Did you know that 1 out of 2 businesses fails due to poor data management?
As a result, 70% of companies are investing more time, effort, and money to better manage data entry processing. Occasionally, in the conversion of important information, precise skills are required, which is why data entry tasks are often outsourced to a third party with skilled professionals. 24% of all small businesses choose to outsource to enhance their efficiency, and 65% of companies that have outsourced earlier are very likely to continue outsourcing.
4 key facts about the Data Entry Outsourcing Industry
- Research report analysts have predicted that the Data-entry Outsourcing Services market will register a CAGR of almost 5 percent by 2023. The market size will grow by USD 351.84 million during 2019-2023.
- According to a Deloitte survey, the top factors that encourage companies to outsource are: reduced costs (59 percent), better focus on core activities (57 percent), improved service (31 percent), and access to expertise and better knowledge (28 percent).
- Specifically in cost benefits regards, Outsourcing Data Entry Projects help reduce operating costs by 40 percent, increase in profitability by 4 percent, and incur overhead costs by zero percent.
- Most Data Entry Services providers are fully compliant with international cyber security standards, such as ISO, HIPAA, and GDPR to safeguard data and enable their clients to perform regular audits of all data security measures and technology.
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(Jan 2019). Research report analysts have predicted that the Data-entry Outsourcing Services market will register a CAGR of almost 5 percent by 2023. Reportlinker. https://www.reportlinker.com/p05729126/Global-Data-entry-Outsourcing-Services-Market-Analysis-Size-Growth-Trends-and-Forecast.html
(Apr 22, 2022). The top factors that encourage companies to outsource. Yahoo Finance. https://finance.yahoo.com/news/reasons-why-more-companies-outsource-110500131.html