5 Things to be done before Hiring an Outsourcing service provider

In the recent times, one concept that has become popular is hiring an outsourcing service provider to outsource your time-consuming and important tasks that you want to be completed efficiently. These tasks and operations can be related to Accounts, Data entry or Ecommerce product entry etc.

Some entrepreneurs still make mistakes in selecting the right outsourcing company as per their needs due to less understanding of this process and lack of awareness. Here is the post which will give you an idea about the facts which you should keep in your mind while selecting an outsourcing company for your important operations. If you are looking to Outsource accounting services or other services, the fifth point is of extreme importance.

Dos for Hiring an Outsourcing service provider…

For more information, you can contact us @ +1 646 688 2821 or mail us at info@cogneesol.com

medical accounts payable and receivable

Why Medical Companies Need to Automate Accounts Payable and Receivable functions?

In every business organization accounts payable and accounts receivable play an important role. The healthcare organizations are not an exception in this regard. In a healthcare firm, the main functions are obviously related to patient care. So there is always a chance of healthcare accounts receivable and healthcare accounts payable functions getting ignored. Not giving proper importance to these functions can nullify the efforts put in by the team towards offering patient care services.

In such a scenario, automating the medical accounts receivable and payable functions by using the latest technology is the best option.

The various benefits of accounts receivable automation have been discussed below:

  • Reduced outstanding payments- By using the automation option, the invoices would be prepared and delivered to clients at the right time, thus leading to quicker payments.
  • Opportunity to offer e-invoicing- Many clients ask for e-invoicing facility which can be easily offered by latest software like QuickBooks. This can help in offering better service to clients and hence enhancing the customer base.
  • Opportunity to employ staff on core functions- By automating the accounts receivable process, the medical firms with a lesser number of staff members can focus more on the core functions of the organization, thus leading to enhanced productivity and efficiency.
  • Lesser customer inquiries- As automating will ensure that invoices will reach the clients on time, your customer care employees will have to answer a lesser number of customer inquiries.
  • Improved cash flow- With better management of accounts receivable, the medical firms will have better cash flow, leading to greater operational efficiency.

The various benefits of accounts payable automation have been discussed below:

  • Helpful in keeping records of payments made or missed- There is always a chance of certain payments being missed or being made twice by mistake. But with the option of paper invoicing through automation, these mistakes can be avoided.
  • Aids in availing discounts- Early payments help in availing the discounts offered by the suppliers. Automation can play an important role in this process.
  • Useful in maintaining a good relationship with suppliers- By making payments at the right time, good relations with the suppliers can be maintained which is useful for the long term success of the business.

Cogneesol has emerged as a top class provider of outsourced accounts receivable and accounts payable services to business organizations from all over the world at affordable costs. These services can help the business firms in maximizing their potential and reducing overheads. By hiring these services, focus competencies can be prioritized and make your venture more successful. To get more information, contact us at info@cogneesol.com or call us at +1 646 688 2821.

Advantages Of Hiring Healthcare data Entry Outsourcing Services

With rapid advancement in technology the data entry management systems of different types of businesses have undergone considerable changes. Data entry outsourcing has become a popular phenomenon. The health care industry is not an exception in this regard. The healthcare data entry services based in developing nations like India, China etc, are in huge demand. While selecting the services of a healthcare data entry company, people generally look for professionalism and skill. The main reason behind the rising popularity of such services is enhanced speed, accuracy, and reduced costs.

The various benefits of hiring healthcare data entry outsourcing services:

Cost advantage – There is a massive difference in the values of currencies of developed nations and developing nations. Hiring in-house healthcare data entry staff in nations like US, UK etc, is much costlier than hiring outsourcing services based in India, Philippines etc. So clearly outsourcing can help in saving valuable funds which can be diverted towards the more important functions of the organization.

Greater accuracy – The outsourcing healthcare data entry firms have access to highly proficient staff and the latest technology for performing the data entry operations effectively. So the results offered by the outsourcing companies are much more accurate than the results offered by in-house staff. Better data management helps in better business planning.

Proper adherence to security standards – For a business enterprise, the security of the business data is extremely vital. The outsourcing companies are trustworthy and make sure that the data of the clients is maintained properly and kept away from the reach of outsiders. There is no need to have concerns regarding the security of your data while outsourcing services to third-party firms.

Quick turn-around time – There is a difference of about 10-12 hours in the time zones of nations like India and US. Due to this time difference, the work allocated in the evening can be completed by the morning. This unique feature of quick turnaround time makes the outsourcing services extremely useful.

Cogneesol, a leading outsourcing healthcare data entry service provider, will provide strong support to your healthcare business with their exceptional product data entry, catalog data entry services.  Their proficient staff is capable of completing data entry tasks within a short turnaround time at cost-effective prices. To get 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 Manage and Organize Your Real Estate Business?

Real estate business can prove to be extremely lucrative if administered in a proper manner. In today’s ever-changing business environment, many real estate companies facing constant pressure to improve performance, reduce risks, and grow their businesses. By carefully organizing the systems, files and time real estate owners can achieve success.

real-estate-business

The following steps can help in  managing real estate business :

Properly managing the paperwork – There is a lot of paperwork involved in real estate business. It is essential to get it right to streamline the business processes. First of all the personal and business files need to be kept separate. Nowadays, the data is generally stored on computers. It should be structured properly. You can create different folders like admin, buyers, sellers, clients, marketing etc. Inside the admin folders, further sub-folders can be created like business, hours, employees, passwords, policies etc. Inside the buyer’s folder, further folders like closed, in a process, offers, pending etc. can be made for properly managing the information. Inside the seller’s folder, you can create sub-folders like active, closed, not yet listed, pending and withdrawn. Inside the client folder, further folders like a database can be created. Underneath the marketing folder, more folders like advertising, blog, testimonials, vendors etc., can be created. All this will help in proper management of information.

Hire outsourcing services for non-core activities – In a real estate business, the core activities are the construction of property and finding customers who are interested in purchasing it. But there are others functions which are not directly related to the revenue earning process like accounting, data entry etc., but hold importance for the organization. These functions can be outsourced by using real estate accounting services, real estate data entry services etc. This will allow you the opportunity to concentrate on more productive activities and optimize the sales potential.

Use innovative marketing plans- The real estate owners generally rely on standard marketing strategies like using newspapers, radio and local television channels. Everyone tries these methods. In order to gain an edge over the competitors and market your products in a better way, new marketing channels like email marketing and social media can be used. Reliable business studies have concluded that a direct mail sent to a prospective client has greater chances of generating sales.

Cogneesol is well known for offering commercial real estate accounting services to clients to grow their businesses at affordable costs. These services are aimed at enhancing the profitability of the organizations by reducing their operational costs. To learn more about real estate industry services, contact us at info@cogneesol.com or call us at +16466882821.

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When And How To Outsource Real Estate Accounting For Your Firm?

Why Should I Outsource Real Estate Data Entry?

How accounting outsourcing companies can help Medical or Healthcare Businesses?

Like any other industry, doctors and healthcare providers also maintain their accounts for keeping their financial records. Medical practices and health care companies have distinct requirements from other companies. They require keeping the patient data safe. In order to maintain the accounts properly they have to hire in-house accounting staff. This can prove to be a costly practice as both manpower and infrastructure will be required. Healthcare accounting firms offering outsourcing services can be extremely helpful in this regard due to the following reasons:

outsource healthcare accounting services

  • Economical in terms of cost- By utilizing outsourced accounting services, you can avoid paying regular salary to an in house accountant. By hiring outsourced services, you will only have to pay for the number of hours, the company has worked or the amount of work assigned. You will also be able to save the cost of furniture, payroll taxes, computers, insurance etc.

  • Helpful in better time management- By outsourcing the accounting work, medical and healthcare businesses can use their manpower for more significant work which is directly related to the revenue earning of the organization. Difficult processes like hiring, overseeing and retaining accounting staff will be eliminated. All these processes involve a lot of time and energy. In comparison dealing with the contractual obligations of an outsourced accounting firm would be much easier.

  • Enjoy access to specialized services- The health care accounting firms have proficient staff with years of experience in offering professional accounting services. They remain in touch with the constantly changing working environment. The latest accounting software like QuickBooks are also utilized by these companies for ensuring that the expected level of quality is ensured and delivered to the health care organization.

  • Helpful in filing tax returns- The accounting records prepared by healthcare accounting firms are accurate and up-to date. So they will be extremely helpful while filing for the tax returns. In developed countries the commercial ventures are instructed by the government taxation agencies to properly maintain their accounting records for taxation purposes. Owners, who do not follow the guidelines, have to face legal penalties. So in this regard also the outsourced services are useful.

  • Variety of services available- Accounting and bookkeeping company for doctors, dentists, medical practitioners offer a variety of services such as accounting software selection and installation, periodical bookkeeping services, time tracking support, cash flow forecasting, payroll software selection, tax return preparation and planning etc.

Cogneesol is a leading healthcare accounting outsourcing company based in India. By hiring their services benefits like reduction of operational costs, profit optimization, better time management, and tax preparation management can be achieved. For further information, visit www.cogneesol.com

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What You Need to Know About Paralegal Services?

Before going into details of what constitutes paralegal services and what they have to offer, it will be relevant to know who a paralegal actually is and what his duties are. A paralegal is one who is trained in legal functioning and has knowledge of the various aspects of law and legal procedures. However, there is a subtle difference between paralegals and lawyers. Paralegals are prohibited from offering legal services directly to clients and must work under direct supervision of a lawyer. They can be employed by a law firm or the legal department of a company or even work freelance at the same places.

Lawyers more often than not are always short on time. This is because the bulk of work in preparation of cases is time taking backend tasks that prop up the main litigation on hand. Most of these are tedious, revolving around research and writing where no real interpretation of law is required. However, these are absolutely necessary with two options to have them done. The first is to hire lawyers at high salaries to basically do work that does not form a part of core activities. The second is to hire paralegal support services at a fraction of the cost but with the same level of competence and output.

Services Offered by Paralegal Agencies-

  • Secretarial Services Legal – These are services required by a client to constantly be in the loop about the progress of a case and comprises of Calendar Management, Mailing Services, and Transcription Service. It also includes data entry, proofreading and editing of important documents and court related papers and preparing presentations to be made to the client about various facets of a case.
  • Preparation of Documents, Contracts and Agreements – In many cases, agreements and contracts have fixed formats but in others, fresh clauses have to be incorporated that are specific to the case only. Drawing up loan agreements, retainer agreements and pre and post nuptial agreements are some of the examples in this regard where the law must be followed to the last letter and there is no discretion to interpret the clauses in any other manner. Framing employee manuals, preparing documents for divorce proceedings and Bill of Sales are some of the other tasks taken up by paralegals.
  • Litigation Support Services – Paralegals are well adept in offering EDD (Electronic Document Delivery) solutions that facilitate quick communication between the legal firm and client. Working on dispositions, ESI processing and most importantly reviewing all documents are some of the other litigation support services that can be had from paralegal services.

Beneficiaries of Paralegal Support Services –

  • Large Corporations and Legal Firms – Both these entities prefer to opt for external services to cut down on expenses and time. Any increase in legal requirements can be easily met by parceling off services to external agencies without having to hire lawyers for a short term. Again with a large bank of ready paralegals to back up work at short notice, there is no delay in preparation of cases even when there is a sudden surge in litigation cases. With overheads under control, law firms can structure their fees attractively for quality clients and thereby facilitate business growth and development. There is no need by legal luminaries to get tied down to such mundane tasks as legal research and drafting and preparation of documents.
  • Small Legal Firms and Solo Practitioners – For these sectors paralegals have a great role to play; in fact, it would not be wrong to say that they survive largely on the support of these services. Small firms need not be limited by the size of their staff strength to take on more cases; they can bank on the professional expertise of paralegal agencies to support them without scalability issues looming large before them. With such services being very affordable, small firms and solo practitioners can parcel out the bulk of support services while focusing on the very minimum that is, court appearances.

Read Also4 WAYS PARALEGAL OUTSOURCING SERVICES INCREASE CLIENT SATISFACTION

Hiring paralegal services is the best option for legal practitioners looking for exponential growth of business without a corresponding rise in overheads.

One of the industry leaders in paralegal services is Cogneesol. Our team of qualified and experienced paralegals is well conversant with the finer nuances of a law of most countries. To know more, contact us at info@cogneesol.com.