The voice transcription industry has undergone rapid changes due to the utilization of voice technology and other such innovative features. It is also playing a critical role in engineering, legal, healthcare, marketing and media industries where you need to transcribe large number of audio files into text format. This means that concern regarding the increasing cost of these services is being witnessed over the past few years. However, outsourcing voice transcription services to offshore locations is becoming increasingly popular owing to the promise of good cost savings in return without compromising the quality of work. The idea is to exchange and specialize by joining hands with transcription company that helps get a better output in the end. The increasing competition and the recent global economic crisis tips the balance in favor of outsourcing to transcribe voice. A detailed account of the reasons that makes voice transcription outsourcing a worthwhile option to consider from economical point of view has been discussed.
Transcribe the Voice through Lower Equipment Expenses and Capital Investment
As soon you decide to outsource the voice recordings, there is no need to purchase and maintain an in-house typing platform and dictation system. You also don’t need to worry about the up gradation of your equipments for transcribe voice. In case you decide to arrange in-house transcription services, then there is an increase of nearly 10% equipment costs annually on capital expense and maintenance of the facility. Moreover, some office space is also taken up for making way for transcription services which is otherwise removed through outsourcing.
Reduction in Cost of Management Overheads When You Transcribe Voice
Management of a voice transcription facility in-house can be a huge overhead in terms of the amount of time that is required for the same. Tasks like allocation of transcription work, management of dictations, managing archive of audios and giving document priority, needs to be handled on one’s own. Less amount of work output in more time means a loss for the one who needs to transcribe which in turn means that it the in-house transcription is proving to be a costly affair. Outsourcing simply reduces all these overheads, increases the time efficiency and ultimately makes the whole process comparatively cheap.
Transcribe Voice for Receiving Economies of Scale Benefits
Firms which transcribe voices, usually handle projects from numerous quarters on a day to day basis. Owing to the amount of work that these outsourcing companies handle, voice transcription of documents is performed in line with the execution of workflow systems that are commercial in nature, setting of workflow practices and maintenance of quality assurance at the same time. All these practices performed by outsourcing firms not only improve quality but at the same time reduce costs. In most of the cases, the cost benefits are also transferred to a customer (in case of a business firm) that reduces the transcription expenses.
Transcribe Your Voice for Cheaper Direct Labor Costs
Direct labor costs comprises of payroll benefits, salaries and payroll taxes when you are hiring voice transcribers as full time workers. This has a cumulative effect in increasing the total expenditure that is incurred in running the company. Outsourcing helps in the removal of a number of such costs. In addition to this, the outsourcing firm has a highly trained and professional staff that has the experience of carrying out voice transcription which ensures a complete accuracy of the final product. More accuracy helps the organization to stay ahead of others when it comes to a competitive advantage point of view, making it a cheaper deal.
It becomes clear that when you decide to transcribe your voice through an outsource firm, the overheads written above are controlled by the vendor company which holds the advantage for the client when it comes to economical terms. Other added benefits such as web-related management of document systems, support for many updated options and features contributes towards making outsourcing voice transcription an important tool so that more time can be delegated to other tasks at hand.