Daven Michaels

Daven Michaels

New York Times Bestselling Author, 30-year business veteran, and Executive Chairman of CurrentC Group.

We are in the knowledge-based era and information plays a very important role to the decisions we make academically, medically or business-wise. In a fast-paced world, it is often difficult to consistently document important points, hence, large enterprises equip themselves with audio-visual aids for information recording that is later converted to written-form.

Transcription meaning

Transcription is simply the process of converting recorded speech into meaningful text. It involves systematically representing language in written form. Experts however suggest it goes beyond converting speech to readable text. Transcription services can be outsourced and this comes with a lot of benefits that companies are beginning to realize.

Below we look at some of the advantages of outsourcing transcription services.

  • Saves cost: Through outsourcing of transcription services, businesses can cut down on expenses and capital investments. Generally, this saves cost and increases business profitability.
  • Businesses that outsource their transcription services have no need to recruit or hire additional manpower to handle their transcription services. This saves the business time and resources, they do not have to worry about additional staff compensation.
  • Companies do not have to worry about extra expenses on maintenance of IT infrastructure when they outsource transcription services. This reduces the stress on the IT department.
  • Highly skilled experts: Transcription services demand skilled experts in the field. Outsourcing to a reliable third party transcription service leaves you rest assured with quality service.
  • Outsourcing transcription services frees up valuable time for the company to concentrate on other core business operations.
  • Companies that outsource transcription services enjoy the opportunity of leveraging on its benefits like effective workforce, additional manpower, workflow systems and efficient tools.
  • Among these benefits include enjoying effective and standby customer support from outsourced transcription services providers.

Like the experts say, transcription goes beyond turning voice to written text. It may include translation. For example you will need to convert the speech of a foreign language speaker to text in order to understand the meaning. You may need to remove the pauses and non-verbal utterances so as to maintain accuracy. To get an accurate transcription at this point, you need to outsource to a native speaker of that foreign language.

Generally, you outsource transcription services depending on your needs and requirements, so you may want to hire someone who meets your requirements. More importantly, he or she should be able to retain the details.

Transcription service outsourcing is spreading rapidly all over the world. If you are still considering whether or not you need to outsource, the benefits lined above should help you make a decision.

Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! inspires entrepreneurs build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.


  1. That’s Daven, As you evaluate your options, be sure your decision best suits your company cultures. Also, keep in mind that what works for your business needs today may need to be re-evaluated in the future as those needs evolve.


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