10 Undeniable Benefits Of Outsourcing Transcription

Outsourced transcription can save time and money for your business while boosting accuracy. Discover benefits, FAQs, and top services like Speakwrite.

“Wait, what did he just say?” 

We’ve all had to rewind when listening to a favorite podcast or binge-watching Netflix. When you’re caught up in the moment of the story, having an accurate understanding of what’s being said is a must. 

Now, imagine having to rewind hundreds of times because you’re transcribing audio to text for your job. Sound daunting? Tedious? Time-consuming? Eventually, you’re bound to cut corners and compromise on accuracy. 

However, many professionals are finding ways to buy back the time it takes to transcribe. Rather than waste precious company hours, many organizations opt to outsource transcription. 

Transcription outsourcing is a helpful tool for professionals who need audio or video recordings converted into text but don’t want to waste time doing it themselves. 

From cost efficiency and time savings to quality assurance and global reach, here’s everything you need to know about why you need to outsource your transcription.

What Does 'Outsourcing Transcription' Mean?

Outsourcing transcription is when you submit audio or video files to a third-party transcription service to transcribe them into written text. 

You can submit recordings from interviews, meetings, lectures, legal proceedings, or other spoken content for conversion to written form. Transcription outsourcing has many benefits, including cost efficiency, time savings, and access to the expertise of transcription professionals. 

Explore transcription services. 

Who Mainly Transcribes M4A Files To Text?

M4A transcriptions are used by musicians, podcasters, journalists, and across industries for the use of converting audio into text for a deeper analysis. This spans from archiving and record-keeping to efficiency and convenience.

Types of Outsourced Transcription Services

There are different approaches to transcribing audio or video material. Each approach has a slightly different focus and level of detail. Here are few of the most common types of outsourced transcription services. 

Verbatim Transcription 

Verbatim transcription is standard when transcribing legal proceedings and other situations where every detail needs recording. It keeps every spoken word, filler word, repetition, and even non-word sounds like laughter or coughing. 

Learn more about verbatim transcription. 

Intelligent Transcription

Intelligent transcription retains essential content from the transcript but eliminates false starts, filler words, and repetitive phrases. Business meetings, conferences, and presentations are transcribed this way to preserve the speaker’s intended message while editing out distractions.

Edited Transcription

Edited transcription services refine the spoken transcript more than intelligent transcription. Used commonly in media, publishing, and marketing contexts, edited transcription delivers a more readable, grammatically sound, and structured document from the original transcript. 

Legal Transcription 

Legal transcription services specialize in transcribing legal proceedings, such as court hearings, depositions, and legal dictations. 

Accuracy and attention to detail are paramount in this type of transcription to ensure that every word spoken is accurately captured, including nuances in language and tone.

Explore legal transcription services. 

Medical Transcription

Medical transcription involves converting audio recordings of medical reports, patient histories, and other healthcare-related documentation into written text. 

Medical transcriptionists must understand medical terminology well and adhere to strict privacy and confidentiality regulations, such as HIPAA, to ensure the security of patient information.

Business Transcription 

Corporate transcription, also known as business transcription, focuses on transcribing various business-related content such as meetings, interviews, focus groups, and training sessions.

These transcripts are often used within the organization for record-keeping, analysis, and reference purposes. 

Explore business transcription services. 

Financial Transcription 

Financial transcription involves transcribing audio or video recordings related to financial matters, such as earnings calls, shareholder meetings, investor presentations, and financial reports. 

Confidentiality and precision are critical in financial transcription to maintain the integrity and security of sensitive financial information.

Explore financial transcription services. 

Top 10 Benefits Of Outsourcing Transcription

While there are other options for transcribing audio and video files, there are many benefits to choosing to outsource transcription services. 

#1 – Cost Efficiency

Outsourcing eliminates the need for in-house transcription staff, reducing overhead costs like salaries, benefits, and training. You also avoid the upfront costs of purchasing and maintaining expensive transcription equipment and software.

#2 – Time Savings 

Delegating transcription tasks frees up time for your team to focus on core business activities, increasing productivity. Your workflow processes can become more streamlined when you can count on a transcription service to handle your transcriptions from start to finish. 

#3 – Flexibility 

Outsourcing firms can handle fluctuating volumes of work, providing services only when needed without the commitment of hiring and paying full-time employees to maintain an inconsistent workload. 

#4 – Access to Expertise

Professional transcription services offer skilled transcribers with experience in various fields, ensuring high accuracy and understanding of industry-specific terminologies.

#5 – Quick Turnaround 

Transcription companies often provide faster delivery times due to their focus on transcription tasks and the utilization of efficient processes and tools. Thanks to the systems and productivity of expert transcriptionists, you can easily meet tight deadlines. 

#6 – Enhanced Privacy and Security 

Reputable transcription services implement strict confidentiality measures to protect sensitive information. Data encryption protocols, secure file transfers, and data destruction are just some tools transcription services employ to protect your sensitive, confidential information. 

#7 – Quality Assurance 

Many services include a multi-tiered review process to ensure high-quality, accurate transcripts. You don’t have to worry about how it gets done, but you can still enjoy a quality finished product. 

#8 – Scalability 

Outsourcing allows your business to scale its transcription needs up or down based on demand–without the hassle of managing staff levels or maintaining a team dedicated to transcription. 

#9 – Access to Advanced Technology 

Transcription services use the latest technology and software, which might be cost-prohibitive for companies to acquire and maintain. Maintaining that technology is their job, so you don’t have to take on the burden of figuring out how to do it yourself. 

#10 – Global Reach 

For businesses needing transcription in multiple languages, outsourcing to a company with a diverse linguistic talent pool can provide accurate transcriptions in various languages.

How to Choose an Outsourced Transcription Service

You have specific requirements for your transcript and need it delivered reliably and on time. How can you choose a reliable transcription outsourcing provider

Use this checklist to decide which transcription service to trust with your transcription outsourcing. 

  • Quality. Does the provider have a track record of producing high-quality, accurate transcription? Review samples to ensure you’ll receive quality service. Human transcription services are 99%-100% accurate, whereas automated transcription services have error rates of 15%-19%. 
  • Cost. Does the provider’s pricing structure fit within your budget? Make sure to double-check for additional fees or charges you can expect. 
  • Turnaround Time. Can the provider complete your transcription project within the correct time frame to meet your deadline? You can also ask if they provide rush services. 
  • Security. What is the provider’s policy to protect the confidentiality of your audio or video recordings? Ask about their encryption protocols, data storage practices, and confidentiality agreements. 
  • Specialization. What is the provider’s specialization? For example, if you are in a niche industry (such as business or law), you may need a provider or transcriptionist familiar with the terminology. 
  • Transcription Types. Does the provider offer the type of transcription you need, whether verbatim, intelligent, or edited? Also, ask about time stamping, speaker identification, and other features they may offer. 
  • Customer Support. What is the provider’s method of communication, and can you rely on them to be responsive? Ensure you clearly understand the timeline and how to communicate questions or make necessary revisions. 
  • Technology. Does the provider have the proper transcription tools and software capabilities to ensure a professional end product? If that concerns you, inquire about their compatibility with your file formats, audio quality, and other technology requirements. 
  • Reputation and Reviews. Finally, does the provider have reviews, testimonials, or case studies from previous clients to prove they are reliable, expert transcribers? 

Top 5 Transcription Outsourcing Services

Depending on who you ask, people prefer different transcription services depending on their priorities and needs. However, these three services are top transcription choices: 

Speakwrite

Speakwrite distinguishes itself by providing 100% human transcription services without relying on AI or automated systems. 

Human transcription ensures 99%-100% accuracy and attention to detail, particularly important for industries such as legal and medical where precision is paramount. Speakwrite boasts a team of experienced transcribers, adept at capturing nuances in language and tone.

Explore human transcription services. 

Rev

Rev offers foreign subtitles and straightforward transcriptions, which can usually be completed within a few minutes or hours, depending on whether you opt for human transcription or automated transcription. 

TranscribeMe

This transcription service is popular because of its competitive pricing. It costs 0.79 per minute of recorded audio, so it’s perfect for customers needing budget-friendly transcription services. 

GMR Transcription

This service is one of the most well-established companies, offering Spanish translation, text-to-text transcription, and video transcription. Their pricing tends to be higher, and their turnaround is slower unless you pay fees for expedited services. 

GoTranscript

GoTranscript is renowned for its combination of accuracy and affordability, making it a popular choice among individuals and businesses alike. 

Additionally, GoTranscript provides additional services such as captioning, subtitling, and translation, making it a comprehensive solution for transcription and language-related needs. 

The SpeakWrite Difference

So, how is SpeakWrite’s transcription service different from other top service providers? 

  • We are a 100% human-powered service. Our transcriptionists are highly trained, and many are experts in legal terminology, court procedures, and law enforcement documentation. We do not rely on AI to transcribe your files. 
  • We work fast! You can expect to receive your transcribed document within hours of sending your audio or video recording. We know that fast transcription services can save you time and money. 
  • We offer straightforward pricing. SpeakWrite has no contracts, fixed costs, hidden fees, or monthly charges. We charge per completed word, so you will never be surprised by the price. 
  • We offer 24/7 availability. Our clients can submit audio files for transcription using our automated system anytime, day or night. 
  • We offer dedicated customer support. Our customer support team is knowledgeable about your industry-specific requirements and challenges. We are a go-to service for many needing reliable, same-day legal transcription
  • We prioritize security and confidentiality. Using advanced encryption protocols and strict privacy policies, you can trust us to protect your information. 

Outsourced Transcription: Frequently Asked Questions

Can transcription services handle specialized terminology or accents?

Yes, many transcription services employ skilled transcribers who are experienced in various industries and subject matters, including legal, medical, technical, academic, and more. 

These professionals are often proficient in handling specialized terminology, accents, dialects, and jargon specific to different fields.

How much does transcription outsourcing cost?

The cost of transcription outsourcing can vary depending on factors such as the length and complexity of the recording, the service provider’s pricing structure, any additional services or features requested, and any volume discounts or package deals available. 

Pricing models may include per-minute rates, hourly rates, or flat fees for specific services.

What should I look for in a transcription service?

When choosing a transcription service, consider factors such as accuracy and quality, turnaround time, pricing and billing transparency, customer reviews, and testimonials. 

You can also look at factors like customer support and communication, security and confidentiality measures, and any additional services or features offered.

Outsourced Transcription Is Just a Click Away

Any profession where paperwork and typing up documentation is a necessary burden can experience immediate gains in productivity and efficiency by leaving the typing to SpeakWrite. 

Upload an audio file, and receive your transcribed document in about three hours. You can try outsourced transcription for your business today

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