The IT revolution has resulted in an increase in data value. Many CEOs and CTOs view information as a fresh driving force to shape their company’s fortunes.
The IT revolution has resulted in an increase in data value. Many CEOs and CTOs view information as a fresh driving force to shape their company’s fortunes. Gradually, we are seeing an increase in investment in new AI-based techniques that promise to leverage information for many instances of company use. However, despite their efforts, many companies are unable to take advantage of the real benefits of information. Surprisingly, not because of their lack of effort, but because of their failure to recognize the correct data entry techniques.
Why is an underestimated data entry made by companies the biggest mistake?
The biggest issue with data entry is that many entrepreneurs consider it a simple task. Most company owners believe that information can be searched and entered into a database by just anyone who is someone. Although this strategy and thinking about data entry might have worked in the past, in the current times it is packed with risks. Below are some of the clear and present dangers of inaccurate data entry that can cause significant harm to your business prospects:
- Compliance-related risks – Each sector has a legislative body responsible for compliance, so that companies operating in the sector comply with certain laws and regulations. These legislative bodies may, at any time, ask you to provide information on your company’s activities. If your information is incorrect and creates a discrepancy when it is consistent with the established norms, then you risk the wrath of the legislative body. Due to an inefficient data entry team, Erring companies have incurred significant penalties and face proceedings.
- Data security risks – It is simply impossible for companies that store business-critical customer information to compromise their integrity at any price. If all members of the data entry team have unrestricted access to all data types, it is highly likely that they will be able to use it for the benefit of the company. For example, if bank account data or email addresses are made easily accessible to new members (who can not be trusted), they are likely to use the information for their own benefit. Access to information on the basis of staff qualifications is therefore essential.
By partnering with a data entry service provider, eliminate threats and exploit data
Outsourcing data entry duties to a competent data entry service provider may be your first and final step in eliminating data-related threats and leveraging data. However, this step can only be rewarding for your company if you have the following information entry service provider qualifications:
- Access to automation tools – Manual data entry is not only inefficient, it also leads to errors. An automation tool can make this work simpler and also provide additional functionalities. Providers of data entry services that use automated technologies such as smart character recognition, optical character recognition and optical mark recognition enable you to extract information from documents that can not be easily accessed through popular computer tools.
- Authentication for data access – By authenticating data access to every employee involved in data entry, it is possible to reduce the risk of unrestricted data access.
- Data security with encryption – An outsourcing vendor should have sound security encryption measures in place to ward off the threat of hackers.
We, at Noidaexim, are a data entry services provider and use automation in our data entry process. Apart from data entry services, we also provide call center outsourcing services to support all your business endeavors.
