Significant accuracy and cycle time improvements can be achieved when Data Entry Services are utilized in Accounting. As an accounting company, you have to deal with vast amounts of data daily, which is time-consuming and tedious work. Stop spending myriad hours on data entry tasks someone else can do for you. Most companies outsource to accounting data entry providers to manage crucial financial data.
In accounting, you need to enter the correct digits into the right accounts to truly understand how the business is doing. With regards to data entry for accounting, all the information about a company’s finances is recorded, assessed, and produced as reports to let you understand your actual financial position. Outsourced accounting provides a streamlined accounting experience by handling the data entry for day-to-day transactions, accounts payable, accounts receivable, payroll, financial reporting, and other business processes in any accounting software or database.
Success Delivered to ARDEM's Clients
A client of ours had the task of completing an accounting audit within a tight timeline. The audit involved:
- Data review of labor time.
- Material purchases from thousands of invoices.
- The data reconciliation with payments made.
Data on labor time sheets and vendor invoices were in different formats. Data on forms appeared in different places, ruling out data extraction by simple OCR. It required intelligent interpretation of data from the different tables and forms. Data on timesheets and invoices were separately available on summary sheets for reconciliation.
Data Entry was required to transcribe the timesheets and vendor invoices to create a database. Data entry had to be done quickly and accurately to reduce cycle time. All the data was keyed accurately to ensure that the audit was 100% accurate.
Labor time and material charges were double keyed. Compare data checks and validation data checks were performed to assure close to 100% data accuracy. Data was then keyed from summary sheets, and reconciliation data checks were performed.
Data Entry Vendor Services - Accounting Specific
In the fast business world, accounting data entry is a must for every firm, irrespective of its size. If you have piles of account reports to be entered with high accuracy, outsource accounting data entry services to experts.
Specific Data entry services for accounting are given below:
- Accounts Payable Services – Automated accounts payable data entry services to streamline vendor bills to payment cycle.
- Accounts Receivable Services – Improved reconciliation process to increase cash flow.
- Bookkeeping and Accounting – Increased insights and reduced costs of staffing and management.
- Invoice Processing Services – Automated data collection from vendor invoices whether it is physical mail, electronic bills, or through web scraping.
Importance of Invoice Data Entry Automation
Invoices are one of the most common documents that companies need to automate. Invoice Processing involves OCR technology and automatic analysis to identify different data elements in invoices like vendor’s name, invoice date, transaction amount, invoice number, items, etc. All such aspects differ for all vendors. Invoice Processing automation uses data extraction applications to precisely configure and recognize the data.
Companies that receive paper-based invoices from many vendors can benefit from invoice processing technology. The more data an invoice has to hand-key into your accounting software, the more beneficial the automation is.
A robust OCR-based invoice processing solution becomes justifiable when you have piles of invoices to process every month. Accounting firms outsourcing accounts payable processing enjoys a high ROI from automation. It also benefits with additional security.
One of the major challenges with OCR technology revolves around the quality of the printed or handwritten text. The handwritten text differs by the person as their fingerprint. And, it can be too light or too difficult to read that require colossal interpretation. Here OCR technology intervenes.
Automation technologies – OCR and Data Capture Solutions can automate invoice and utility bill processing based on a well-defined process to increase efficiencies. This task can be performed by highly qualified personnel in the teams of business process outsourcing companies.
How Do You Deliver Success when Performing Data Entry for Accounting?
ARDEM data entry services are a complete solution package for every accounting firm and other companies in the finance sector. We serve our clients with Accurate Invoice Processing and Timely Vendor Bill Payments. Expert teams at ARDEM have the required expertise to meet our clients’ requirements and exceed their expectations.
Data Entry Process include:
- Understanding client’s Data Entry or Data Conversion needs
- Data verification and validation
- Perform data entry/conversion on the data sets
- Processed data in the designed output formats
- Perform validation and quality checks
- Transfer output to the client in their preferred formats and storage
Every dealer’s invoices data points are specified, allowing machine learning and artificial intelligence programs to collect and extract all fields of datasets in a fraction of the time.
Following a 3-way matching, high accuracy for each invoice or utility bill is ensured before sending for payment approval and streamlined utility bill management and invoice data management.
Ranked #1 Data Entry Outsourcing Company for 2022
ARDEM has the best data entry outsourcing company for 2022, again delivering success with the following benefits of its best data entry services:
- Finance Domain Expertise
With domain expertise in finance & accounting, certified and trained accountants in-house team, our data entry services for accounting are well-suited to different companies across industries.
- Qualitative Approach
It is necessary to adhere to stringent quality analysis procedures to provide high accuracy. With ARDEM, you can be sure about high data entry accuracy up to 99.9%.
- Quick Solution
Outsourcing helps you to obtain well-timed data entry services with up-to-date information. Know your financial stability and stay ahead of your schedule. Expert teams are agile and can quickly adapt to a company’s systems. It can work on Cloud Platforms efficiently and connect to your systems to push files. Scalable team size to support your dynamic accounts payable needs.
- Preferred Format
Accounting data entry experts in your outsourcing partner’s team are proficient enough to process the data in any format and provide you with your preferred format.
- Customized Data Entry Services
An outsourcing partner understands that every business is unique and needs data entry services accordingly. Data entry service providers are customizable to meet your explicit requirements.
- Data Protection
With Strict data security measures and policies, an efficient outsourcing partner can ensure the utmost safety of your data.
- Updated Technology
To maintain high efficiency for data entry services, outsourcing partners leverage technology and perform best constantly. ARDEM’s automation utilizes the technology strength of:
- OCR and ICR Data Capture
- Machine Learning and AI-based Solutions
- Multi-Sequence Software Bots Creation
- Programmatic Validation
ARDEM clients who need Accounting Data Entry Services send their vendor invoices, labor timesheets, and payment vouchers for data entry. When required, data entry can be completed in close to real-time- delivering output as a batch file or entering data directly into the clients’ accounting system. All data entry is done while complying with the strictest security protocols.
ARDEM Data Entry Solutions
ARDEM provides technology-based data and document management services, including data entry services, data capture services, survey forms processing, and document scanning services.
As the accounting statements need accurate and precise entry of records, the best solution for your company is outsourcing your accounting data entry services to ARDEM. Our clients appreciate accounting data entry services as –
- ARDEM accounting data entry services let you be free from non-core activities and achieve core competence with the best resource utilization. After outsourcing to us, our clients can spend their time in core business activities. Stay focused on your business to stay ahead of the competition in the industry.
- In-house processes increase your operational costs – one reason to prefer outsourcing your accounting data entry work to ARDEM with the most agile team. You can utilize your saved funds to give your business an extension as we will offer you the experienced and most talented team at affordable rates.
- Outsourcing accounting data entry services to ARDEM allow you to access the latest technology and accounting tools for higher data entry accuracy and make informed decisions.
- Our clients can rely on ARDEM’s data security systems to ensure data security and confidentiality.
- ARDEM offers various accounting data entry services as a BPO service provider (business process outsourcing company), ensuring high-quality outputs.
Applications for ARDEM services include Accounting Data Entry, Survey Data Entry, Medical Test Requisition Form Processing Services, Indexing Large Format Drawings, Medical Claims Data Entry Processing, Mailing List Data Entry, Data Entry from Customer Loyalty Cards, Customer Satisfaction Survey Data Entry.
ARDEM data entry services clients are located in New York, New Jersey, California, Texas, Colorado, Nevada, Arkansas, Oklahoma, Illinois, Massachusetts, Florida, Ohio, Missouri, Wisconsin, Virginia, Maryland, Kentucky, other states, and Canada.
ARDEM document scanning service clients are found in New York, New Jersey, Virginia, Maryland, Washington D.C., and Connecticut.
ARDEM provides Business Process Outsourcing and Business Process Automation Services to established companies to help them improve operational Efficiency and Reduce Costs. For more information, please reach out to us at email@example.com or call us at 908-359-2600