Tag Archives: Outsourcing

5 Reasons Why Outsourcing Medical Transcription Can Be Beneficial to your Hospital

Posted on October 16, 2015

Outsourcing medical transcription is the best way to do more with less time, resources and money.

The medical industry is going through a challenging phase of short deadlines, large amounts of information, strict compliance regulations and tight budgets. Managing medical transcription in-house can be expensive in more than one way. This is where outsourcing can help.

Take a few minutes to read five reasons why it can help you to outsource medical transcription now and in the long run.

1. Eliminate capital investment

By outsourcing, your hospital need not invest in a typing platform or buy a dictation system. You will also not have to keep upgrading to the latest equipment. All your capital expenditures will be reduced as you no longer own or maintain any dictation or transcription devices. This would help you make huge savings on an annual basis.

2. Effective management of staff shortage or increased dictation volume

Report volume and staffing is something that cannot be controlled. These variables can fluctuate without prior warning. Such challenges can negatively affect your budget and put a stop to your transcription process. However, outsourcing, especially during times of overflow can help your hospital effectively manage the increase in report volume or the shortage in staffing, without it having any repercussions on your workflow, turnaround time, compliance or quality.

3. Minimized management expenses

In-house medical transcription can be a costly affair. Right from routing to transcription, dictation and archiving, medical transcription can steal your money and time. Through outsourcing, you will be free to focus on more important issues and leave the demands of medical transcription in the hands of the service provider. Outsourcing also eliminates the need for robust in-house staffing which can bring in additional cost savings for your hospital. Continue reading

Five Causes of Outsourcing Failures

Five Causes of Outsourcing Failures

Posted on October 5, 2015

What causes an outsourcing project to fail? Lack of communication, high expectations, negative public opinion, poor quality and lack of communication are reasons why an outsourced project can fail.

With the growth of every company, comes the increasing need for assistance in variety of areas, such as, IT support, customer care or production. While some enterprises will choose to recruit new employees to handle the increase in the workload, other companies will choose to outsource the extra work to external service providers. Outsourcing is indeed an effective way to meet the increase in labor needs, while maintaining low costs.

However, outsourcing can sometimes result in failure, due to a several underlying risks.
What are these risks? And how can your enterprise conquer them? Here is a list of the some of the risks that cause an outsourced project to fail:

1.High expectations

Outsourcing is synonymous with increased profitability and reduced costs. In addition, service providers may overstate their competencies and the advantages of opting for their services, in order to win a contract. This can make a business overestimate the benefits that come with outsourcing. Having high expectations can make an enterprise outsource work that should best be managed by in-house employees.  Instead of keeping your expectations high even before you outsource, you can request for a free trial project. This will give you a clear picture of the abilities of the service provider.

2. Lack of Communication

If the service provider does not understand what they are supposed to accomplish in the project, the work will not be completed as per your expectations. For instance, if your business outsources the development of a product to a service provider in another location, there may be confusion over what the finished product is supposed to look like. To solve such problems, it is a good idea to maintain strong communication channels through phone, email or chat. Reviewing the work at regular intervals can help you point out errors and suggest modifications. Continue reading

7 Key Factors to Consider Before Choosing an Outsourcing Company

Posted on September 26, 2015

Before you decide on which outsourcing company to partner with, read about these vital factors that can help you choose a reliable vendor.

Did you know that an outsourcing relationship can have a deep impact on your company’s reputation and bottom line? This is why you must be extremely cautious while making a choice about a prospective offshore vendor.

Here are some factors that you can examine, while selecting an outsourcing company. Considering these factors before choosing a vendor can ensure increased profits, stronger vendor relationships and higher customer satisfaction.

1.The Management Team
Find out as much as possible about who will be leading your offshore team. Check if they have the required exposure and experience to fulfil your requirements. With experienced management staff leading your offshore team, you can be guaranteed of a seamless transition of work and a successful outcome.

2. The Service Level Agreement
The SLA is the most integral document in an outsourcing partnership. Make sure that everything is clearly written out, with no room for confusion on any detail. Ensure that there is no ambiguity about the level of quality required for the services being offered.

3. Pricing
The price is usually the main motivation for outsourcing and hence it is important to avail the best possible price. Check on the vendor’s pricing structure and compare it with price offered by other service providers. Though considering the price is important, it should not be the only deciding factor.

4. The level of flexibility
Evaluate if the vendor you have choose is rigid or flexible in their approach. It is important for the vendor to be flexible enough to understand your concerns and offer possible solutions.

5. Communication
Any service provider should be able to clearly understand what is required and also promptly reply to your queries. The vendor should be competent enough to understand your requirements in clear terms, so that there are no delays in the completion of your project.

6. Trained resources
Find out if the vendor has appropriately qualified and experienced resources who will be competent enough to handle the day-to-day operations of your project efficiently and smoothly.

7. Reliability
Before signing an outsourcing contract, make sure to visit the vendor’s site. Checking on the infrastructure, back-ups for downtime, safeguards and the availability of the staff will give you a fair idea about the reliability of the vendor. Make sure to not completely place your trust on everything that is presented on paper. Personally visit the site to check is everything is also present on the floor. Continue reading

How A Mobile App Can Help Your Business In Four Ways

How A Mobile App Can Help Your Business In Four Ways

Posted on August 15, 2015

Do you want to reach out to your customers and in turn increase your business? Read on to find out how developing a mobile app can help your business in four unique ways.

Does your business have a mobile app? If not, then it’s time you got one. To start off, you have to be very clear about your objectives and strategies. Your business mobile app should be able to harness the power that mobile apps offer today.

Here are four ways how developing a mobile app can help your business:

1. Improved customer interaction

Unlike other media channels, the mobile channel offers companies with the ability to engage with their customer on a 24/7 real-time basis. Through the right strategies, your business can turn such engaged customer into buying customers. Using coupon offers, discounts and other such interactive deals is a great way to include customer engagement and improve your business.

2. Extended customer support

A mobile app will make it more simple and efficient for your consumers to get in touch with your business. An easy-to-use navigation and appropriate tools will enable your clients to get quick access to your products and services. For example, enabling the deposits of checks through the mobile app on popular smartphone platforms will make the lives of your customers easier. It will also be a great value-add to your current services. Continue reading

Five Reasons Why Your Company Must Outsource to The Philippines

Posted on August 3, 2015

Heard about outsourcing to The Philippines, but have still not tried it out? Here are five reasons why outsourcing to The Philippines is great for your business.

If you thought that outsourcing is only for Fortune 500 companies, you need to think again. Today even small companies and start-ups can outsource. Though India stills holds the number one spot for outsourcing, The Philippines is not far behind. Yes, this country is fast becoming a popular option for outsourcing.

Here are some reasons why The Philippines has become a much sought after destination for offshoring:

1. Fluency with the English language and the American culture

The Filipinos are similar to the Indians when it comes to the English language and the American culture. They have a good grasp of both. This is one of the main reasons why the country has become a favorite outsourcing destination, as top American companies will have no problems in conversing with the Filipinos, as they speak fluent English. This means that your company will be facing few or no instances, where your instructions were not carried out because of translation issues.

2. A vast number of virtual assistants

If you own a small start-up or even if you are an individual who wishes to outsource, you can team up with a virtual assistant from The Philippines. Whether it for answering your emails, writing your web content or managing your bookkeeping, you can hire a virtual assistant from The Philippines for just about any business need.

3. Save more on cost

This is one of the best reasons why your company should choose The Philippines for outsourcing. Instead of paying $25 per hour for an in-house assistant, you will pay less than $5 per hour for a virtual assistant from The Philippines. You need not worry about the lack of quality because of the low cost, as the Filipinos are quality conscious and known for their error-free work. Continue reading

The Top 5 Countries for Outsourcing Business

Posted on June 26, 2015

Read this informative blog post to find out which country you must outsource your business to.

Usually there is a lot of research and analysis that goes in before outsourcing. For instance, a company might consider a particular outsourcing location because they have a good people score (measured by educational skills, language diversity, and the size of their information technology industry). At times, the political/economic environment of an outsourcing location will be considered.

Is the political environment under control? How good is the country’s infrastructure? Is the cost of labor low? Does the country have a growth potential? Is the country financially attractive? These are some considerations that can help you evaluate if a particular country can efficiently manage the business you outsource to them.

Here is a list of the top five countries best suited for outsourcing business.

No 1: India

India, tops the chart as the most popular choice for outsourcing. In fact, hearing an Indian accent is quite normal, when you attempt to activate your new Smartphone. Companies, both far and near are continuing to reach out to India because the country has an ample availability of efficient, intelligent and extremely hard-working individuals. The only drawback is the country’s political environment and large population, which can sometimes create an unstable environment.

No 2: China

China, the second largest outsourcing service provider is still making its way in the world’s economy as it joined the global business only 21 years ago. Today, China has over 1.3 billion consumers in their market and is one of the most popular locations for manufacturers and retailers. China is one of the key players in the global outsourcing industry and plans on stealing a huge segment of India’s outsourcing revenue in the near future.

No 3: Malaysia

Today Malaysia is one of the world’s top three global leaders, with its net value being close to $1.9 billion dollars in 2014. Malaysia is a key contender for IT consulting, Systems Integration and Business Process Outsourcing. When compared with India and China, Malaysia has low people skills, which has lowered its outsourcing attractiveness. Continue reading

6 Tips For Error-Free Bank Reconciliation in QuickBooks

Posted on June 8, 2015

Have you tried reconciling your bank transactions in QuickBooks and faced errors or setbacks? If yes, then do read these useful tips on how to avoid errors while reconciling your bank accounts. 

Bank reconciliation is the process performed by an enterprise to ensure that the company’s bank and financial records such as, balance sheet, check register and general ledger account are accurate and up-to-date. Bank reconciliation is often time consuming and tedious. It can also get complicated when there are multiple banks to be reconciled. This is where outsourcing can help.

By outsourcing bank reconciliation services, you can not only accelerate the process of bank reconciliation, but also ensure better accuracy. Outsourcing bank reconciliation is also a great way to obtain a consistent data source, reduce cost, increase ROI and leverage the superior quality that only comes with offshoring.

Have you tried reconciling your bank transactions in QuickBooks and faced errors or setbacks? If yes, then do try these useful tips the next time you use QuickBooks to reconcile your bank accounts.

1. Ensure that you are working with the right bank account: If you own several bank accounts, it important to make sure that you are using the right accounts before attempting any bank reconciliations. This way, you will not end up making deposits or recording checks in the wrong accounts.

2. Look out for transposed numbers: The most common mistake while making bank reconciliations is to switch a number. For example, you could enter 45 instead of 54. However, transposition mistakes can be divisible by nine. But there should be no other error in the bank reconciliation. Continue reading

Top 3 Advantages of Outsourcing General Ledger Reconciliation Services

Posted on May 16, 2015

Read this blog post to find out why outsourcing general ledger reconciliation services can be advantageous for your business.

Have you considered outsourcing General Ledger Reconciliation Services? This is one of the most important accounting services that any business has to deal with and it very important that this business function is carried out in an accurate and timely fashion.  Outsourcing can help you achieve this, while enabling to reduce cost and increase quality.

General ledger reconciliation refers to the process of maintaining the final entries of the debits and credits of the accounts of an organization. Terms like liabilities, fixed assets, revenues, expenses, losses and gains form a part of general ledger reconciliation. These items have to be accurately categorized either in the form of debit or credit transactions, according to the transacting amount. The accuracy of general ledger reconciliation is critical to any business and requires the skills of accounting experts.

Outsourcing general ledger services can bring your business many benefits, the top-most being better quality, on-time services and low-cost services.

Advantage # 1: Cost-effective services minus investments

When you outsource general ledger reconciliation services, you can save on operating costs, without having to make any investments on software, resources, infrastructure or technology. Since the outsourcing service provider will be using their own team of skilled accountants, you need not worry about the cost of hiring and training an accounting team.  The financial service provider will also be using the very latest in accounting software and technology, thereby saving you heavy infrastructural costs. Continue reading

Call Center Staffing Calculator

Try Out Our All New Call Center Staffing Calculator Today!

Posted on March 28, 2015

Do you want to find out how much a customer support project would cost, even before you decided to outsource it? Yes, now you can with Flatworld’s novel Call Center Outsourcing Cost Calculator that is completely FREE, easy-to-use and super quick.

Over the last 15 years, we at Flatworld Solutions have been offering an entire gamut of reliable and cost-effective customer support solutions to worldwide organizations of all sizes. One question that most customers ask us is “What is the exact budget and the total number of call center agents that I would need to support my desired service level?

To adequately address this question placed by our customers, we at Flatworld Solutions have devised a new Call Center Staffing Calculator that is very easy-to-use, is completely free and provides a customer with an immediate answer to the following business critical queries:

  • What is the number of call center agents that I will need to adequately support my call center expansion requirements?
  • What will be the cost that I will incur for my desired service level?

How to Utilize our Call Center Resource and Budget Planning Calculator?

To quickly find out the number of call center agents and the total cost that you will incur on a weekly basis, all you need to do is key in the type of your project, the service types, the target country, the call count, the average handling type and your preferences on shift coverage. When you have finished entering in your details, you will only need to click on the “Calculate” button to find out the answers to your questions immediately.

Read this guide to find out how to fill in your details: Continue reading

Get All your Outsourcing Facts Right!

Posted on February 22, 2015

In the recent months, outsourcing has often been featured in the news for good and bad. Over the last decade, almost every type of business has heard a lot about outsourcing. But did you know that outsourcing is a not a new concept? Outsourcing was in fact, started in the 1970s! Now, if you find this interesting, you are sure to love our latest presentation on “Outsourcing Facts” you never knew about.

At Flatworld Solutions, we have been providing cutting-edge outsourcing solutions to companies across the globe. Whether it is customer support, data entry, software development or engineering services, we are a one-stop destination for any service that your business might require.  Being a top outsourcing service provider, we decided to enrich the knowledge of our readers with some of the unknown facts on outsourcing and India.

It’s time you get all your outsourcing facts right and become a pro on outsourcing.  Please click here to find out interesting answers to puzzling questions like: Continue reading