Wednesday, 2 December 2015

How Can You Improve Data Entry Accuracy Rate? Start Outsourcing

Speed, Accuracy and Precision – if there is one common denominator that holds good for all three it is data entry. Irrespective of the type of the company or its size, data is generated and has to be processed. The only flip side to this whole scenario is that it creates a drag on precious resources of businesses and is non-productive in nature. Investments in setting up required data processing infrastructure diverts cash flow away from core activities and thus becomes a hindrance to business growth and development. This is the primary reason why data entry outsourcing is the prevailing commercial mantra, one that goes a long way to strengthening the bottom line.

Data Entry Outsourcing

It is an established fact that the accuracy of data entry and its processing rests on a host of factors. This is especially true for a number of industries such as healthcare and insurance where error free data entry is absolutely essential. Therefore, these industries generally choose to outsource this intricate job to companies that specialise in this activity and invest heavily to update systems, incorporate the latest software and recruit efficient manpower exclusively for this task. 

What then are the attributes of outsourced agencies that make sure that data entry entrusted to them is done precisely and accurately 

Speed and accuracy of data entry – Outsourced agencies who have taken on data processing have to stick to stipulated turnaround times and accuracy. If the data is not entered correctly, it can have huge ramifications as claims and reports are depended on this. These agencies are generally allotted a keying accuracy standard and benchmarks of accuracy levels for different tasks. Main and vital fields have higher precision stipulations while non-critical fields are permitted lower accuracy rank. The compensation paid by parent companies to these vendors is dependant largely on this. Hence, there is always an effort to maintain laid down norms and the required data entry accuracy rate is always assured. 

Accuracy audit and checks – Audit and accuracy checks are constantly carried out and are very important reasons why it pays to opt for data entry outsourcing to ensure accuracy. In the rare case of errors, quality specialists on the payroll of the outsourced agency track and monitor data often for months together to arrive at the root of the problem and take corrective action. To get around this problem, dual keying systems are often adopted in crucial areas so that the precision level is higher than what are set. 

Using specialised software – Data entry has seen a passing phase from manual work to computerisation. Now there is robotic process automation (RPA) software that only does away with the need for constant tracking but also guarantees data entry accuracy. A lot of monitoring activity is taken off by this software which is now increasingly being used by data entry outsourcing agencies to speed up the process.

It is not only data entry accuracy that is promised by the outsourced companies, they also have checks and systems in place that assures high data security benchmarks.

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