Category: Blog

Outsource Invoice and Receipts Processing for an Efficient Account Management

An invoice or a receipt is a business record issued by a merchant to a purchaser that has sold a service or item to another organization. It’s the most widely recognized document that organizations commonly issue after the exchange occurred yet before the payment. The data contained on the receipt can differ depending on the necessities of the merchant, the sort of transaction, and preferences of the purchasing organization.

One of the issues with invoices and receipts, especially paper invoices, is that they don’t generally come in the same format. Invoice processing is a useful mean to manage information and data. It is observed as a basic errand for the advancement of any business. There are distinctive sorts of data like handwritten documents, spreadsheets, and so on.

Most of the organizations outsource these assignments to offshore document processing companies; that is specialized in bulk invoice and receipt processing. With a consistent help from an outsourcing data processing firm, one can indulge in the core and main capabilities of their organization, while they work on these daily tasks.

Why are invoices and receipts important in a business?

Digitizing and processing information is significant nowadays. Digitizing information through manual document processing or programmed process enhances operational efficiencies. In each business, their data is kept up in the forms of records, documents, and databases. It requires a trained professional who is productive to deal with every sort of documents.

Invoice processing includes keeping up information identifying with data like names of customers or providers, due date; amount to be paid and so on. You have to deal with the exactness of invoice information when you incorporate them into the digitized format. Invoice and receipts processing is need of every day, and the volume of data continues mounting, as your business grows.

  • Sorting out the invoices and receipts data encourages your accounts team to contemplate vital measurements about your transactions and execution in the business.
  • Invoice and receipt data processing are one of the basic assignments of your accounts department. Using this information, organizations produce their finance-related reports.
  • The leading organizations offering invoice processing services keep your finance related database refreshed with precise information about your bills and receipts.

What does invoice and receipt processing include?

  • Invoice and receipt data processing includes an extensive variety of services. From incorporating transaction information into your database to producing e-invoice receipts, you can look for an assortment of services from your collaborating firm.
  • The data processing specialists likewise check invoices and purchase orders tickets and produce receipts of invoices from suppliers.

Looking for an outsourcing partner to avoid invoice processing errors?

Benefits of Outsourcing Invoice Processing Services

  • Helps in focusing on main activities – Outsourcing encourages you to focus on your core business. Creating a setup for invoice processing will cost you a ton of time. In any case, when you outsource this activity you spare that time, which can be utilized to focus around your main competencies.
  • Access to trained professionals and the latest technology – By utilizing the outsourcing choice, a business firm can gain the benefit of trained professionals and the most recent innovation without enlisting or buy them.
  • Monitoring invoice processing on a real-time basis – Another big benefit of outsourcing invoice processing is that you get the opportunity to keep a track on the whole task in a real time. This implies you can get any information identified with a specific receipt whenever you need.
  • Saves money and improves cash flow – It spares you a ton of profitable time and monetary assets. Quicker invoice processing gives you the latest information about where your cash is. You’ll get the access to more exact reports and more comprehensive data than is conceivable with a paper-based system.

Outsource your invoice and receipt data processing services to a respectable organization to use the functional effectiveness of your accounts department.

Read More

Is it Good or Bad to Outsource your Data Processing Needs?

Outsourcing is a great tool that can be used to improve the data workflow. If you want to discover how to use it to your benefit, you’re at the right place. We’ll tell you about both positive and negative sides of this tool and its influence on your business.

The best thing you can do with your business is using the data outsourcing services to lower your costs. If you spend less and make more, you will gain a higher profit. Just calculate how much money and time you will have to spend on starting a new team, their training, etc. You will get the profit only in a few months.

Why Outsourcing is Good?

Data Outsourcing is good for small companies as using the outsourced services from outside the U.S. will decrease the expenses. You can provide people from the developing countries with a job and get a profit from spending a little money on their work.

Why is data outsourcing good for big businesses? You can lower the price of your products and services and attract more and more clients increasing your profit in such a way.

One of the positive effects of outsourcing is that you don’t have to pay taxes. So, you spend less money. Freelancers that will work for you will be hired by the agency and not by you so that you won’t deal with any bureaucratic aspects of your cooperation.

Here are 5 top reasons why to outsource data processing is good:
  • It lowers your costs
  • You can hire specialists from another country
  • You can use it in any niche of the market
  • You avoid all bureaucratic aspects
  • You can hire one person or a group of experts

Looking for an outsourcing partner to avoid data processing errors?

Are there Negative Effects of Data Processing Outsourcing?

There’s hardly a thing in this world that can be only good with no negative sides. Is outsourcing good or bad for your business? The answer may seem to be obvious. However, you will never know until you try it. Of course, we’ll warn you about some aspects.

Here are some negative effects of outsourcing:
  • You cannot affect the mood and moral state of the employees
  • Your cooperation won’t be so flexible as with the staff in your office
  • You may feel uncomfortable during the first few days

These items are not always true for all business spheres. To avoid any negative effects, it’s better to predict them and find the solutions to solve any problems in advance.

Just provide the job for one or several employees outside your office and see the result. You’re likely to save about 30% of your costs during the first three months.

Take the first step and define a monthly budget for the first team that you will outsource. Just try using this method of cooperation to evaluate its best sides. It’s a good chance to make your business more profitable.

You lose nothing. You don’t have to hire or fire anyone. Just provide the instruction and see the first results during the first month.

Read More

How Data Cleansing add Value to Customer Data

It is essential for companies to have a simplified database, both for confirming effective contact with their clients and preserving agreement standards. Data cleansing is the method of correcting inaccurate data within the database.

It refers to recognizing the inaccurate data and then modifying it properly. With reference to client database, data cleansing is the process of keeping reliable and precise database through removal of inaccurate data.

Importance Of Data Cleansing

The decisive goal of data cleansing and maintaining a clean database is to duplicating multiple records and creating one with all relevant data. This process of data cleansing and maintaining clean client database offers various benefits to business, including:

  • A clean database can provide more precise prospect information which helps to better sales targeting and management.
  • Data cleansing helps to remove invalid emails and can save on mailing costs.
  • Easily group and filter data for segmenting your database.
  • Improve the efficiency of customer acquisition.
  • Enhance the email deliverability rate

Though, sustaining a clean client database is a difficult task. Further, many companies, based on different criteria (email-list, prospect list, purchase history) have various databases. A few steps that can help in combining the client data maintain clean database are as below:

Looking for an outsourcing partner to avoid data cleansing errors?

Procedure To Cleanse Data:

1. Data Audit:

  • The principal step to data cleansing, is the thorough auditing of all customer databases. The reviewing should be done using statistical and database methods to detect inconsistencies and inaccuracies. The information should be used to infer characteristics and location of inconsistencies, which can lead to root cause of the problem.

2. Merge Data:

  • The process of cleansing the database should not be restricted to just the recognizing and removal of inaccurate data from client database. It should be used as a prospect to combine customer data and other information like email ids, phone numbers or additional contacts should be combined whenever possible.

3. Feedback:

  • The business should launch a control mechanism where any erroneous data gets reported and gets updated into database. For instance, there should be a control and feedback mechanism for emails and any email which is undelivered owing to an incorrect address, should be reported and the invalid email address cleansed from the customer data.

4. Use Various Methods:

  • The process of auditing of a database should not be restricted to analysis through statistical or database methods and further steps like buying external data and comparing it against internal data can be used. Moreover, if a business has restraints of time and employees, it can use the services of external company. However, in this approach, the business needs to be careful with respect to their brand image and the way of working of external company.

Data cleansing is a difficult yet critical process and needs devotion of dedicated time and resources. The processes stated above would certainly help in the making of a clean database which deals several benefits across functions and serves as a critical factor in the growth of business. Hence, businesses should make investment in data cleansing and data management a top priority.

Read More

Why is Data Collection Important for Your Business Insights?

Quality data is an essential factor for each business process, market entrance, client relationship, business investment, and for all goals and purposes for better decision making across all levels of the organization. Along these lines, associations need to invest into solidifying their master data resources.

Effective business pioneers have consistently depended on some type of data to enable them to decide. Data collection used to include manual data gathering, for example, conversing with clients up close and personal or taking overviews by means of telephone, mail, or face to face. Whatever the procedure, the businesses needs to comprehend their clients and market better by doing data collection manually. Because of the cost, time, trouble of execution, numerous organizations worked with inadequate data.

Indeed, even startup companies also produce data. Every company which has a social or online presence, a website, etc. has data about their clients, user experience and many more, actually all that data is full of potential and can be used to enhance your company’s decisions if you know how to utilize it.

Whether you had an under-performing marketing drive or your sales are not good from last few months, how would you identify what turned out badly or was not as effective? Trying to discover the purpose behind under performance without data resembles attempting to hit the bulls eye on a dartboard with your eyes shut.

Benefits of Data Collection

Today, gathering data to assist you to better comprehend your clients and markets is simple. Here are a few major reasons of using data collection that can benefit any company.

  • Assists you understand performance
  • Helps you to identify and resolve problems
  • Quality data make better resolutions
  • Helps you improve processes
  • Aids you to know consumers and therefore the market

How Data Collection Help Business

Have you at any point considered how your employees, division, organization, marketing campaigns, customer service, shipping, or other parts of your organization are doing? Gathering and inspecting data can demonstrate to you the execution of this and that’s only the tip of the iceberg.

In case you don’t know about the performance of your team or your marketing, in what capacity will you know whether your money is being put to great utilize, or then again if it’s acquiring more money than you devote?

Even small to medium businesses can have the same benefits as larger organizations when using data the right way. Businesses can harness data to:

  • Find new clients
  • Increase customer retention
  • Enhance client service
  • Better oversee marketing efforts
  • Track web-based social networking interaction
  • Foresee sales patterns

Data encourages you to comprehend and enhance business processes so you can diminish wasted money and time. Each organization feels the impacts of waste. It goes through assets that could be better spent on different things, and at last affects your main target.

Today, maintaining your business with the assistance of data is the new standard. In case you’re not utilizing data to direct your business into the future, you will end up being a business of the past. Luckily, the advances in data preparing and representation make developing your business with data simpler to do. To just visualize your data and get the insights you have to push your organization into the future, you need Computyne’s data collection services.

Looking for a data collection outsourcing partner?

Why Outsource Data Collection to Computyne?

Computyne is focused on giving arrangements and taking care of data collection problems. Computyne’s data services abilities, combined with the best state of the art ways to deal with the data, are an answer that will spare your time and funds. There are endless stories of clients who have utilized Computyne to make that effectiveness, straightforwardness, and responsibility said prior.

Braced with profound industry learning and aptitude in overseeing data through its whole life-cycle, combined with extensive administration offerings and demonstrated reputation, Computyne conveys business value to a many of world’s driving organizations, helping them proficiently use their data in key business decisions and processes.

Read More

The Benefits of Hiring a Virtual Office Assistant

If you’re lacking time and have more work to deal on a regular basis, which is taking back you and your business progress, then you must opt for hiring a Virtual Assistant.

A virtual assistant offers numerous services to businesses from their remote location. A virtual assistant can do nearly anything as per your requirements.

  • Virtual Email and Live Chat Support
  • Data Collection Assistance
  • eCommerce Support Assistance
  • Calendar Management Assistance
  • Virtual Administrative Assistant
  • Virtual Data Entry Assistance
  • Internet Research Assistance
  • Project Management Assistance

What are the benefits of having a virtual assistant?

If you are thinking of hiring a Virtual Assistant and not sure about the benefits of it, then this article can help you out. We’ve gathered 5 of the most convincing advantages of hiring a Virtual Assistant.

Below are the top 5 advantages of having a virtual assistant on board.

1. Reduce Operating Cost

  • Hiring a virtual assistant, you don’t have to bother for taxes, holiday leaves and other benefits that you generally have to provide to a full-time employee.
  • You don’t have to pay for the overtime to a virtual assistant as you do when you hire an employee in your office.

2. Saves Time

  • It’s always a lengthy and laborious task to hire the right candidate for your needs, as first, you have advertised that you are hiring. Afterwards, you have to wait for getting the applications and then selecting the best candidate after multiple levels of interviews.
  • When you hire a virtual assistant you don’t need to spend time and money for training them as they are proficient in their fields, only need to have short training with one time instructions so they can have a better idea of your requirements.

3. Increase efficiency

  • Virtual Assistants can work remotely from their workplace, providing support to their clients.
  • By hiring a virtual assistant for your non-core tasks, one can save their precious time on focusing on their decision making business activities.

4. Improved scalability

  • Virtual assistants can help you to scale up your operation anytime as you can hire them at any point in your business scale.
  • In case of less work or scale down at any time, you can relieve the hired virtual assistant, while it’s not feasible to do with your in-house employee.

5. Improved work quality

  • From checking emails to managing calendars and answering phones, a virtual assistant can help to save your valuable time.
  • You can be more productive and dedicate the time to growing your business and doing the marketing activities for the same.

Conclusion

In conclusion, virtual assistants if engaged wisely to your non-core tasks, can be a huge profit to your business. They help you to reduce processing costs, and there is no risk of hiring new virtual assistants at any moment when there is any surge in work, you can also end the contract at the times of less work without dealing with any legal problem. As a business owner, the main thing to your success is to have a team that is flexible and supports you, and a virtual assistant can help you in that.

Read More

What is Data Enrichment and What are The Various Benefits?

Data enrichment is a handy tool that can add value in improving the quality of the organization’s data. It is best described as the process of enriching data as a set of method and structures for refining and better value from the data.

One of the roles of enriching the data is to make it a more valuable asset. It means that the data can be used to get more information out of it so that you can make it more useful for the organization without incurring too much cost.

How Does It Work?

Any organization has its goals to add value to the data. But many tools that are used for the purpose are universal in their refinement process. Whether it is ensuring the accuracy of the logs, or adding new data to the tables, or correcting the typographic or spelling errors, these tools can improve the quality of the data on various fronts. So no matter what your plan is you can make use of the right tools to enrich the data.

What are the benefits Of data enrichment?

There are many benefits of the same. Let’s start taking a look at them one by one.

1. It ensures accuracy of algorithms

  • The organizations keep on changing the data-system, it can result in a bad decision making in the long run. A data-enrichment process ensures that the algorithms are more accurate and the decision making is better.

2. Accuracy of data

  • It eliminates the irrelevant and the outdated facts which will help you in making the right decisions which are the very health of the organization.

3. Recurring entries are taken care of

  • It also takes care of the duplicate entries and updates them on the files. When you find these recurring entries, you can well decide whether it will be good to eliminate them or not.

Don’t let bad data impact your business. Fix your data quality issues now!

What are the key steps?

With the help of few simple steps, data enrichment can be implemented within your organization. The first step is to do the quality assessment of all the data with the content management systems. It is important the assessment methodologies cover the essential areas of the integrity, consistency, and completeness. It the #data can’t remove these four areas it might need to be repaired or you can get rid of it altogether. Your strategies go a long way in resolving the issues in your data structure and will make the difference in this initial assessment process.

Once this step is complete, it will be necessary to determine the best way to enrich the unique data in the organization. This process is unique for each organization. Experts suggest that the data enrichment should start by cultivating an original outline for the need of the organization. It must be followed by necessary research to ensure the effective strategy by locating data from various other sources and checking it for the quality before implementation.

Read More

How Data Processing is Helping Businesses Grow?

In today’s dynamic business scene, operating effectively needs for consistent advancement. Business development frames a key component of this advancement. For extension prospects, it is required to have a top to bottom knowledge of one’s industry in general and close rivals specifically. What’s more, organizations additionally need a reasonable learning of important insights like preceding year’s benefit, assets assigned to various departments of the business etc.

To know about exceedingly significant statistics, it is vital for associations to have a database. Keeping up an appropriate database includes data extraction from countless handwritten records, forms, invoices, and so forth. This often makes it a tedious undertaking. On the off chance, if you feel that keeping up records takes excessively profitable time of your workforce which could be utilized for other vital business exercises, online data processing organizations can facilitate this undertaking for you.

The act of outsourcing data processing jobs, for example, data entry, data processing, and data cleansing are accepted by companies globally due to the complications of executing these tasks inside in the company.

Difficulties that Organizations Look by Executing Data Processing In-House

Performing particular errands on a set of information or on a database is needed while doing data processing. Data processing is the task of arranging information from different sources. For an organization or a business, this undertaking is to a great degree significant as it creates sorted out data that is straightforward.

Organizations choose to utilize electronic techniques for data processing to enhance the preciseness of data set as manual handling is extremely time taking. For various organization verticals like healthcare, transportation, food & beverage, banking, and education etc. the significance of data processing is essential as they need to take care of enormous quantity of data on daily basis.

  • Indulging your employees’ time in data processing tasks
  • Unable to focus on the company’s main affairs
  • Increase in expenses due to the in-house team’s set-up & training
  • No affirmation of precision and achievement of turnaround time
  • The inflexibility of execution in sudden need of ramping up the team
Sorts of Data Processing Tasks that can be Outsourced
  • Invoice Processing
  • Resume Processing/Formatting
  • Order Processing
  • Database Management
  • Survey and Form Processing
  • Mailing List Compilation
  • Data Cleansing and Enrichment

Looking for an outsourcing partner to avoid data processing errors?

Data Processing Services are Very Important Due to Below Benefits

1. Better Execution & Cost Reduction

  • Easiness of generating statistical reports helps the employees to better execute their work and increase their efficiency with less work. The cost of digitized handling is substantially lesser than that of overseeing and keeping up paper archives, thus the companies are able to spare huge of money by just opting for data processing.

2. Precision and Speed

  • A large number of documents can be handled in less time as digitization makes the work of processing the data rapidly. The data processing framework itself checks and deals with any data errors or mistakes. Such procedures, therefore enable organizations to guarantee a high precision in data administration.

3. The Simplicity of Making Reports

  • With the help of processed data, professionals can easily prepare statistical reports so it helps in taking the right decisions to achieve the goals and to have quick analysis.

4. Less Paperwork

  • Data processing minimizes the use of paper and supports organization their paper management as most of the data is accessible in digitalized form, and that’s why it’s one of the main benefits of data processing.

5. Best Solution for Start-ups

  • Start-ups can outsource their non-core parts of their work so that they can save important man-hours and funds to improve their core decisions and their service strategies. In this way, data processing empowers SMEs and start-ups to save their time and money proficiently.
Read More

Data Entry Services a Boon for Corporates

Data entry services these days play a foremost role by serving nearly every business in completing tasks much quicker, it also empowers them for organizing data in an enhanced way with greater quality. When companies initially started data entry it took away a lot of their time which almost hindered the growth of many companies.

When companies invest on hiring an in-house team it took away a lot of their time and investment which almost hold back their growth. Manually entering and converting data requires an in-house team to invest a major amount of time into their daily schedule.

Hiring a team entirely for data entry is a big distress as the return on money invested made on such divisions are actually none and the total expenses on such an in-house team are comparatively very high.

So what is the way out for such circumstances?

Data is what every company relates to and works on; every division requires data organized to see the developments or to do their research and further tasks, this is where the idea of data entry outsourcing comes into the picture.

How an organization selects to outsource is a subject to the nature of industry the company works, as data entry services can be outsourced offshore as well as within the country itself.

An offshore data entry service is moderately economical and the competition is pretty high between data entry service providers in India. Higher the competitions better it is for a client as they get a chance to choose from a good number of data entry companies in India, every client can filter companies on the basis of their budget, turnaround time and the quality of work.

Get affordable and accurate data entry services

What do you get when you outsource?

Different types of data entry services are handled by the data entry providers. Among them includes data conversion, data processing, image processing, image editing and enhancement, and photo manipulation services.

Some of the examples of data processing services are as forms processing, check processing, data cleaning and mining, OCR clean up, and insurance claim processing.

Data entry providers also perform data conversion services such as XML conversion, CAD conversion, HTML conversion, PDF conversion, book conversion, and catalog conversion. Both online and offline data capture services are offered.

Depending on the requirement of the client, the final outputs are provided on a number of formats. Some of the typical formats include database format, word document form, text format, Excel, HTML format, binary or ASCII.

Read More