data entry services

How To Choose The Right Outsourcing Data Entry Company in 2017?

In the present business scenario, outsourcing has become an important phenomenon. Benefits like time saving and cost effectiveness are the major reasons behind the phenomenal growth of offshore data entry services. Outsourcing helps in focusing on the core activities of the organization and reducing the operational costs. They also offer the unique advantage of fast turnaround time, access to latest technology and experienced personnel.

Data entry services are among the most sought after outsourcing services. These services are essential for business organizations for maintaining their information in a proper manner. But finding the right data entry services is not such a simple task. In order to find the right third party data entry solutions, the following points should be kept in mind:

Assess whether the outsourcing firm has the potential to meet the requirements- Most of the outsourcing firms have a statement of work in which they describe what kind of services do they offer. So before hiring a data entry outsourcing company, you must make sure that the statement of work is checked properly. While providing online data entry services, there are always chances of the third party facing problems. You have to enquire from the outsourcing firm, whether they can handle those situations and what strategies will they use during those situations.

Technological Expertise- For outsourcing firms offering services like outsourcing data entry is bread and butter. So in order to fully satisfy the customer requirements, they should possess the right technological expertise and proficient personnel. The business organizations must ensure that the outsourcing firms possess the right manpower and technological know-how by carefully interviewing them. The outsourcing firms must have access to the latest data entry software and their staff should be capable of using them.

Ensure data security- The outsourcing data entry firms must follow the right confidentiality measures for ensuring the safety of their data. Before entering into a work agreement, the outsourcing firm’s capacity to ensure the privacy of data must be checked during the interview process.

Prefer firms which can offer quick turnaround time- If you are a business owner based in the US, then hiring an outsourcing firm based in India would be a better option than hiring outsourcing services based in Argentina due to the difference in the time zones. A data entry firm based in India can complete the tasks assigned in the evening before the commencement of next day’s working hours.

Flexible options like a free trial- The outsourcing firms which offer flexible options are more useful for outsourcing firms. For instance, the free trial option can be availed for judging the capabilities of a data entry outsourcing firm. The outsourcing firms which offer this option must be considered over outsourcing firms which have stringent contractual obligations.

Cogneesol is well-established provider of outsourced data entry services to business firms all over the globe. For commercial ventures looking for cost cutting and revenue optimization solutions, their services are an ideal option. Over the last 8 years, they have earned the goodwill of their clients by adhering to deadlines and maintaining desired quality standards. To get more information, contact us at info@cogneesol.com or call us at +16466882821

Data Entry Tasks That Can Outsource

4 Back-Office Data Entry Tasks That You Can Outsource Right Away

When you have a considerable amount of data to manage, data entry and processing is necessary. There may be the large volume of data to be handled. The following is the list of the most typical back-office data entry tasks that could be outsourced.

Product Data Entry

The e-commerce businesses are flourishing and a lot of new ones are popping up on a daily basis. There are certain components of this business that must be looked after so as to obtain an edge over the competitors. It is necessary for the e-commerce company to concentrate on their primary job, that is sales and profits, and stay away from any kind of diversions. The jobs associated with product data entry appear easy however normally takes away the concentration of the business. That is exactly why; product data entry services must be outsourced. The outsourcing companies are capable of doing lots of things for the e-commerce business relevant to product data entry such as, although not confined to:

  • Product features
  • Product detailed description
  • Category classification
  • Product categorization
  • Price tagging
  • Catalog catalog data entry
  • Purchase Order as well as Sales Invoice Data Entry

These kinds of tasks call for plenty of attention and a significant setup of infrastructure and labor. However, the burden can be taken away the shoulder by outsourcing these kinds of tasks to the professionals. Data entry tasks related to purchasing orders, CMS updating, invoices, memos for debit and credit, as well as document management can be outsourced to take the stress off your company.

Image Data Entry

There are numerous businesses that have to perform widely on the images on a consistent basis. The quantity of image processing and image data entry could possibly be quite mind-boggling sometimes. For this reason, it seems sensible to outsource the services to the appropriate company. Image conversion, image editing, image data entry, and image indexing are a number of the tasks that can be outsourced conveniently.

Manual Data Entry

We are now inhabiting the world wherein the majority of the data is digital. Nevertheless, there is even now a wide range of data that is in the non-digital form. There is generally a necessity to convert that data into the digital form. There are numerous business concerns that have the handwritten or perhaps printed docs. This kind of data is generally unstructured. For this reason, manual data entry is undoubtedly a critical thing. There are numerous software applications for manual entry. Nevertheless, the task could possibly be fairly laborious and time intensive. Accordingly, it is advisable to outsource to the service provider with the needed know-how in the manual data entry area.

Document Formatting

Usually, it is the publishing businesses that require the document formatting services. Nevertheless, there still exist a number of other businesses that need to manage bulk documentation and thus they might need the document formatting regularly. For example, you will find a few companies that have to deliver the manuals, instructions or perhaps reports to their staff, customers, or clients. These kinds of tasks call for a sound understanding of word processing. Even so, if there is an excessive amount of document formatting, the company will find it hard to handle all on its own. This is the moment they can take the assistance of the outsourcing data entry services.

We at Cogneesol can help you carry out all the data entry tasks efficiently. Call us at +1 646-688-2821 or email at info@cogneesol.com to know more about our back-office outsourcing services.

bookeeping-outsourcing

How Outsourcing Bookkeeping Services can prove to be beneficial for your business?

In the present business scenario, the commercial organisations are facing intense competition and are looking for new ways to save time and costs. There are very few business organisations who can claim to be in complete control of their business.

In a business which is expanding and growing, the accounting and bookkeeping functions need to be made stronger. But these functions are obviously not the core activities of the organisation. Most of the companies hire in house staff but outsourced bookkeeping services can be used as an option.

Outsourcing bookkeeping services based in off shore nations like India, China etc., have become very popular for business organisations based in developed nations like US, UK, Canada etc.  The main reason behind this phenomenon is the overloaded work schedule which hardly offers the in-house staff, the opportunity to concentrate on back office tasks like accounting. Gaining access to the latest technology and experienced staff without having to incur infrastructural costs is also an encouraging motive.

Below mentioned are some points which will offer a genuine insight regarding the significance of outsourced bookkeeping services for business owners:

Simplifies the Business Processes, Reduces costs and Optimises Revenue- Using in-house staff for functions like bookkeeping; can only enhance the burden on the in-house staff and increase the overhead costs. You can very well understand the hassles involved with using in-house staff in terms of hiring, training and overhead expenses.

Outsourcing makes the business processes simpler. It offers the opportunity to pay higher priority to the core functions of the organisation and maximise the revenue earning potential.  More over there is an old saying in the business world that every penny saved is a penny earned. Outsourcing can certainly help in saving a lot of overhead costs. It eliminates the need to spend on offering infrastructure, pay roll expenditure etc.

Helpful in Future Business Planning– An outsourced bookkeeping team cannot only make the bookkeeping tasks simpler but also offer the much needed advice related to financial matters to the higher management. The owner or the higher management can take advice on important issues like taxation, future financial planning etc. without having to pay anything extra. In this manner outsourcing can add value to your business operations by offering you guidelines when you require them the most.

Access to High Quality Staff and Technology– Companies offering outsourcing services have access to high quality staff and the latest technology for performing the bookkeeping operations. They offer services of the highest quality as it is their bread and butter. So outsourcing enables a business organisation to have access to quality staff without actually hiring them.

Useful in Cases of Urgent Requirement– Suppose your business requires urgent bookkeeping services, then in such a scenario outsourcing services can be of great help. A business firm based in nations like US, Canada etc. can assign bookkeeping tasks to a third party outsourcing firm based in India and get the task done by the beginning of next day’s working hours. This is possible due to the 10-12 hour difference between the time zones of the nations.

All these points can encourage a business organisation to consider outsourced bookkeeping services.

You may also read more at: Importance of Services of a Bookkeeping Outsourcing Company

Cogneesol is among the leading outsourcing companies offering various financial services to business firms all over the world over the past eight years. These services are meant for enabling the business organisations to concentrate on their core activities or the activities in which staff is good at, reduce costs and maximise profits. Cogneesol possesses expert staff and latest technology required for performing the tasks as per customer satisfaction. By offering prompt and quality results, they have earned the goodwill of their clients.

To know more, contact us at info@cogneesol.com or call us at +16466882821.

Importance of Data Mining Outsourcing

Meaning and Importance of Data Mining Outsourcing to a Business?

Data mining is a vital function in almost every commercial venture. This concept was derived from computer science. It involves finding new data from existing business data by conducting research and analysis. Different methods like pattern recognition, Bayesian network, neutral network, classification tree are used for this purpose. This process is essential for the planning and formulation of right business strategies for the future growth of the commercial venture.

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But there is a tendency in commercial organizations to offer complete focus on core activities. So the secondary functions like Data Mining Services are paid lesser attention. Data mining outsourcing is an option which can be utilized by business organizations who want to employ their staff on the main functions.  The various benefits of hiring the services of third party data mining companies are:

  • Access to a Variety of Services – By using the outsourcing option, you can have access to a variety of services like web data mining, social media data mining, e-commerce data mining, SQL database mining, image data mining, excel data mining, financial data mining, healthcare data mining, e-book data mining, data mining for fraud detection, multimedia or text data mining, stock market data mining, data mining for customer segmentation, competitor growth analysis and tracking, data extraction services, meta-data extraction from websites, news stories extraction, market trend monitoring, brand feedback search etc., at affordable costs.
  • Enjoy the Services of Skilled Staff – By hiring data mining outsourcing; you will be assured of high quality services. The information retrieved can help in formulating strong strategies and help in gaining an edge over competitors.
  • Access to Modern Data Mining Software – A business firm might be reluctant to invest in data mining software but for an outsourcing firm, it is their bread and butter. Outsourcing offers access to latest technology without actually purchasing it.
  • Quick Turnaround Time – In case a business firm requires urgent results, then the outsourcing data mining services can prove to be extremely useful. The 10-12 hour difference in the time zones of US and India can ensure that the tasks assigned in the evening by a US firm can be completed by the Indian firm before the commencement of next business hours in US.
  • Finance Friendly – Hiring outsourcing services, eliminates the need for offering infrastructure and payroll for data mining staff. Moreover it also offers the opportunity to business enterprises to concentrate completely on core activities and maximize their revenue.

Going through the above mentioned information, can help a business enterprise in understanding the importance of outsourcing companies and considering hiring them.

Cogneesol has emerged as a leading provider of data mining services to business organizations from all over the world. By hiring outsourced Data Mining Services of Cogneesol, the companies can be assured of premium services. Moreover it offers them the opportunity to concentrate on the primary functions associated with profit generation. For more information contact us at info@cogneesol.com or call us at +16466882821.

5 Most Significant Changes Occurring in the Legal Industry Today

It is a natural phenomenon that various commercial industries undergo changes with time. The legal industry is not an exception. In the recent times, various new trends have emerged which have altered the working style and demographics of the legal industry. Obviously, the emergence of new technology has made a lot of difference.

legal-industry

Below mentioned are some changes which have affected the law office management in recent times:

Paperless Office- In the past, visitors would find piles and piles of files lying in the offices of law firms. With the emergence of electronic technology, a lot of data can be stored in computers, hard disks etc. This helps in saving office space and keeping the office neat and clean. It also ensures the safety of data as there is always a case of paper files getting lost.

The emergence of social media- With the emergence of social networking, the law firms can easily market their services among the target audience and broaden their customer base. Tools like YouTube, LinkedIn, Twitter etc., can prove to be very useful in this regard. It was difficult for law firms to advertise themselves through costly media like television, newspaper etc. Social media offers a cost-effective solution.

Increasing the popularity of outsourcing legal services- Hiring the services of a legal outsourcing company has become a common norm for law firms. These services offer benefits like better management of time, helpful in situations of work overload, helps in cost cutting etc. They offer a variety of services like legal research and writing, contract management and review, e-discovery and document review, document coding, litigation support, paralegal, accounting, data mining etc.

These services have also improved the work-life balance of the lawyers who were earlier suffering from time-related constraints and excessive work pressure. Reduction in work pressure can also help in enhancing efficiency.  Another advantage of outsourced law services is quick turnaround time.

Enhanced communication with clients- With the emergence of mobile phones, emails etc., the communication with clients has become better and easier. Now lawyers can easily contact their clients and vice versa. This has helped in the better workflow and ensuring lesser complications.

The emergence of virtual offices- Hiring a large office and offering infrastructure to employees involves a lot of costs. By offering the option to some of the employees to work from home, law firms can save a lot of funds. The concept of virtual offices has become very popular among the law firms management and has helped them in remaining competitive.

RelatedLaw Firm Management Services – Key to Boost Profitability

 Cogneesol is a leading provider of outsourcing legal support services to law firms looking for cost cutting and revenue optimization solutions. In the last eight years, they have earned the goodwill of their clients by adhering to deadlines and the desired quality standards. They have access to proficient staff and the latest software for fulfilling the needs of clients. To get more information, contact us at info@cogneesol.com or call us at +16466882821.

How to Enhance Accounts Payable Operations for Better Profit

Accounts Payable is one of the most important factors for a business. By ensuring that accounts payable are paid on time, a business can ensure good relations with the suppliers which can help in the long- term success of a business. Handling the accounts payable is not a simple task. It requires a carefully planned strategy and dedicated staff. Like other business aspects, owners are also looking for innovative solutions for handling the accounts payable process in a systematic way.

accounts payable processing

Below mentioned are some steps which can help in handling accounts payable solutions in a better manner:

Instead of paper checks utilize electronic payments- When you make payments by check, you have to bear the cost of paper, postage etc. Electronic funds transfer can help in saving these costs. Moreover, electronic payments can be made at any time as per convenience.

Ask the vendors for PDF Invoice Copies- For a majority of the business organizations, electronic data exchange is not an option for sending or receiving bills. But if this strategy is followed then a lot of time can be saved by eliminating the need to open the documents and copying them. In order to make your accounts payable process better, you can request your vendors to provide you with PDF invoice copies of the accounts payable bills.

Manual Data Entry should be avoided- Using manual data entry for processing the accounts payable documents is an unproductive decision. A lot of time and energy is wasted in this process, which can be utilized for other tasks which are more important for a business. Now days, numerous data entry software are available which can help in performing the accounts payable data entry in an accurate and prompt manner.

Ensure that errors are eliminated- Even a minor mistake while maintaining the accounts payable records can lead to overpayments or underpayments. This could lead to losses and deterioration of relations with suppliers which can prove to be harmful for the business in the long run. Using software can prove to be a good solution in this regard.

Ensure that the deadlines are followed- By strictly following the deadlines given by the suppliers, a business organization can take advantage of the discounts available and escape from the penalties of late payments. More it also helps in building a relationship of trust and goodwill with the suppliers which is beneficial for the long-term health of the business.

Consider the outsourcing option- Outsourcing the accounts payable services can help in ensuring that these tasks are completed in a timely and accurate manner. The outsourcing firms have access to capable staff, latest technology and also charge an affordable remuneration. This will help in eliminating the need to hire people and offer infrastructure.

By following the above-mentioned measures, a business organization can certainly enhance its accounts payable operations.

Read Also : Trend of Outsourcing Accounting Services Growing Rapidly These Days

In the last eight years, Cogneesol has created a niche for itself as far offering outsourcing accounting services to different types of business organizations around the world at affordable costs is concerned. By utilizing these services a business organization can limit its day to day costs and optimize the revenue earning potential. To get more information, contact us at info@cogneesol.com or call us at +16466882821.

How Outsourcing Financial Services Right For Your Business

Financial operations like accounting and payroll are followed throughout the year in a business organization. These procedures are vital for the proper functioning and success of a business. But many commercial ventures find managing these processes extremely cumbersome and expensive. This is the main reason behind the popularity of outsourced financial services throughout the business world.

finance-and-accounting-outsourcing-services

Below mentioned are some points which will help you in understanding the benefits of outsourcing financial services:

Reduces the burden on accounting staff and enhances their efficiency – In numerous companies, accounting staff has to face the pressure of completing huge volumes of work. By outsourcing, some of the accounting tasks to a third party firm this pressure can be relieved and the efficiency of the staff can be enhanced. Moreover, it also offers the opportunity to deploy staff on more important activities and improving productivity.

Ensures proper implementation of guidelines and rules – The accounting rules and government regulations related to taxation can change over a period of time. It is difficult for a business to keep track of all these things. An outsourcing company will ensure that all these factors are given proper importance.

Get your job done by the best talent in the industry – Over a period of time; the outsourcing firms have gained a reputation for having access to excellent staff and completing the assigned tasks as per client requirement. By hiring the services of third party firms you can easily gain access to talented accountants and financial experts without having to actually hire them.

Enjoy the benefits of latest technology – For outsourcing firms offers financial services is bread and butter. They invest in the latest technology which can help them in performing their tasks efficiently. A business enterprise might not be willing to invest in the accounting or taxation software, so outsourcing services can enable a business to enjoy access to them.

Helpful during an economic crisis– During an economic crisis, a business organization might relieve some of its employees from the service to save costs. In such a scenario, outsourcing can prove to be helpful in dealing with tasks like payroll, accounting, taxation etc.

Quick Turnaround– In situations where a business organization requires urgent financial services, outsourcing firms are the best option. The tasks assigned by a firm based in the US in the evening can be completed and submitted by an Indian firm before the commencement of next day’s working hours due to a difference in time zones.

All these tips have been mentioned to help in understanding the significance of outsourced financial services, but it is up to the business owners or the higher management to decide what is good for the business.

Also See :  WHY STARTUP NEEDS FINANCE AND ACCOUNTING (F&A) SERVICES?

Cogneesol is among the best financial services outsourcing companies offering affordable solutions to global business ventures. By utilizing these services a business enterprise can pay full attention to its core activities like production, marketing etc, and maximize its chances of succeeding in the cut-throat business environment. Gain more information by contacting us at info@cogneesol.com or call us at +16466882821.

 

How Outsourcing retail store accounting will change your business?

retail-store-accounting

In every business organization, there are some functions which hold great importance. Accounting is one of them. Despite its significance, this function mostly receives less importance than the core activities.   In a retail store the main functions are marketing and customer relationship management. Though accounting is not directly linked with the revenue earning process in a real store, it plays an important role in the business planning and keeping the financial records.

If a retail store owner is finding it difficult to perform the accounting tasks himself and also considers hiring in-house staff a costly affair, then outsourcing retail store accounting can prove to be good option.

The various advantages of hiring such services have been listed below:

Helps in maintaining proper records of the finances– In a retail store, numerous transactions take place every day. It becomes difficult for an owner to keep a track of each and every business transaction. By outsourcing the accounting services, a retail store owner can easily maintain proper records which can help in conducting a financial analysis of the business and in making future business growth strategies.

Helpful in the taxation process– Like any other firm, a retail store also has to fulfill its tax obligations. By hiring outsourced accounting services, you can easily maintain proper financial records, which can help in evaluating the taxes correctly. More over the accounting firms can also help in preparing your tax returns.

Eliminates the need for hiring in-house staff– Using outsourcing services, eliminates the need for hiring in-house staff. This helps in saving the time spent on recruitment, training and overseeing work.  You will only have to follow the contractual obligations. It also reduces the need to offer infrastructure to employees. So obviously a lot of time and money can be saved.

Access to experienced team– The outsourcing firms are well known for following the accounting laws and stipulations in a professional manner. They are also known for hiring expert staff capable of performing the tasks as per client requirements.

By outsourcing the accounting services, the retail store owner can concentrate on the main activities and optimize their business potential.

Read Also : Top 5 Tools For Financial Success In Your Retail Shop

Cogneesol is among the top outsourcing companies that offer affordable financial and accounting services to retail stores and other commercial ventures. If you’re looking for a dependable retail accounting services, then Cogneesol is among the best option. To get more information, contact us at info@cogneesol.com or call us at +16466882821.

Restaurant Accounting Services

Operating a Profitable Restaurant by Outsourcing Accounting

The very concept of operating restaurants has undergone a sea change over the last decade or so. No more do eating places wait for clients to come to them, they go right to the living room of clients and help them book tables, choose from the menu and pre-order to save time waiting for food when physically present at the restaurant. This is the advantage of the Internet and the exponential boom in smart phones usage. However, ordering on the go may be great but it puts a lot of pressure on each restaurant to perform optimally to keep up with the competition. This is why, restaurants owners are focusing increasingly on core competencies while outsourcing operational aspects that really do not require a high level of managerial decision making.

One such area is accounting functions. Restaurant accounting services today are playing a great part in increasing the profitability of restaurants while ensuring that quality services are offered at affordable rates. As a restaurant owner then, what would your reasons be for availing of these services? And if you do ultimately decide to do so what would be the extent of outsourcing accounting functions to make your business truly profitable?

Restaurant Accounting Process - Cogneesol

  • Outsource Accounting for Restaurants Comprehensively –To be truly profitable, you should comprehensively outsource your accounting process. Many owners tend to spin off only vendor payments and accounts payable and receivable which in almost all cases form the bulk of transactions. But by keeping control over such heads as inventory management, they defeat the very purpose of outsourcing that is, to focus on more productive areas of running the business. Further, processing a part of the accounts in-house and part externally gives rise to complications in consolidation of accounts and compilation of balance sheet. Outsource the full process to optimize running of your restaurant.
  • Save Time and Money to be Profitable – Profits are directly dependant on expansion of business and reducing expenses. Outsourcing of accounting work will help you achieve exactly that. For accurate processing of accounts in-house, you’ll need to install cutting edge hardware and software and hire experts to run the systems. This requires huge investments in infrastructure development and other recurring expenses. But once you outsource this activity, the savings can be fruitfully channelized into areas that have a direct impact on enriching client experience – ambience, a wider choice of menus and more online options. This is what will rake in real profits. The time you save in not having to micro manage daily routine activities can now be spent on devising effective business plans and implementing them.
  • Get Guidance from the Experts – When external restaurant accounting services compile your accounts and balance sheet, they have a direct overview of your business from every angle. They will thus know the state of your financials very well and will be able to advise you on what will maximize your operating efficiency leading to higher profitability. Take the case of inventory levels which is fundamental to generating profits. Outsourced agencies will analyze your monthly inventory levels taking into account seasonal fluctuations and can advise you on the quantum to be maintained at all times. You will also be given updated reports on the financial position which will enable you to devise suitable strategies to optimize your business.
  • Real time Financial Reports for Quick Decision Making – Agencies offering accounting for restaurants have state of the art systems that process any incremental data quickly and generate reports on a real time basis. Thus if you want to know if your business is on the right track and is being profitable, you can ask for reports with fields of your choice. Consequently, you can give required direction to your business and make course corrections to further increase or modify business plans. All this would not have been possible if you had stuck to traditional accounts processing in-house where reports are generated at quarterly, half yearly and annual periodicity.

While it has been seen how operating a profitable restaurant largely rests on outsourcing accounting work fully, a lot rides on the agency selected by you. Any run of the mill outsourcing company will offer you generalized accounts processing but you should keep in mind that restaurant accounting is a very specialized field and cannot be compared with other industries. Select an agency after due diligence, focusing largely on their professional expertise and ability to face the unique challenges of the hospitality sector. Go through their list of clients before awarding a contract and make sure that they cater to clients of a scale comparable to your business at least.

Also Read: 5 Signs That You Need To Hire New Restaurant Accountants

By following these points it can only be a win-win situation for you so far as profitability is concerned.

If you need top of the line services of accounting for restaurants, get in touch with Cogneesol. We have many years of experience in this field and can boast of some of the leading restaurants in the world as our clients. For more information write to us at info@cogneesol.com or call +1 646-688-2821 (USA).