Business Transcription turnaround time– Why it’s Critical!

Business transcription, imagine the waste by so many companies because they send in audio files for business transcription several days in advance to make sure it gets completed, only to find that it isn’t needed by the time it actually is done. By then you are usually stuck with an unnecessary expense.

When talking to those who send the audios, I hear them asking themselves two questions:

1.          “Am I sending this far enough in advance to the vendor or word processing center so that I’m guaranteed to get it back prior to my needing it?“

2.          “Do I really need this to be transcribed? Just in case, I’m going to send it in!”

Very often, the underlying viewpoint I hear when talking to the senders of audios for business transcription is: “better safe than sorry!” Imagine all the money wasted on transcribed interviews that becomes irrelevant three days later, but they had to send it far in advance to ensure it gets back “in time.” I know that in other primary areas of their business they demand more, but with business transcription, this is common.

Current State with Business Transcription:

Many companies negotiate 5-10 business-day turnaround times in their contracts in hopes of procuring a better price. Then, due to the “better safe than sorry” viewpoint and the lack of centralized knowledge regarding turnaround time performance, they sometimes don’t really have a handle month-to-month what the cost is to unnecessary transcript being performed. That’s when you get the “better safe than sorry” attitude.

What’s the annual cost of sending audios too far in advance and then not needing them? Our “automated transcription software” company spoke with a business transcription vendor recently, and they said they were getting calls on 10-15% of their transcription orders asking for cancellations due to no longer needing the interview transcribed, but they sent it in too far in advance to ensure it gets completed in time (many of which couldn’t be cancelled from a payment standpoint). That vendor also thought there were many more that would be cancelled but are not!

Just Imagine:

Imagine saving that 10-15% off your business transcription costs by having a vendor like the "automated speech to text" who guarantees AND CAN PROVE that they have the ability and performance track record to guarantee that transcripts will be completed accurately and on time (two days instead of five for instance), whether the company sends one or 100 audios in for business transcription in any given day?

More Resources:

MEDICAL TRANSCRIPTION: Gain a partner through outsourcing

Don’t Get Ripped Off – How to Make Sense of Your Medical Transcription Bill

How to Set Up Your Perfect Home Transcription Office

Letters of Recommendation: Sometimes the Best Translation is Not to Translate

What is the Difference Between Verbatim Transcription and Intelligent Verbatim Transcription?