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Can Data Mining Services Benefit Businesses? To answer this question, let's ask another: Can you predict the future? Can anyone? In 1555, Michel de Nostredame, more usually known as Nostradamus, published "Les Propheties," a collection of 942 poetic Quatrains. To illustrate how popular predicting the future is, the book has not been out of print since!

And although these predictions are wildly vague and often misinterpreted, many point to them as accurately foreseeing the future.

But if you don't have the gifts of Nostradamus, today there are tech tools to help see what's in your business future. It's called Data Mining.

First, the term "Data Mining" is a misnomer because the goal is to extract patterns and knowledge from large amounts of data, not the extraction (mining) of data itself.

Data mining, and Data Management, is the process of discovering patterns in large data sets. Data mining is an interdisciplinary sub field of computer science and statistics, with an overall goal of extracting information (with intelligent methods) from a data set and transforming the information into an understandable structure for further use. Aside from the raw analysis step, it also involves database and data management aspects.

Most businesses find and collect large amounts of data. And among that data is knowledge and patterns that can influence product design, marketing, sales, placement, and process- no matter what your sector, no matter the size of your business.

Locating the data that has information pertinent to you is what makes data mining important. It's a process that may use different tools- software, protocols, and extraction paradigms- but it's a critical process that can influence your enterprise's growth and evolution.

So How Do You Go About "Mining Data"?

At first glance, the process seems very complicated and full of alien terms. And it is quite technical. To establish and operate a full-blown data mining team is a cumbersome and expensive project. An expense that only the largest players can afford. But even small and medium-sized businesses can benefit from using Data Mining Services.

Which brings us to the subject of Data Mining Outsourcing.

By partnering with a BPO, a Business Process Outsourcing firm, your company can begin using the rich trove of information for your business that data mining can produce.

But data mining is a complicated endeavor. A task that most enterprises simply can't afford to do themselves. Instead of shouldering the burden to hire, train, and retain a skilled data mining department, more and more enterprises are outsourcing- hiring a full-blown professional, well trained, and experienced data mining Team.

In Outsourcing firms, Functions like data management, data processing, and data mining is performed by financial and business analysts. All skilled in the various intricacies unique to each sector that they work in.

Types Of Data Mining Processes

  • Healthcare Data Mining - In the Healthcare industry, it is used to enable providers to systematically use analytics to find waste and duplication to lower costs and increase care quality.
  • eCommerce Data Mining - Data mining in the e-commerce industry helps in Product Search, Product Recommendation, Fraud Detection, and Business Intelligence. An e-commerce store's success is based on the experience it offers to its users, which now is linked to data understanding.
  • Financial Data Mining - These kinds of services offer many applications in the financial business. For example, it can help a company reduce its costs, boost profits, or derive user behavior insights.
  • Web Data Mining - A large chunk of time of data mining companies goes into data extraction using the web. Internet is home to millions of websites and billions of blogs; hence it is an excellent source of data extraction for different types of businesses.

Data Mining Best Practices

  • Identify both the tactical and strategic needs of your business.
  • Find and Evaluate the data sources for precision and relevance.
  • Choose the right applications or tools to integrate.
  • Decide what your budget is and what type of audience do you want to target.
  • Be clear about your goal.

Top Benefits Of Outsourcing Data Mining Services :

So, what do you gain with data mining?

  • Better Forecasting - With your outsourced team's access to best practices, latest technology, in continual training in upgrading, Your business forecasting will improve.
  • Highly Qualified Staff - By outsourcing data mining services you get access to trained and highly proficient staff. Their primary function is to handle the complicated job of processing and mining your data.
  • Cost-Effective - The jewel in the Crown of outsourcing. You no longer have to hire, train, retain, upgrade, and continually monitor and in-house staff. There's a considerable saving in Salaries and infrastructure.
  • Advanced technology - Outsourcing allows you to continually upgrade your hardware and software because you don't have to buy it.
  • Data Safety - The BPO's offering data mining services use the latest technology and are pros at keeping your data safe.

Data mining can transform a business, but implementing it the way it meets the needs of the company's stakeholders frequently stands in successful data mining investments. A wide variety of tools, depending on their complexity, are available for data mining such as R, Python, Azure ML Studio, SAS, and Excel. 31% of companies say they lack the skill sets needed to leverage these tools, hence, they have to outsource these services

  • Innovation and creativity
  • Improved decision-making
  • Fraud Detection
  • Better planning and forecasting
  • Lowers the overall cost
  • Opens the doors to new revenue channels
  • New customer acquisition/retention
  • Better customer relationships
  • Helps in developing and creating new products

Outsourcing data mining is already proven to be highly beneficial for all types and scales of businesses. Specialized care and focus can be ensured by outsourcing without adding to the overheads unnecessarily.

Using Rely Services as your Data Mining partner will save you more than time and money. Since they are continually refining their business methods, that endless pursuit of perfection will benefit your operational practices. Contact Rely Services today for a detailed evaluation of the many ways they can make you more successful.

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What Is Business Process Outsourcing?

As business process outsourcing growing in popularity, many people are asking,‘What is it?’. Business process outsourcing, also known as BPO, refers to companies hiring third-party groups to accomplish certain businesses tasks or functions that are not of main concern to the company.

Any business’s primary focus should always be the company’s core goals, missions, values, and operations. However, these important tasks are never all that a business needs to accomplish. Companies can get bogged down by the tedious work that needs to be completed for the business to function.

BPO provides companies with an easy, cost-effective, and proficient solution to accomplish these essential operations. When this work is taken over by a BPO service, it is done quickly and accurately by expert professionals, which allows the business to regain focus.

The benefits of business process outsourcing can be explained through the work that BPO companies do. Business process outsourcing offers a variety of services with the goal of helping businesses make more money and become more profitable.

How Does Business Process Outsourcing Work?

Business process outsourcing works by providing companies with various services that will lead to success. Your company’s core mission is to make money and become more profitable; let a BPO company handle everything else!

BPO companies are an amazing asset for businesses to take advantage of. By utilizing BPO, businesses that need help get their non-core work accomplished without wasting company time. Saving time will save you money; money that can be used for capital investments, advertising, and adding key staff.

Business Process Outsourcing Services

BPO can provide valuable services that will save you time and money. They can handle all the peripheral business functions that you in-house staff is forced to do now

  • Data Management Services – Having a team of experienced professionals to take care of entering your important business data is an enormous advantage of using a BPO provider.
  • Back Office Services – One of the quintessential services that BPO provides which helps answer the question of ‘what is business process outsourcing’ is back office services. The back office of a business refers to all the non-primary, behind-the-scenes company work. A BPO company can easily accomplish this tedious work without wasting time.
  • Data Entry Services – Many businesses live or die with their data, or lack of it. Data Entry must be accurate and timely. For many firms, data entry is a second function for some lower level employees, and expertise, speed and accuracy may suffer from this practice. A BPO service can supply a dedicated team that knows your businesses needs and can make things happen for you quickly and efficiently.
  • OCR Services – Optical character recognition, also known as OCR, refers to the computer software that transforms imagery of words, whether handwritten or typed, into digital text. This incredible process allows for handwritten documents to be edited electronically, moving your data into a total digital universe.
  • Data Processing Services – Data processing refers to when raw data is acquired and translated into digital content that can be stored, read, and edited by electronic devices and machines. A BPO company with an experienced team of professionals can make all your data flow accurately and secur

When you partner with a quality BPO provider, you will have a team that can react to your needs 24/7, with safe and secure servers and networks. What it does for you is up to you! A top-notch BPO can scale its services to fit your needs and budget. And the typical BPO company can save their clients time and money,about 40% more savings than it would cost to perform in-house. At Rely Services, they boast anerror rate less than 0.01%, allowing businesses to be successful in a cost-efficient and effective manner.

Is Business Process Outsourcing Worth It?

Outsourcing is an amazing way for businesses to be cost-efficient, increase productivity, get organized, and, most importantly, focus on core business tasks.

One of the main challenges of business process outsourcing is letting go of control of certain company tasks or projects. However, when you implement a BPO service, the staff members are experts and professionals in business processing, which means that your work will done to the highest of standards.

BPO services companies are equipped with the right experience, tools, and staff to take your business to the next level!

Rely Services – Your Partner For Success

Rely Services is a BPO provider that has been helping companies excel for over 20 years. Rely Services has served a variety of clients with services like data entry, back office services, OCR, data processing, data management, and more.

Our mission is to help our clients achieve long-term and sustainable growth. Rely Service’s team of experienced professionals guarantee their work. You are happy or you don’t pay; it’s that simple.

Rely Services has built their reputation delivering services on time and on budget. No job is too big or too small; they all receive the same quality service. Contact Rely Services today for a no obligation survey of how we can partner with you to save time and money.

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There are multiple challenges for today's firms in the Mortgage Industry. There are tests like increasing the Mortgage Loan Process costs, with tighter profit margins, escalating personnel costs, and retention problems. There are more players on the field, making this sector very competitive. Here are a few of those challenges.

  • Shorten the Turn Around Time! - The customer always expects the fastest service. Blame Amazon for unreal expectations, but that's the fact, so you better be able to deliver on time. And it would help if you were super accurate because mistakes will cost more time.
  • Regulatory Compliance - To say the regulatory battlefield is "fluid" is a huge understatement, and that means your staff needs to be up-to-date on all the changes. Which takes a lot of time, that's paid time, and additional expenses of seminars, software, and printed materials.
  • Flexible Staffing - Like many other business sectors, the mortgage process business has busy and slack seasons. Having to pay idle staff during slow times doesn't make a lot of sense, so it's worth exploring a different business model.
  • Pre-underwriting Precision - Somebody who will complete all of the needed preparations so the underwriting process can go smoothly and efficiently. Most lenders and borrowers expect the buyer to be pre-qualified these days, and the key to that is effective pre-qualifying methods.
  • Business Growth - You want to grow your business, either in your area, in your state or region, even overseas. But this is a big leap, filled with traps, so you better have solid plans and enough capital to make a move to expand.

These challenges force the question: How do you scale up your enterprise while cutting costs and trying to remain viable in a cutthroat Mortgage Market?

Ever consider Mortgage Outsourcing Services - Mortgage BPO as a solution?

The Mortgage Process is a multi-faceted, hyper-detailed set of responsibilities. Many different "micro-tasks" that require precise knowledge to complete. If one person on your staff is handling all of the different functions involved in Loan Origination - Background Investigation, Property Assessment, Accounting, Financial Checking, Document Examination, Mortgage Underwriting… not only are they crazy busy, but the workload will soon crush them. And when it does, there will be plenty of mistakes to clean up.

Tame that Beast!

Mortgage Process Challenges - How to Win!

In 2019 the average US borrower made a 5% down payment for their home purchase.

Ten years ago, someone with a down payment that small probably couldn't get a mortgage at all!

So, lenders today are taking on more risk in a highly charged, competitive market! What does this do to their business model?

After the recovery from the great recession, mortgage lenders faced a new reality. These lenders needed to find a way to reduce costs and become more efficient. With reduced profits, how can mortgage services remain in operation? What are the best tools to help firms in this battered financial sector succeed?

Here's Five Big Reasons Mortgage Services Outsourcing has risen to meet the challenge.

  • A BPO team has the latest tech, and IT practices available. That means constant hardware and software upgrades, migration to the latest servers, world-wide access, cloud services, continuing maintenance, and full support for your in-house staff. And while the service is outsourced, all the information is available to you 24/7. In this Hacker age, a BPO can offer cutting edge security practices to keep your information safe and private. It seems every day the headlines are filled with news of a new data breach. Look for a BPO that has never had a data breach, never lost any information, never suffered a devastating server crash. And if they have suffered one of these disasters, how did they recover?
  • No matter what size your business, a BPO can help you become more profitable. Often new customers will start a conversation with: "my operation isn't large enough to outsource these services." Actually, you're probably just the right size to benefit from BPOs scalable services. Small bank or multi-national lender, you'll be a good fit.
  • Customer satisfaction scores are off the chart! BPOs have been engaged in customer service- related functions for years, and it all started with building customer trust and confidence. Quality BPOs engage in constant training in customer relation practices with their representatives, so your hard-won customers will stay happy with both your products and your services.
  • Mortgage service outsourcing can deliver access to the latest in big data analytics, which in turn gives your firm the ability to use up to the minute information about pricing models, the optimum number of loans to have outstanding, loss mitigation, and best practices. Big Data can allow your business decisions to be the best informed possible.
  • Cut that overhead. A BPO will provide a professional certified contract loan processors ready to go at a fraction of your current cost. Let your core staff do what they do best. Let your key players do their thing. Let a BPO do everything else.

The right BPO will be a  professional operation delivering on time and budget. And they should be completely transparent, so you know exactly what kind of job they're doing.

Mortgage Process Challenges - Tame The Tiger! Some Leading Benefits of Outsourcing!

You're probably very familiar with the Mortgage Industry's needs, but let's look at it through the lens of your prospective outsourcing partner.

  • Access to the latest software - As mentioned above, a top-notch Mortgage Process Outsourcing Services team has the latest tech and IT practices. This means constant hardware and software upgrades, migration to the latest servers, world-wide access, cloud services, continuing maintenance, and full support for your in-house staff.
  • Security - Since it's vital that all your data will be backed up and secure, this is a crucial factor in picking your Outsource Partner.
  • Minimal Overhead - Cut that overhead. Your BPO will provide a professional, highly trained staff ready to go, at a fraction of your current cost. This can mean huge savings in overhead.
  • Customer Satisfaction - BPOs have been engaged in customer service- related functions for years, and it all started with building customer trust and confidence. Our team members engage in constant training in customer relation practices, so your hard-won customers will stay happy with both your products and your services.
  • Focus on Core Services - Let your core staff do the things they do best. Let your key players do their thing. Let Rely Services do everything else.
  • Beneficial for both Small and Big Organizations - Often new customers will start a conversation with: "my operation isn't large enough to outsource these services." Actually, you're probably just the right size to benefit from BPOs scalable services. Small bank or multi-national lender, you'll be a good fit.
  • Eliminate Hiring Costs - Mortgage Process Outsource Firms are professional operations delivering on time and budget. They are completely transparent, so you know exactly what kind of job they're doing. Your outsourced team works for you and has your success as a top priority.

Determine Your Needs

It's hard to know exactly how much help you need. In some industries, you can hire one employee to perform multiple tasks; however, its specialized nature makes it hard to double-dip with the Mortgage Industry employees. For example, a licensed mortgage processor has a different skill set than an underwriter and vice versa.

It might not be an issue when you know you need a full-time employee in a specific area. But what happens when you aren't sure? You'll have to choose between over hiring or understaffing. Neither option is optimal given the time, cost, and effort involved in the hiring process. all that changes with the flexibility of a BPO.

You Deserve the Best! Mortgage Process Challenges - Tame The Tiger! You need to Outsource. But With Who?

Using Rely Services as your partner will save you more than time and money. Since they are constantly refining their business methods, their constant pursuit of perfection will benefit your own operational practices. Contact Rely Services today for a detailed evaluation of the many ways we can make you more successful. AND TAME THE TIGER!

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Outsource Accounts Receivable Services. Let's start at the beginning.

You build your Medical Practice step by step, piece by piece. With a plan and some backing, you launch, and if you've done it right, survive those treacherous first months and start to flourish. The path to success is never, ever easy. Long hours, midnight phone calls, weekends in the office, the challenges all new start-ups face.

The last thing you want to spend a lot of time on is Accounts Receivable. Sure, you need to get paid for that all that work you've done, but AR has a way of moving to the bottom of the "to do" list.

Remember, Accounts Receivables is an accurate gauge of your customers' ability or willingness to pay their bills, to pay you! Knowing that can be key.

Accounts receivables include the management of endless reports dealing with insurance claims and reimbursements, collection analysis, bad debt reviews, and write-offs. The pain keeps piling up! Outstanding shares or delayed collections can put a lot of pressure on an otherwise thriving practice. State and federal regulations increase paperwork. Shifting insurance coding methods can delay reimbursement since the slightest error will cause a denied claim.

Before things get out of hand, why not bring on board a team of professionals that will make your Accounts Receivable Services their #1 priority? Outsourcing these services is not only cost-effective but lets your core team concentrate on driving sales and expanding your business.

How do you handle Accounts Receivable efficiently and accurately? Why do some medical practices continue to lose money on the process when there is an alternative? Accounts Receivable Management. Many practices and hospitals choose to Outsource Medical Accounts Receivable Services and save both time and money.

Like other "Back Office" functions, AR is a natural for Accounts Receivable Management, or Outsourcing, going offshore and partnering with a BPO to Outsource Accounts Receivable.

You Can Make Everything Work For You!

Outsourcing is the complete solution for Revenue Cycle Management.

  • Improve Your Billing And Payment Process - with an efficient Accounts Receivable partner. They will handle the Insurance Verification process quickly and accurately. The billing is done and out within 24 hours. The same holds true for the insurance coding and notification of the claim. The process begins with the claim process and the billing for the patient's co-pay. Routinely, that should take no more than 30 days. If it takes longer, it gets a red flag and goes to the queue's front.
  • Reduces Administrative Overhead generally speaking, to outsource accounts receivable services saves you money with any services used. But Accounts Receivable can be costly, so any economies will help. You'll get the most bang for the buck by outsourcing this function and getting an experienced, professional team that will go the extra mile for you. Remember, you'll skip all of the headaches associated with hiring extra staff.
  • Speed Up Collections - it's no secret that a dedicated team can stay on top of the collection process, and get payments due faster. Unlike using your in-house staff, which usually has other duties, It's their only duty, so they spend all of their time on it. It's not done "when I get a chance." It's the primary function of a skilled, experienced team that works only for you.
  • Skip The Need For A Dedicated Document Management Department - when you move your accounts receivable staff out of your office and to the other side of the globe, suddenly, there's a renewed dedication to delivering Healthcare, ONLY Healthcare. Your professional staff can spend more of their time caring for patients, which is why you started practicing medicine in the first place.
  • Saves Time And Operational Costs - as mentioned earlier, the cost saving is stupendous. What could you do with a saving of 40% and more by using an outsourced AR department? Suddenly, new and advanced equipment might be within your budget. You might be able to hire that additional staff member you need. The latest diagnostic procedures may now be affordable, thanks to the savings realized by going offshore with AR.

Take a Closer Look at Outsourcing Accounts Receivable.

At this point you probably are thinking that the advantages of outsourcing make it worth exploring. But wait, this is a big step and you don't want to not ask all the right questions. So search around, find some recommendations, and see what the candidates have to offer.

But start your search with Rely Services, a outsourcing pioneer that for 20 years has been the “go to” BPO for AR services.

Using Rely Services as your AR partner will save you more than time and money. Since they are continually refining their business methods, their constant pursuit of perfection will benefit your operational practices. Contact them today for a detailed evaluation of the many ways they can make your business more successful.

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Why is data management critical? For most businesses, data is at the core of all operations and processes. Therefore, data management must be efficient, secure, timely, and accurate.

Before we fully address why data management is so critical, it is essential to define data management. Data management refers to the practice of collecting, storing, using, processing, and protecting information that is valuable to your organization.

Effective data management means that all critical data is accurate, available, and accessible. With company data at your fingertips, you can make the most informed strategic decisions. Data is a powerful tool for business success, which makes the management of such data most critical.

What Is Data Entry?

When it comes to the importance of data and data management, data entry also plays a significant role. When considering why data management is critical, understanding the concept of data entry is extremely important.

Data entry actually can refer to several different processes and procedures, but it generally involves individuals inputting essential data into a company system. Before you can strategically utilize the power of data, data entry must be done efficiently and effectively.

To properly make informed business decisions based on data, data must be entered accurately and securely. Some businesses choose to enlist help of data entry services provider so that this first, crucial step is taken care of by experts.

How Big Of An Impact Does Data Entry Have On Modern Companies?

Companies today are fundamentally dependent on data. As corporations and businesses realize the importance of accurate and efficient data entry, more emphasis must be placed on data entry management.

Modern companies and data management go hand-in-hand. If your business is not correctly managing data, your company does not truly qualify as current. To be a modern company today, data entry is fundamental. Data is the starting point for successful business operations and decisions, which is why management is critical.

When discussing why data management is critical, it is essential to note what a significantly positive impact effective data entry management can make. Listed below are some of the ways companies can strategically utilize data entry for success:

  • Make Informed Business Decisions – Data is such an important asset for corporations to utilize because it offers you factual information to guide business decisions. With data entry management, you can access relevant data to make business decisions that are grounded in facts and evidence.
  • Optimize Business Operations – When asking why data management is critical, one of the main reasons is because data entry management effectively optimizes all processes, functions, and procedures. Optimization ensures efficiency, which is crucial for success.
  • Increase ROI – When you optimize business operations with data entry management, you can reduce costs, which ultimately increases your return on investment. Prioritizing data entry management can also increase your profits with the informed business decisions that it fosters.
  • Improve Protection & Security – Data-related problems and risks are common, primarily when amateurs are tasked with handling big data. With successful data management, your valuable company information will be stored securely so that it remains private.

How Successful Data Management Gives You An Edge Against Competitors

Many people who ask why data management is critical also want to know if data management will make them more successful as a business, which is true. As previously mentioned, effective and efficient data management provides many benefits.

One of the most important benefits that strong data management provides is that it makes you stand out against competitors. Managing your data strategically and efficiently will do just that.

With successful data management, you instantly have an advantage over competitors. Below we have listed some of the ways in which successful data management makes you stand out:

  • Be In Tune With Your Audience – One of the main reasons why data management is critical is because it allows you to get to know your stakeholders on a deeper level. With concrete data at your fingertips, you know exactly how to best communicate with your most important clients, customers, and more.
  • Improve Marketing – Because data gives you insight on how to best communicate with your audience, you can custom-tailor your marketing campaigns and messages using data.
  • Create A Strong Foundation For Business Analytics – Successful data management is the foundation for all analytical business operations. With this strong foundation in place, you can easily make informed, strategic business decisions grounded in analytics, which is a big competitive advantage.

Your Trusted Data Management Partner - Rely Services

Rely Services is a leading data management services company. Data management creates a strong foundation for business analytics, which can be strategically utilized to foster success and stand out among your competition. Rely Services works closely with clients to ensure that all of their data management is taken care of efficiently, cost-effectively, and accurately to help businesses succeed.

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Product Data Entry. For both wholesalers and retailers, keeping your ecommerce site up-to-date is vital to your business growth. In fact, not making sure that your offerings are accurate and available could spell disaster! So, the Importance Of Product Data Entry cannot be overstated. Yes, Product Data Entry is a time-consuming and challenging task for your staff (if they're not well-trained and skilled) to stay on top of, and mistakes can have severe consequences for customer engagement.

Blame Amazon, since they set the bar so high for retailers, but like it or not, all eCommerce vendors are held to the same standard. You may not have the resources (and who does?), but consumers expect your eCommerce Data Entry to be on par with Amazon. So how do you keep up? If you could hire a turnkey Product Data Entry Services provider and pay less for the service than you do for an in-house staff (a whole lot less!), wouldn't you? For so many enterprises of all sizes, in all sectors, the answer is "yes"! They choose to Outsource Product Data Entry Services, and it can work for you as well.

As we all know, customer satisfaction is a critical element of customer retention. It pays to always keep that idea paramount in your marketing and delivery systems. A customer frustrated by ordering something only to find that it's not available probably won't be coming back. We also know that staying on top of that data entry work is a manual task that requires training, skill, and most of all, time.

Here's How Outsourcing

Product Data Entry Services Can Help You

Down to the details. Outsourcing your product data entry services can mean significant benefits in almost any way you can measure it. Here's how.

  • Improve Productivity - Since product data entry is now off your list of things to do, you and your staff can devote more of your precious time to building your business! Customer engagement, marketing, staff training, all the other things where your time can be better utilized.
  • Save Time - As mentioned earlier, time may be one of your most important assets. How many of us have only wished "we had more time" to complete a project? Well, outsourcing product data entry can give you that time.
  • Cost-Effective - This is a significant point. If you can get the job done faster, more accurately, and for 60% less money, well, wouldn't you?
  • Data Security - If you're worried about keeping your data secure, well, don't. Business Process Outsourcing is probably one of the most secure data transmission systems available. Their business depends on keeping their customer's data safe.
  • Quality Service - BPOs continuously train and upgrade their teams' ability to be quick and accurate. Not only are they professionals, but they can do the work faster and more accurately than one of your staff that only does data entry "part-time."
  • Improved Customer Experience - Back to where we first started this conversation. Improving the CE is a vital part of customer retention. "give the customer what they want" is an ancient saying that still holds.
  • Latest Tech - Since Outsourcing product data entry services is a very competitive game, the best outsourcing firms always upgrade their hardware and software. Specialty software designers are quick to supply them with precisely what they need.
  • Improved Accuracy - If your job, your only job, is product data entry, it stands to reason that you would be pretty good at it. Factor in a culture that strives for perfection demands perfection. BPOs want and need those individuals, so that's the kind of people handling your account.
  • 24/7 Support - A professional BPO will offer you 'round the clock instant response to your questions or needs. Service and accuracy are often what will differentiate between outsourcing firms.
  • Improve Focus on Core Duties - The result of all of the above is an opportunity for you and your team to be more involved in the core functions that got you into your business in the first place! You can look at it as a kind of invigorating rededication to purpose.

You Deserve The Best.

Rely Services.

It takes a team of qualified, skilled, and experienced professionals to make your Product Data Entry project successful. This is precisely what Rely Services can offer you. And at a fee that will significantly lower your overhead and allow your key players to concentrate on making money.

Using Rely Services as your partner will save you more than time and money. Since they are continually refining their business methods, their constant pursuit of perfection will benefit your operational practices. Contact Rely Services today for a detailed evaluation of the many ways they can make you more successful.

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Outsourcing Revenue Cycle Management. "Turn, Turn, Turn" as the old folk song goes, "A time to gain, a time to lose." And of course, old Pete Seeger had it right. The world and business go through cycles. But in the Healthcare field, no one wants to lose. That's why there's a Revenue Cycle Management Services. As the name implies, Revenue Cycle Management (RCM) is the method of identifying, collecting, and managing a medical practice, a hospital, or clinic's payments from patients or insurance companies.

In other words, it's where the money comes from! And without an efficient way to collect all the money you're owed, you're going to find yourself in trouble very fast. In the Healthcare Industry, with high costs, an aging population with limited income, and the employment chaos caused by the COVID 19 pandemic, not to mention uninsured patients suffering from it, Healthcare Revenue Cycle Management is more important than ever.

That's the reason so many Healthcare Providers of all types and sizes have turned to RCM Outsourcing; they understand the advantages of hiring someone they trust to handle their money.

But having an RCM Outsourcing Partner does even more. It can slash your overhead by 40% or more!

Benefits From Outsourcing Revenue Cycle Management

Let's face it. People get into the Healthcare field mostly because they want to help people. They want to focus on patient care and improving the quality of life in the face of injury or disease.

They don't want to focus on coding, billing, and the rest. But they also don't want to waste money.

This is why Outsourcing has saved so many practitioner's money.

Here are some of the ways:

  • Increase Efficiency: RCM Outsourcing those tasks with an experienced partner can remove a lot of speed bumps in realizing income. They can handle all the intricacies of the coding and billing process, without constant input from you or your staff.

  • Focus on Patient Care: Using Medical Billing Outsourcing Services, and not using your in-house staff to handle the money matters, you'll have the additional workforce to take care of patients or extra money for facilities upgrades, newer equipment, and increased training.

  • Manage Staff: With additional time and funds available, you'll be able to more efficiently manage your existing staff and contribute to their training and income, improving their skills and retention.

  • Access to Skilled Personnel: Using RCM Services and the savings you'll realize, you'll be able to hire more skilled staff members to handle some of the functions you might be sub-contracting now.

  • Timely and Improved Reimbursements: Outsourcing Revenue Cycle Management means there will be a full-time, dedicated accounts receivable staff that works on nothing but getting the funds you’re owed- from either patients or Insurance providers.

  • Reduced Billing Errors: Since billing, and only billing is what RCM Companies do, and since they continuously train and upgrade their skills, you'll see an immediate decrease in errors- both from coding and submissions.

  • Industry Changes: Will be easily incorporated into the process. Again, because your Outsourcing RCM Partner has a dedicated staff, the seemingly constant procedural changes in standards and requirements will not affect the cash flow.

  • Reduced Denial Rate: What happens when the patient's claim is denied by their insurance provider? This means that the claim needs to be re-examined for errors. Outsourcing RCM, all of the information will be verified the first time it’s submitted.

  • Improved Payments: Your RCM Outsourcing Agency has just one goal: make the revenue stream smooth and steady. Make the income dependable and continuing so you can know that you'll be paid for the services rendered.

  • Guarantee Quality Output: This is something your RCM Partner will, or should be able to confirm. They get it right, or you don't pay. Error-free, and with total transparency, you should be able to depend on them.

Outsourcing Revenue Cycle Management? Protect Yourself.

While expanding your business and cutting costs is your strategic goal, you need a plan to get there. Look at Rely Services credentials, talk to their current clients, and examine their work and professional staff. They're in this for the long run, just like you. For over 20 years, Rely Services has built a reputation for attention to detail in the Outsourcing Revenue Cycle Management Sector.

  • HIPAA compliant - All team members are certified and HIPPA compliant. their methods meet or exceed the stringent industry standards, and they are continually updating our training

  • Cost-effective - Teams can save you capital, so you can invest it in expanding your enterprise. They routinely save clients 40% or more, and services include one of the most highly trained teams of professionals in the business.

  • Data Security - Rely Services has never lost any data to power, system, server, or network failure. They've never had a random or targeted data breach. All of your data will have multiple redundancies, so even catastrophic events will not result in a loss.

  • Short Turnaround - The global reach of Rely Services can result in head-snapping speed for your project's data. Input, compilation, storage, and retrieval, our speed will astound you. Give them the work at the end of your day, and you’ll have it back in the morning

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Data Entry Outsourcing, or "have you ever seen a business drown?"

Not in water, or debt, or unfulfilled orders, or uncollected receipts payable.

No, drowning In paper.

Before the turn of this century, most businesses were drowning in paper. Every document generated by any business was printed on paper, sometimes multiple copies for distribution, read off of paper, filed on paper, and eventually stored on paper. The ubiquitous file cabinets grew larger and larger. Entire industries developed to handle the printing, distribution, and storage of paper documents. Entire forests perished for these documents. FedEx was founded on the idea of getting paper to and from customers overnight! Entire mega-sized warehouses existed to store nothing but paper. Looking at that period in business history from today's vantage point makes the practices seem wildly inefficient.

And they are. But replacing that paper was and is a painful process. Hopefully, you've already made that transition. Regardless if you have or haven't, read on.

If you've already gone digital, you are still confronted daily with gigabytes of digital data – most of it vital information that can contain data to help you determine logistical needs, sales projections, profit margins, basically the keys needed to make an enterprise successful. That data needs to be quickly and accurately entered, stored, cataloged, and be searchable with any number of criteria.

Paper still exists, and all your paper documents need to be accounted for as well. With the advent of digital technology, it is now possible to convert physical documents like newspapers, periodicals, books, images, texts, and other business paperwork into a digitized version such as pdf, doc, Xls, XML, jpeg, gif, HTML, CD, tape, or Zip disk.

Enter data entry services, or more specifically:
Data Entry Outsourcing

You can imagine the staff and equipment needed to accomplish all of this! If you can partner with a Data Entry Outsourcing Company, THEY supply the entire process, so you don't have to hire and train the staff, buy the infrastructure, acquire the office space, handle the HR requirements, and keep tabs on their work. In other words, if you choose to Outsource Data Entry Services, that giant task becomes manageable.

"OK, This Sounds Like A Good Idea,
But I Could Do Data Entry In-House!"

Sure you can, but then you have the additional headache of facing the most common manual data entry challenges:

  • Spike in error rate - since you've hired and trained your data entry department, it's going to take a while to get them up to speed. During that time, you'll see an error rate that you'll never have to suffer through if you had outsourced the work to a team of experienced, trained professionals
  • Long turn-around time - new data entry workers start slow – they'll make mistakes as noted earlier, but they'll also be slow to find and correct the errors. Data entry outsourcing with specialists with years of experience is both fast and accurate. And as a bonus, since they are usually on the other side of the world, the work you assign them at the end of your day is completed and waiting for you when you come in in the morning.
  • Quality control - if you're still using a new in-house team, you're going to suffer some growing pains that stem from their inexperience. Chief among them is QC. It will take them longer to check their work, submit it, make the corrections, and resubmit it before it is approved. Not the case with an experienced Data Entry Outsourcing team.
  • Unclear fields and formatting - again, if you're starting from scratch, part of getting up to speed is finding a formatting style that suits your needs. No matter if it's an Excel document or a PowerPoint presentation, there will be some confusion as to just how everything must look and work. With an outsourced data entry team, you won't have to do this on your own. They will listen to your needs and present you with a time tested plan tailored just for you, eliminating weeks of trial and error.
  • Increasing workload - as your business grows, you'll probably have to bring on new staff, training them, or at the least show them your stylebook. With outsourcing, you can scale your team to the size that fits, adding personnel in busy times and shedding them in slack time. The size of your team will always be exactly right.
  • Distraction from your core functions - no successful enterprise ever made it to the top on data entry alone. Data entry is an essential back-office function, but it is a back-office function. Concentrate on your core business process, and let an outsourced data entry partner handle the rest.

What Exactly Can Outsourcing Do To Overcome Data Entry Challenges?

  • Since your staff doesn't need to do the data entry, they can hone other skills, the skills you probably hired them for. At first doing some of those back-office tasks with your existing staff might seem the right move, both from an economical and efficiency standpoint. But that's a false illusion, as many new businesses find out the hard way.
  • With back-office functions out of sight, suddenly, the office is more energized. Your team is all focused on the same goal - making your venture a success. If you follow sports, it’s not uncommon to see successful teams not repeat a championship. The best players often get a better deal elsewhere after winning it all. It's a good way to “team build” when everyone is focused on the tangible success. Keep your best players on the field and hire another team to handle the back-office.
  • You can expand your data entry to fit your needs. And scale it back if you need to. And with outsourcing, you only pay for what you use. This is one of the prime attractions for partnering with a BPO. To be able to use, and pay for, only the resources you need RIGHT NOW, is a luxury not often seen in business. It’s the reason the smart money in all business sectors are more and more turning to BPOs for their back-office functions.
  • Since you're not paying for the hardware and the software, your outsourcing partner will handle all the upgrades in tech. “Buy or Lease?” is a question that is more and more pertinent in todays’ business world. For enterprises of all sizes, today's  answer is “lease”. Skip the hardware race that may see you having to upgrade every year in order to run the newest, faster software that is released every year. It’s a never-ending cycle that you can avoid by having someone else make the capital investment in the latest tech gear.
  • The key to all these gains in efficiency is “Outsourcing Data Entry”! Moving all of those “Back-Office” Data Entry activities to a third-party partner. Someone who has years of experience, a highly trained workforce, and the best of tech, makes everything in your operation run faster, more accurately, and with a huge savings in cost. They handle the continuing training, all of the personnel problems, all of the upgrades to systems, networks, and servers. They will be responsible for the network security and can deliver whatever you need them to do.

Data Entry Outsourcing. You Deserve The Best!

Using Rely Services as your data entry partner will save you more than time and money. Since they are continually refining their business methods, their constant pursuit of perfection will benefit your operational practices. Contact them today for a detailed evaluation of the many ways they can make your business more successful.

 
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Business process outsourcing has changed, advanced, and grown this year, and 2021 is already rapidly approaching. BPO companies should take note of the expected top BPO trends for 2021 to adapt successfully. The top BPO trends for 2021 are as follows:

Emerging Technology

Social Media Management

Cloud Computing Investments

Advanced Skills for BPO Professionals

Startups as BPO Customers

Omnichannel Communication

Transparency

Continued Growth in India, Malaysia, &The Philippines

Emergence of BPO In Bulgaria, Romania, Egypt, Mexica, & Colombia

These are the main BPO trends that are predicted to take shape in 2021. BPO companies that take an active approach to these top BPO trends for 2021 will have a significant competitive advantage. We will explain each trend in more detail below.

Emerging BPO Technology: Robotic Process Automation

BPO is heavily dependent on cutting edge technology to accomplish processes efficiently and accurately. Because of this, BPO companies are continually adapting to utilize emerging technology. One of the top BPO trends for 2021 in the tech category is the use of robotic process automation or RPA.

RPA refers to the use of automated systems and robots to accomplish repetitive and tedious business processes. RPA allows BPO companies to achieve more work at a faster rate for a fraction of the price.

There are several different RPA software choices and technology to choose from, depending on your company's needs. One of the great things about RPA is that it can be easily integrated into your workforce's existing technology without disruption or invasion.

RPA is crucial for BPO companies to implement if they want to increase their efficiency, profit, and capacity. Because of this, RPA stands out as the leader in emerging BPO technology and one of the top BPO trends for 2021.

 

BPO's New Use of Social Media Management

Social media stands out as one of the most lucrative and influential business tools. Social media offers invaluable consumer data and insight to understand how people engage with your brand.

Creating a distinct and eye-catching presence on social media is a large undertaking and hiring experienced social media experts is not cheap. However, BPO has recently started to offer social media management, which gives businesses a more cost-efficient and effective way to improve social media use.

Business process outsourcing has been serving the customer service industry since its inception. In the past, BPO has served this sector mainly through call centers. BPO has recently adopted social media management tools and capabilities to help companies properly utilize social media at a low cost.

Social media management is a brand-new area of BPO that both BPO service providers and BPO customers should take advantage of in 2021. As technology continues to advance and provide valuable consumer insights, BPO companies should offer a range of services in social media, including but not limited to:

Interactive Voice Response/Live Chatting

Social Media Monitoring

Business Intelligence

Consumer Insights

Customer Service Responses

Online Review Management

BPO companies that offer social media management can provide their clients with more comprehensive services and solutions in BPO. Fortunately, social media platforms are designed for easy usability, which means that BPO companies can quickly and easily learn the ins and outs of social media.

More Investing in Cloud Computing

Cloud computing refers to using the internet for computing resources, like databases, networking, storage, servers, and more. Cloud infrastructure allows businesses to carry out critical functions like data management and communication entirely online.

Cloud computing allows BPO service providers to maximize speed, efficiency, security, flexibility, and accessibility. Consequently, companies have increased theircloud computing investments in recent years, which is expected to continue in 2021.

Advancing Skills for BPO Professionals

As BPO services are advancing, BPO professionals are doing the same. BPO professionals must be highly trained and adept at carrying out a wide range of business processes to succeed in the industry.

BPO professionals that can effectively and efficiently learn new skills will stand out in the hiring and promotion processes. The three top BPO skills that will be in high demand for BPO companies in 2021 are:

Robotic Process Automation (RPA)

Big Data Analytics

Artificial Intelligence/Machine Learning

Experience in these areas is a huge asset for any BPO professional. With this experience and expertise, BPO professionals can make significant contributions to the BPO company that they work for, and they can take on leadership roles.

Startup Companies: The New BPO Customer

Creating a new business is not an easy feat. Startup companies have countless decisions to make about how to operate, function, and profit. Fortunately, business process outsourcing offers several significant opportunities for startup companies to take advantage of.

When startup companies utilize BPO services, they can focus on core business functions, while expert professionals take care of non-core business functions. This partnership allows startups to delegate tasks, consult different perspectives, expand their network, and, most importantly, save money.

2020 has been a roller coaster of an economic year, and startups are at risk in the future. BPO offers startups an affordable way to execute all operations without wasting any time, money, energy, or resources.

Stronger Communication Tools & Omni channel Communication

Additionally, one of the top BPO trends for 2021 is stronger communication tools, including omnichannel communication. Omnichannel communication technology allows for unified communication across all channels.

The utilization of omnichannel communication benefits both employees and consumers, as they have a singular and seamless communication experience. BPO companies can utilize omnichannel communication for their company's work as well as offer omnichannel communication to clients and consumers to improve the user experience.

The Importance of Transparency in BPO Relations

Transparency in business has become quite the buzzword. Consumers and corporations crave transparency from every purchase, negotiation, and partnership, and the BPO industry follows suit.

Transparency is one of the top BPO trends for 2021 concerning pricing, policies, and contracts. BPO service providers must be transparent with their clients to gain their trust and ensure satisfaction.

BPO is all about trust. As outsourcing involves bringing a third-party organization into your business's crucial matters, companies only want to work with BPO companies that they can trust. One of the best ways to gain trust is to be transparent and up-front from the start. BPO companies that are transparent will be successful in 2021.

Continued Growth in India, Malaysia, & The Philippines

India has been at the center of outsourcing since it began as an industry. According to the National Association of Software and Service Companies (NASSCOM), 40% of India's BPO workforce, mainly in IT, will upgrade their skills as BPO continues to grow in the next 5 years.

Malaysia is also expected to continue growing in the BPO industry, as it boasts an extremely stable business environment, especially compared to India and China. This makes Malaysia a desirable and competitive country for BPO services, and their success is predicted to continue in 2021.

The Philippines' growth is also one of the top BPO trends for 2021. In the Philippines, BPO services are predicted to cover 15% of the global outsourcing market by 2022. India, Malaysia, and the Philippines have been outsourcing powerhouses for a while now, and their growth should continue as one of the top BPO trends for 2021.

Emerging Companies for BPO Success: Bulgaria, Romania, Egypt, Mexico, & Colombia

In addition to the continued growth in established BPO countries, new countries are emerging with BPO services each day. Bulgaria, Romania, Egypt, Mexico, and Colombia are advancing and growing in the BPO industry.

Bulgaria and Romania stand out from other outsourcing destinations because they are part of the EU, which means most professionals speak all major European languages and have technical expertise.

In Latin America, internet usage has soared exponentially in the past two decades, which has unveiled considerable talent. Mexico’s political and economic stability has caused over 500,000 people to become professionals in the BPO sector. Additionally, Colombia’s government sponsors technical training, which is a huge asset.

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What Is Back-Office?

Like the actors in a Broadway play, the Front-Office gets all the attention. But it couldn't function without the backstage lighting technicians, stagehands, make-up artists, and the costume department. Call them Broadway's Back-Office.

Sometimes life just isn't fair!

The back--office is where the support work for the front office is done. The front office is the "face" of the company, used to make sales and interact with customers and clients. Back-Office Services are all the resources of a company producing a product or service, and all the other work that isn't seen by customers, such as logistics or administration. Although a back office's operations are seldom seen, they are a significant reason for a business' success. They include functions like:

  • Accounting
  • Administration
  • Planning
  • Logistics
  • Human Resources
  • Record Keeping
  • Maintenance
  • It Services
  • Clearances
  • Legal

It's an extensive list, and you may not need all of these services. Therein lies the beauty of outsourcing. You can scale the services you use, and only pay for what you use.

OK, But What Exactly Is Back-Office Outsourcing?

Mention outsourcing back-office functions to a small or medium-sized company, especially one that's just starting up, and a typical reaction might be: "Outsourcing? I'm just starting! I'm way too small an operation for outsourcing to work for me!" But the truth is a company like that is precisely the one that needs to utilize outsourcing. Here's why:

  • Even with limited resources, a start-up can hire an entire back-office operation so the principles can concentrate on building the business.
  • Costs involved in outsourcing are about 60% of which you will pay to have those back-office functions in-house.
  • There's no training, no infrastructure, or office space required for your outsourcing partner to supply you precisely with the team you need.
  • And there's no hassle with interviewing, hiring, training, payroll, insurance, or taxes. None of that is your worry anymore.
  • And maybe best of all, outsourcing lets you scale your resources! Now you can have the workforce that's best for you, the right size, and the right talent, so you're not wasting any of your capital.

Since Front and Back-Office Operations are so different, and the Front-Office is your business's face, you can't offshore those functions. But more and more enterprises of all kinds and sizes are turning to offshore Back-Office Support Services. Using Back-Office Support Companies means that all or some of their back-office operations have been outsourced. There are many options when choosing Back-Office Outsourcing Services.

What can Back-Office Business Process Outsourcing do for you? Is there an advantage of Back-Office Outsourcing? There are many advantages.

  • Catalogue Management
  • Data Mining
  • Data Entry
  • Data Management
  • Transaction Processing & Management Services
  • Logistics Services
  • Billing and Invoicing Services
  • Purchase Order Processing Services
  • Data Conversion
  • Document Digitization
  • Document Indexing and Archiving Services
  • Application Processing
  • Database Management,
  • OCR Services
  • Retail and eCommerce
  • Accounting Data Entry

All of these business processes can be offshored with significant savings in virtually every way you can think of-

Time - because BPOs can quickly ramp up, and on day one, offer you a complete back-office solution.

Money - because you only pay for services you use, there's no waste or downtime you're on the hook for. There are no "training period" costs that you need to absorb. There's no "vacation time" expenses, no "payroll" expenses, no "insurance" expenses… the list goes on and on.

This is precisely why outsourcing back-office can deliver the competitive advantage you need to stay ahead of your competition.

Types Of Back Office Operations Which Are Outsourced:

Here are just a few things that offshore outsourcing can do for your enterprise.

Human Resources - Outsourcing this department will give you the chance to only talk to the very best of the candidates applying for a position. All of the background work, all of the application process, the all of the paperwork involved with hiring a new employee will be handled by your offshore partner.

Data Entry Services - Leveraging outsourced data entry means having the latest tools available- skilled personnel, state of the art hardware and software, timely input, and access.

Financial services - We're talking about all kinds of financial services. Payroll, accounts receivable, accounts payable, bookkeeping, Financial forecast team, and investing. If you outsource all of these functions, just imagine the savings!

IT Support - This would include network monitoring and management, security, they had a backup, cataloging, retrieving Data, server in system upgrades, hardware, and software maintenance. This means you can eliminate your in-house IT services.

Marketing - Outsourcing marketing is vastly different than it was 20 years ago. Your entire marketing effort can be outsourced. This means trained, experienced experts, handling your emails, your social media presence, your ad buys, and your SEO.

No matter what sector your enterprise is in, by now, you may be ready to talk about how outsourcing back-office functions can help you slash costs, remove obstacles, speed up your process, and increase profits. Using Rely Services as your Back-Office Services partner will save you more than time and money. Since they are continually refining their business methods, that endless pursuit of perfection will benefit your operational practices. Contact Rely Services today for a detailed evaluation of the many ways they can make you more successful.