Confidence amongst British business owners is at a 30 month low. Here’s how outsourcing transcription services can relieve the pressure and increase growth.

No optimism for economic recovery

The Lloyds Bank Corporate Markets business barometer, a national survey of business sentiment, has discovered that a large proportion of employers are hesitant about how their businesses will fair over the next six months, and are not optimistic about the economy undergoing a recovery any time soon. The survey registered confidence in the UK’s economic prospects at its lowest for more than two years.

The report comes after latest GDP figures show that the UK is slipping into another recession, with manufacturing, construction and service sectors – the main drivers of economic growth – contracting. Retailers are reporting huge job losses, and full-time jobs in many sectors are scarce. Is there any hope for businesses over the next year?

Outsourcing transcription services

Businesses that rely on transcription can relieve some financial pressure by outsourcing transcription services instead. This doesn’t necessarily mean putting typists or secretaries out of work, but a large proportion of transcription work is cheaper and more efficiently outsourced to a transcription company. Once transcription services have been outsourced, it gives the business breathing room and the potential to increase new business by reallocating fee earners.

There are 5 main reasons why outsourcing transcription services can secure your business for the next year and beyond:
1. You improve service provision. Transcription companies are specialists – they offer a guarantee that the file will be transcribed accurately and returned promptly.
2. You save money. By moving transcription work out of the office, you save money by removing additional staff costs such as sick pay and pension contributions.
3. You generate growth. If secretaries aren’t spending all their time transcribing, they can be reallocated to find new business or strengthen existing links.
4. You never lose control. Transcription companies work around the clock, communicating with you and your business as if it wasn’t being outsourced at all.
5. You inspire others. Outsourcing transcription services is a big step, but it makes financial and strategic sense – others will look to you as a model to replicate.

If outsourcing transcription services is what your business needs, even in the short-term, get in touch with us today and we can discuss your options.

01772 252333

Image credit: Tim Wang