplish the tasks and meet the deadlines within the stipulated or requested turnaround time. Ask them relevant questions to be sure of their conviction to carry out a given task. In fact, even if there are any complications or issues, they must be able to deal with them efficiently and within the time frame agreed upon.

If you are sure that your outsourcing partner will be able to deliver the most accurate, quality-driven, and reliable data, then hiring someone like them is definitely a great idea. And when you outsource data processing services to a well-established company possessing hands-on experience in a similar or same field, it is surely a plus! You can ask them to do some sample work for you as well to be sure of what they are actually capable of. If you are satisfied with the kind of work they have done as a sample, then you must go ahead and hire them. However, if they do not meet up to your expectations, then it’s time for you to search for a better offshore partner.

3. Company Reputation & Competency

This factor is actually a thing you would want to look for in your outsourcing partner. If your potential agency has a high reputation in the market, chances are you are dealing with the best ones. Every outsourcing agency has to face a myriad of challenges including handling large volumes of data, bulk data entry, consistency, to name a few. If you hire an outsourcing partner of repute, you will be dealing with the one that possesses the competency to render quality data on an agreed-upon time, that too on a consistent basis. Obviously, the reputed firms won’t risk their reputation built over time by providing inconsistent, inaccurate, and erroneous data to the clients.

4. Pricing Compatibilities

The foremost intent of outsourcing the data processing task is to save on operational costs. Go through the various cost plans available with your potential agency and decide whether it is worth your time and money. While you outsource the task, make sure you are cutting down your expenses and saving more along with driving your focus towards more critical business issues.

5. Industry Expertise & Technical Know-How

With technological intervention, data can actually become more accurate and reliable, that too in a short span of time. So, if your outsourcing partner is employing the best and latest technology, such as dual-screen desktops, then it is possible for them to accomplish the entire bulk data entry task in a minimal time frame and with more precision. With the help of software tools, data checks can be carried out effectively, and with such an investment, the process becomes all the more short and swift.

The outsourcing agency must be aware of the prevalent software and technologies that are needed for data processing and consequently invest in an appropriate one to get things done smoothly.

6. Communication Skills

Another crucial factor to consider before outsourcing is communication. It is, without a doubt, a necessary part of a business. If your offshore partner has exceptional communication skills to elucidate what you are actually looking for and how they’ll approach it, then you must hire them.

Communication is basically a two-way process. So, even if you want to help your data meet its specific objectives with custom data processing, communicate that to them. A clear, concise, yet detailed conversion is all you need to bring both of you to the same page and make sure that your requirements are fulfilled perfectly.

7. Technological Skills & Competencies

The outsourcing company you intend to hire must be technologically equipped. Also, it should be at par with the other organizations prevailing in the industry. The agency must possess the latest technologies and software to enable enhanced outputs and accomplish the assigned task within the deadline.

The company should have a modern database and other services required for data processing services. The company should be on par with the other organizations present in the current scenario. Technology usage gives enhanced outputs and different tools can be used for different types of processing work. The organization should have all the technological equipment which is the best.

The Bottom Line

Before availing the services of a data processing outsourcing company, you must consider the above-mentioned factors and make a wise decision thereof. Make sure that you possess extensive knowledge of your potential outsourcing company, and you are certain that it will meet all your requirements and deliver you the best.

SunTec Data is a reliable offshore partner offering quality-driven data processing services. To learn more about what we offer, get in touch with us at info@suntecdata.com.

Suntec Data Logo

The SunTec Data Blog

Brought to you by the Marketing & Communications Team at SunTec Data. On this platform, we share our passion for Data Intelligence as well as our opinions on the latest trends in Data Processing & Support Services. Join our mailing list to stay updated.