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14 JunBlog

Why Will Outsourcing Your Accounting Operations Save Your Money?

by Saija Rajiv0 Comments

Outsourcing of some of the business’ operations has become a common way of focusing on the more important activities among the organizations. There are hundreds of companies that provide the finest quality of finance and accounting outsourcing services. Outsourcing gives you access to the expertise, guidance and the best technology related to and for your work. Outsourcing is crucial for your business because it allows you to do and concentrate on other core activities, frees your employees and enables them to work on the important projects.

But do you know that outsourcing your accounting operations and other non-important business operations can save your costs too? You might be wondering how. Here are some reasons to prove that.

Low employee costs 
  • Outsourcing your finance and accounting operations can save up to forty per cent of your employee costs. Hiring an employee involves a lot of costs such as salary, infrastructure costs, employee benefits packages, and even insurance costs. With outsourcing, you will just have to pay the outsourcing company which will also be less than the cost you need to pay after hiring the employees for the same purpose. The less it will cost you to recruit new employees, the more you will save and the more money you will invest in the other business operations such as marketing your products. 
Reduces the risk of fraud 
  • Frauds can break the reputation of the company and can negatively impact the business of your company. Employee frauds are very common these days. Outsourcing can help you in easily detecting the frauds in your business (if there are any). This is why you must ensure that all your business operations are done in a completely secure way and by trustworthy persons or organizations. You must go for an experienced and reputed outsourcing accounting, finance or data entry company If you want to get the best quality outsourcing services. 
Lessens the tax burden
  • Outsourcing companies have the best experts for your service. For your finance and accounting outsourcing services, your company will get the best accounting professionals or accountants. Accountants have complete knowledge and know all the tax codes thoroughly. They study all the laws properly and keep them completely informed about the recent tax laws. This will save you money as they will be telling you where the laws are applicable and where there is no need to pay any tax. This saved money can be reinvested in your business. Also, the best part is that you will not have to rush all around when the tax season is there. This is because everything will already be handled and recorded. 
Flexibility and scalability 
  • When there is an urgent need for employees, it becomes hectic and difficult to manage everything and to hire new staff. The selection can take around ten days. Secondly if needed they also have to be trained which wastes the time, efforts and money of your company. But you will not have to face such issues with an outsourcing company. This is because they have ample staff for your work and will easily deploy more people for your task if required.
  • Similarly, if suddenly the workload reduces and you do not require that many employees for the work, you will still have to pay them no matter what. But many outsourcing companies give you the option of paying for the work that is done. They also have various sets of teams and they decrease or increase the number of resources as per their client’s work requirement. Although you will have to inform them beforehand so that everything is done smoothly. 
Peace of mind 
  • While running a business, peace is of mind is even more important than money. Without the right mind space, it can become really difficult to manage the business. With the help of finance and accounting outsourcing services, you can be sure that the financial management of your company is being done without any hassles. You can also outsource data entry work of your company to third parties.

Conclusion :

Hiring an experienced, reputed and trustworthy accounting or data entry company for some of your business operations can be a great investment for your company. Along with cost savings, you will be getting secure and quality services too. If you are looking for an outsourcing company, contact Computyne Outsourcing Redefined. 

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11 JunBlog

Outsourcing Accounting and Finance Operations of Your Company

by Saija Rajiv0 Comments

When certain functions and activities of a business are given to a third-party provider, it is called outsourcing. The most common outsourcing services these days are finance and accounting outsourcing services, data entry outsourcing services, etc. There is a massive increase in the competition in the market among the businesses and to manage the business in a better way, to work on marketing, to concentrate on the important business activities and eventually increase the profits, many companies choose to outsource some of their side functions. 

When should you consider outsourcing the finance and accounting operations to a third party?

There are certain factors that you need to consider before you hire an outsourcing company for your work. Let us discuss a few of them.

Employees 
  • If it getting difficult for your company to handle the staff or employees. Hiring a third party will lead to more focus in your company. Since it can prove to be very expensive to hire new staff, train them, get new equipment and infrastructure, outsourcing can be a perfect option for your company. It will also bring timely financial statements and reports of your company which will let you know the financial position of your company. The best advantage is that it would improve the financial visibility of your organization and will be reflecting the company’s financial activities without the hassle of hiring more and more employees. Also, you will not have to worry about employee leaves and other workplace problems.
Technology
  • Outsourcing companies have access to the most advanced technologies. If you want your work to be done using the updated technology, outsourcing can be great. This is because it is obviously going to be very costly for you to invest in such technology. But you can always find experienced and trustworthy companies that use the best technology and accounting software for providing finance and accounting outsourcing services. With the accounting software, you will easily be able to access the AP and AR aging, outstanding bills, general ledger reports, etc. 
Better Quality of work
  • There is no benefit of paying the employees if they are not able to provide you the right quality of work. Better quality work and a better-quality team that is both professional and trained for their job are not easy to find. Even though accounting and finance are not the core activities of a business, but these activities surely hold a lot of significance. If you are not able to find the right workers for that work, it is better to outsource these operations.
Not having enough numbers
  • Even if you have to pay the outsourcing companies for getting the work done, your company will still be saving a good amount of money as compared to the employees working in-house. This is why if you do not have enough capital or numbers, spending money on outsourcing the work to experienced professionals and asking for help in making the financial decisions will really be beneficial. 
Errors
  • If you have noticed a lot of errors in your accounting work, then it is something that needs to be considered seriously. This is because the person doing your job is not doing it the right way. Even though the errors caused in the accounting work can be solved, it can take a lot of time and is very time-consuming and expensive too. If you outsource data entry and accounting and finance operations of your company, you can be assured of the fact that there will be minimal to no mistakes. The outsourcing companies also provide multiple layers of review. This helps them in detecting maximum errors so that there is a hundred percent accuracy and perfection in the work. 

What factors to look for before hiring an outsourcing company?

Before you hire a data entry company or a finance and accounting outsourcing company, there are a lot of things you need to know and be informed about. 

  • You must know about the company’s profile. It is important to know how long they have been in this business.
  • Try to look for reviews from their clients and companies the outsourcing company has worked for. 
  • Learn about the working of their company and don’t forget to ask how often do they upgrade their work systems. 

Conclusion

A lot of experienced and trustworthy outsourcing companies provide great quality and affordable services. One such company is Computyne Outsourcing Redefined. Contact them for more information.

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08 JunBlog

Factors to Consider Before Outsourcing Data Entry Services

by Saija Rajiv0 Comments

Almost every major company has to work its way through tons of data every day. And managing these data accurately throughout gets tough which is why nowadays you have your data entry outsourcing companies to help you out. These are expert professionals who are specialized in data entry, processing, etc., and therefore takes the burden off your shoulders.

However, as beneficial as outsourcing these tasks is, it does come with an initial challenge. The challenge to figure out which date entry company to go for. With so many options available, it becomes even more crucial to know your needs so that you end up hiring the one that’s perfect for you.

5 Key Factors to Consider Before Data Entry Outsourcing

This is why here we are going to list down a few important factors that you can consider while outsourcing data entry services. These will allow you to make your decision more effectively.

What Services You Need
  • The first and important thing to consider is what services you need. Do you just want to outsource data entry operations or have some other similar tasks also to be taken care of? Tasks such as data processing, invoice processing, and more. Being aware of these things lets you choose a company that can offer all these services to you in one place.
  • It eventually saves the time and effort that you otherwise would spend trying to look for yet another outsourcing service provider. You will save your resources as well if you invest it only once to hire an all-in-one outsourcing company.
Outsourcing Services Prices
  • Whether it is data entry services or any other, finding a cost-effective company is a daunting task today. So, when you are searching for data entry outsourcing companies, look what is the average price of the service that is offered by different companies. After you know the standard price, you can compare the pricing easily.
  • Never forget to consider pricing if you don’t want any further complications. Always remember that the cheapest service isn’t always convenient. You should hire someone with reasonable costs and experience in outsourcing data entry services so that even if you spend a little extra than you planned, it would be worth it.
Data Security
  • One of the most crucial factors of all is data security. Before you outsource data entry services, make sure that you know about the company’s data security protocols. The better data security policies a service offers, the more reliable it becomes.
  • And it sounds just about right. You are trusting that company and their team with your business’s data. Never go ahead with the hiring process until you know about the data security measures the company takes for the security of your business’s important information.
Turnaround Time
  • Time is a key weapon. No matter how much success your business gains, it is nothing without time management. And same is when you hire a data entry company. You must be sure that they are capable of not just getting the job done right but within the limited deadline.
  • The modern-day business world grows and changes every second, and you cannot afford to lack behind at all. Depending on the size of the data entry project you hand over, check their turnaround time so that you know coordinating your outsourcing operations with them will not be a problem as the work goes on.
Credibility and Reviews
  • When you are about to make your decision about a data entry outsourcing company, ask yourself how much you trust them? With so many providers being out there claiming to be the best, how do you know which one to pick? Well, along with the points that are mentioned above, there is one vital factor to consider – reviews.
  • If you are about to hire an experienced service provider, they probably have previous client reviews on their site. By checking those, you can learn more about the company from a client’s perspective. Honest reviews and testimonials will ensure that you know what will get if you go for that particular outsourcing company.

Read More: A Complete Guide on Data Entry Outsourcing

Conclusion

Now that you know what factors to consider when hiring an outsource data entry company, you should start the search. In case, you can’t find one, you can reach out to Computyne. They offer reliable and affordable outsourcing data entry services and more.

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04 JunBlog

Factors to Consider While Hiring an Outsourcing Service Provider

by Saija Rajiv0 Comments

Be it a small business company or a huge business organization, every company will at some point require an outsourcing service provider. Thousands of companies outsource data entry services to work smoothly by focusing on the core activities of their businesses. Some companies outsource a major part of their company’s services to the other third-party service providers, and some just the basic services.

But there are a few factors that must be considered before you make a decision of hiring a third-party service provider. Let us have a look at them: –

7 Key Factors to Consider Before Outsourcing

Reduction in the cost
  • Keeping the business in mind and talking from the business point of view, outsourcing not only needs to improve your business’ working by reducing the workload but also by reducing the operational costs. If you do not see this happening in the future when you consider a particular outsourcing company, there are chances that you might end up spending more than expected.
  • When you look for outsourcing companies, make sure to check if the outsourcing will help you in reducing the amount of your capital that has to be used in hiring the employees for the equipment and training them for the same.
Pricing
  • The most common reason why companies outsource some of their work is that it is cost-effective. You can easily find talented people to work for you at low prices by hiring a third-party provider. Compare the prices offered by the different vendors. Choose the one that provides the highest quality of services at a reasonable price. With a little research, you will come across many companies that offer the best financing and accounting outsourcing services.
Technology and Resources
  • When you plan to outsource, the two most important factors that must always be in mind are technology and resources. Ask the service provider about the technology they have for your work. This will help you in knowing their capability. A third-party service provider should have an office with up-to-date systems, trained and experienced staff.
Capability
  • Completing the work on time is very crucial for a business. It is equally important as the costs. If a vendor fails to meet the deadlines, it might affect your business in a very negative way. It would nullify the benefits that your company might get by saving costs after hiring them. Cost-saving is not the only factor that must be considered before hiring a third party for your work. Make sure that the vendor is capable of providing you good quality services at the right time.
Trustworthiness
  • Never forget to visit the site of the vendor before you sign them for your work. Do a little bit of research about their company, their work, infrastructure, policies and also look for some reviews about their work. This will give you an idea if the vendor is worthy for your company, your work, time, money, and most importantly if it is reliable or not.
Communication
  • The vendor must be available to communicate with you and must always listen to your directions about how the work should be done. A smooth flow of communication is really important between the third-party service provider and your company. There should be no cultural or any other kind of communication barrier. The communication factor is important because it shows if the vendor has understood the work or not, is clear about what needs to be done and how. With smooth communication, any doubts or issues can be discussed quickly without wasting much time.
Service Level of Agreement
  • It will be the most important document when you sign an outsourcing company for your work. Make it a point to clearly state each and everything in detail. This will ensure that there are no confusions in future about the work or any other thing. You can also hire a lawyer for the documentation work while outsourcing the work so that you are safe from all the legal troubles.

Conclusion:

There are many factors that play a role in helping you decide which third-party service provider will be the best for your company. If you want to hire a data entry company or are looking for a trustworthy outsourcing company, contact Computyne Outsourcing Redefined.

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17 FebBlog

How to Improve Data Entry Process – 7 Simple Ways

by Saija Rajiv0 Comments

Database generation is a common occurrence in every business process, and it is essential to keep the data secured for preventing its loss or any manipulation in it.

The data entry process is an indispensable part of organizations which includes feeding all the data into a computer system which ensures its protection and makes sure that the data remains well-organized.

As a business starts to grow, it is natural that the data generation also increases and in no time, it becomes hard to manage all these processes. Therefore, it is necessary to maintain the data entry and process effectively to manage an easy flow of all the processes within the company and offers a smoother experience in handling the complex tasks.

1. Get Rid of Unnecessary Data
  • One of the major data entry process steps is feeding all the crucial information into the computer and saving it for further use, which is a very complex and tedious job. Therefore, one of the essential things to take care of is filtering unwanted data from the important one. This ensures that you enter only useful data. You are required to choose and eliminate the outdated data from the latest one, or simply redesign it to make it practically useful.
2. Data Profiling
  • Data profiling is a significant part of data management, including completing, resurrecting the data and analyzing it for distinctiveness, longevity, and consistency. This process helps spot the issues in the data and find faults in it, to ensure flawless data management. It is an excellent way to gain control over the informational flow, which is great for managing the complicated processes and saves you from the false analysis.
3. A Casual Analysis for Seamless Data Management
  • When it comes to the data entry process, one of the major ways to handle a seamless flow of information that is free of any flaws. Two of the major ways to manage the correctness of data is by using two of these successful methods, which are:
    • Cluster analysis for errors: Looking for the set of errors in the data is an intelligent way to eliminate the flaws in the existing database.
    •  Inspect the data events: Another way is by analyzing the location of the events of data creation and amendments, which helps understand the primary cause of the errors.
4. Data Defect Prevention
  • This is another significant part of handling data entry and process since it helps prevent faulty data entry into the system. This is one of the most successful ways which offers scope to let you improve the quality of data. It includes spotting faulty data, creating forms that conform to the provided data, and a flaw in the data then requesting for feeding the correct information.
5. Standardizing the Entire Process
  • Another one of the significant data entry process steps is standardizing the process, which improves the accuracy levels and maintains the consistency and compliance of the database. It is also helpful in managing the complex processes within a short time span.
6. Automatic Process, Reduced Efforts
  • When it comes to data entry and capture, handling it through manual help is not just time taking but also a tedious job in itself. One of the major reasons which makes it a less desirable option is that there is no guarantee of the consistency of the data, it could be incomplete, and there could be several such issues.
  • The best way to maintain the quality of data is by using the automatic ways to handle the complex data through a dedicated set of machines that are made especially to make this difficult task a lot easier. Introducing automated ways in the data entry process serves as a practical way to manage it while also reducing the chances of errors in the data.
  • This is also an excellent way to minimize the operational costs by using technologically advanced ways and letting the machines do all the job, flawlessly. There is no need to hire a manual data processing expert.
7. Track the Process and Incorporate Feedback for Positive Results
  • It is vital to track the performance in several practical ways which work significantly by providing you with an insight into the data entry and process that lets you access the track record of any positive effect of the changes.
  • It is also helpful for avoiding the recurrence of any mistake that was previously detected in the database. When powered by a feedback system that provides a positive, in-depth analysis of the data and enables you to make necessary changes. This means it is important for companies to use intelligent ways for finding the flaws in the data, which gives you a clear idea of what is lacking and what improvements are required. The positive feedback is helpful in correcting the designs of forms and enhancing the overall process.
  • All of the above mentioned data entry process steps are very helpful in improving the functionality and offering a well-organized system. It also lets you focus on the core business values, which ultimately results in higher levels of productivity and overall improved growth.
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10 FebBlog

Data Entry Services a Boon for Corporates

by Saija Rajiv0 Comments

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.

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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.

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