5 Major Reasons Why You Should Invest in Transcription Services

Transcription, the process of turning recorded audio or video files into written documents, is something that has been gaining immense popularity in recent years. Transcription services are effective ways of maintaining valuable documents in an organized manner. Businesses need to properly keep their business records and professional transcription service providers can help them in attaining that objective.

However, it is common for people to hesitate to invest in transcription services due to various reasons. Fortunately, this post will discuss five major reasons why investing in these services could be beneficial to your business.

1. Transcription saves you time and money

As a business, operating an internal transcription department can be a time-intensive and expensive exercise. The costs of staffing alone can impact the profitability of the business once the salaries and the ancillary costs are taken into account. Yet, this is without including the overall cost of transcription software and hardware. Therefore, it is cheaper and more convenient to pay for a reliable transcription service either on an ad-hoc basis or an ongoing basis.

Furthermore, when a business invests in outsourced transcription, it enables the managers to concentrate on the core activities of their business such as sales and marketing, products and services, and enhancing customer relationships. By delegating their transcription responsibilities to an external service provider, a business can save time and money by only paying for the services they require, as and when they are required.

2. Transcription offers flexibility to handle a sudden work influx

The transcription needs for a company will ebb and flow, and sometimes it can generate huge volumes of work that could be hard for dedicated transcription employees to handle. When these volumes drop significantly, it can result in the underutilization of the employees. That is where transcription service providers come in since transcriptionists who are hired on an as-needs basis can cope with variable demand and workflow.

3. Transcription offers professional results and short turn-around times

The majority of transcription service providers guarantee a swift turn-around time usually less than 24 hours. The transcripts that are delivered to the company will be accurate, consistent, and well-formatted, having been transcribed by skilled professionals who are experienced in the English language, word processing, and other handy skills that are expected of a transcriptionist. When you outsource your transcription function, your business will benefit from a wider scope of experience for a lesser amount of money than you would otherwise have to pay.

4. Transcription offers impartiality and objectivity

Transcripts that are generated by an expert transcription service provider are more likely to be considered by a third party as impartial and more professional as compared to those generated in-house. The reason here is that it is less likely for an outsourced transcription service provider to be affected by listener bias. Listener bias is where a person subconsciously hears only what they expect or want to hear. Independent transcription comes in handy especially in cases where the entity commissioning the transcription can be seen to benefit from particular content or have a subjective interest. Objectivity is invaluable to all businesses but is even more crucial for particular industries like the legal domain.

5. Transcription helps to expand the things that you transcribe

To a busy organization, outsourcing their transcription function to an external service provider can enable them to transcribe an even wider scope of material such as:

  • Corporate minutes and meetings
  • Web conferences
  • Videos that can be turned into blogs and articles for your business website
  • Seminars and client webinars
  • Internal training presentations and sessions
  • Business calls with colleagues and clients
  • Market research calls

By transcribing these items, it will help your business to further promote your material and increase your website’s visibility through Search Engine Optimization (SEO). It can also help your employees to review their training sessions in more depth, your business clients to absorb crucial information in text format, and your business to make better decisions according to recorded content from business calls, conferences, market research, and phone interviews. By doing so, managers will not have to depend on recalling the important things that were discussed verbally.

Wrapping it Up

Transcription helps to save your business time, money, and effort. It also allows managers more time to concentrate on the core activities of the business. Outsourcing this function offers your business accurate, professional, and well-formatted transcripts of crucial meetings, interviews, and other material, at a smaller percentage of the cost of hiring in-house employees. Outsourcing transcription means that it can be commissioned flexibly or canceled even on short notice, without any negative consequences to your business.