What is financial transcription? Have you ever heard about such services? In a nutshell, the service is related to transcribing audio to text or video to text with the only one distinctive feature – it deals with financial data mostly.
Transcriberry has a long-lasting experience of providing such services. Based on our experience, we may assure you that transcribing for business may provide you the substantial release of time and human resources as well as ensure the required level of accuracy. Do you want to know more about potential benefits you may enjoy easily thanks to content transcribed professionally? We have summarized all the required info you may need to have.
Key Reasons Why to Care about Transcription Services for Financial Data
What is the most crucial matter while working with the financial data? That is surely accuracy. In this case, the cost of a mistake may be very high. Even one character, misspelled or missed, can cause a significant negative impact on the final outcome of calculations and related business decisions. To prevent losses and other negative consequences, it is desired to reach professional transcription services where advanced AI tools and human professionals will be available.
What is the other reason for outsourcing financial transcription assignments? This arrangement may be time and cost-effective. Involving professional transcription experts who specialize in rendering these services may cost you less than paying for the working hours of your employees. And the quality of the final transcription may be a number of times higher than doing such by your own forces.
We even don’t speak about the time spent on that transcription. In any case, if you even decide to search for the right tools, reviewing and selecting more or less appropriate tools will take a lot of time. Unfortunately, this may not guarantee the quality outcome. If we speak about the aspect of time, it is also better to mention the time spent by your employees to transcribe recording on a routine task, in fact. That is far from being productive and may negatively impact the creativity of your employees if this becomes a typical assignment for them. Do you want such an outcome? Or would you like to redirect their creative potential to other directions? If the last option suits you more, here are the basic types of financial transcriptions you may expect to get.
Types of Financial Transcriptions
If you are wondering whether you really need financial transcriptions, we have shortlisted basic types of documents for which it may be required:
- Financial and analyst reports
- Annual and other meetings
- Reports related to the market research
- Internal and earnings calls
- Business plans
- Focus groups
- Clients’ calls
- Various surveys on business matters
- Various company’s reports
- Business and sales meetings
- Noted of clients
Types of Activities for Which Financial Transcription Could Be Useful
Both large and small businesses may need financial transcription services. They can be related to various banks, trading and investment companies, financial consulting agencies, financial advisors, and even financial schools that may require this type of transcription services. If you have doubts about whether you actually need these services, we suggest you pay attention to the nature of the information you have. If such is related to financial data, it is surely better to order specialized services to get the information of better quality and accuracy.
Benefits of Outsourcing Transcriptions
The most important points we want to emphasize are the benefits of receiving professional financial transcription services. You may surely find something relevant to your case.
First of all, making professional transcriptions can prevent misinterpretations and misunderstandings concerning the nature of financial information that has to be used. Accuracy is one of the foremost, especially when things come to making some audience aware of specific financial data without missing any crucial details.
Accurate financial transcripts deliver correct information. And this can also facilitate making the right decisions. This can at least eliminate the risk of making the wrong ones.
If you decide to assign professional transcriptionists, you automatically get access to the quality and effective services rendered with the use of advanced AI and technologies. Qualified professionals along with these tools may ensure quality.
Professional services also ensure the safety of interactions and sign relevant non-disclosure agreements. This can protect customers from various cyber and similar risks. Usually, transcription services use protected networks and servers. They also apply encryption and similar measures to prevent any possible data leaks.
Briefly about How Does Financial Transcriptions Are Arranged
If you want to launch the process of making transcriptions for your financial data, you need to submit a request for that. Apart from the original files with financial data you have, it is necessary to indicate a deadline and format in which you need to get the ready outcome. Also, include any special requirements you have for this assignment. If you need to sign a non-disclosure agreement with this company, this step precedes sending of all required documents. After that, it is necessary to submit a request and check the final outcome after its delivery. Here is how the process looks like in a nutshell. If you have any specific requirements and preferences, such should be discussed with the specialists.
If you have got any complicated report, webinar, or call that is somehow related to financial data, it may be necessary to get transcription services. Such are usually provided by specialists with the exact expertise who use various tools and AI. This service can ensure the level of accuracy for financial data you are going to use in your daily work.
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