Form Processing Services – Key Benefits
As shocking as it may sound, some businesses still receive handwritten forms that later need to be converted into spreadsheets and other digital formats. Handwritten and paper forms take a toll on business resources that have to continuously manage, process, and index enormous volumes of data. This highly labor-intensive work demands a significant amount of resources, time, and capital.
But it doesn’t have to be that way. Many companies choose to outsource form processing to a third-party BPO company that provides high-quality services at a fraction of an in-house endeavor. It’s no surprise that the global BPO outsourcing market size has moved beyond $232 billion in 2020. BPO companies offer the ability to offload non-core tasks to teams of specialized resources that can be scaled up or down at a moment’s notice and without onboarding and ongoing HR headaches.
Despite the myriad benefits, many businesses are still on the fence about the whole idea of outsourcing even menial tasks. This should be an easy decision so we’ve decided to list the key benefits of form processing services, as follows:
1. Outsourcing Saves Money
That’s probably the number one reason on anyone’s list. If you decide to handle form processing requirements in-house, you have to set up a team of skilled individuals who won’t come cheap, train that team and watch over them every step of the way. Even if you hire beginners and start from scratch, there are still upfront investments in the form of workstations, physical workspace, and other costs that quickly add up when you’re talking about adding even part-time resources. At a time when many companies are drastically down-sizing their physical footprint and office space (especially due to the pandemic), what sense does it make to increase your monthly spending in this manner?
On the other hand, you can pay a fraction of that cost to hire a BPO provider and have them process order forms, purchase/sales orders, and questionnaires, surveys, etc. You won’t need to incur any costs associated with form processing like workstations and software.. In addition, there’s no need to hire a team to overlook the form processing operation.
2. Saves Time
Let’s face it, there’s a vast expanse of data far beyond your company’s time, skills, and infrastructure to process. Your personnel already have their hands full with other responsibilities and simply don’t have the free time to process the forms in time.
However, a reliable provider like 247Digitize already has the strength, facility, and staff needed to process legal forms, order forms, health, and insurance claims, as well as other forms/documents at record speed. You don’t need to hire extra staff or purchase additional equipment, and most importantly, you don’t need to shift focus from your core business.
3. Focusing on Core Business
The core business is an aspect of your operation that consistently generates revenue. For example, if you’re a game or a software development company, you make money by creating games, apps, etc. However, you can’t be laser-focused on the all-important field when you have to deal with hundreds, if not thousands, of forms and documents. You’re effectively spending money, time, and focus that could’ve been spent on revenue generation.
There is a better way. You don’t have to recruit an extra workforce, set up specialized infrastructure, or split your team’s attention. Instead, you can outsource the entire task to a third-party provider like 247Digitize and let them process all the questionnaires, surveys, and other forms for you.
4. NO MORE FATAL MISTAKES
Dealing with vast amounts of paperwork requires such care and precision to make the effort worthwhile. It is probably well beyond your company’s means and resources, especially if you’re short on staff to effectively handle forms processing manually. Unfortunately, some of these mistakes could lead to serious errors that can be grounds for litigation. For example, a slight error in processing medical records might change the course of a patient’s treatment, which could build up as a case of malpractice. Consequently, in addition to the high costs of an in-house operation, you’ll be stuck with a hefty legal fee.
By outsourcing form indexing and processing to a third-party provider, you’re entrusting sensitive documents such as medical records, medical claim forms, and security certifications to a highly specialized team with the requisite expertise/experience to prevent any major mishaps.
5. RECEIVING PREMIUM QUALITY
You may not trust your documents with a third-party provider and decide to do it in-house. But, there’s one problem: Using the previous example, your staff mainly specializes in in-house or software development because that’s where the money is. You’ll have no choice but to recruit a new team with form processing/indexing skillsets or spend more money on retraining a part of your existing workforce. As if you don’t have enough to worry about already!
You won’t have that problem with an expert BPO firm since form processing and indexing are their core business. Their team of experts is solely focused on processing survey/registration forms and providing any other services tailored to your operation. Plus, they have a wealth of experience at your disposal for a relatively low price.
With the incredible pace and progress of technology and the demands for keeping up with your competitors, outsourcing document indexing/processing isn’t a luxury anymore. It’s a necessity. A wiser investment is to hire a trusted provider like 247Digitize to help you focus all your efforts on money-generating aspects of your business, expand your market share, and maximize revenues/profits. Please contact us and let our team of experts take this burden off your shoulders.