What is Financial Transcription and Do I need it?

Any business that deals with a large amount of financial data would benefit from a financial transcription service.

Even a normal business, if it is large enough, processes huge amounts of financial data every day. It is important to keep this information in a clear and accurate manner so it is easily accessible and readily understood by employees, stockholders and anyone else who needs access to the data.

The numbers may also be needed for presentations, to prepare graphs or for any number of other financial presentations, such as earnings, expenses, wages, profit and loss.

Financial transcription can fall into two basic categories; one is a normal transcription just like any other business uses; converting meetings, conventions and other audio occasions into written documents. Then there is the ‘numbers’ part of business. This is where a financial transcription differs from a normal one. This sets out data from financial reports, sales figures, market reports and much more, in a clear and concise fashion, and outsourcing this to be professionally transcribed by a skilled specialist, like our staff at Singapore Transcription, frees up your staff, while providing the information in a written format quickly and accurately.

You simply send your files and they come back to you neatly ordered and easily readable for any use. This transcript will let you extract specific financial data in an instant, ready to use in board meetings, annual reports or wherever else you need it.

There is another advantage to outsourcing your financial transcriptions too; statistics indicate around 20% of blue chip firms suffer financial losses due to simple errors, and by outsourcing you have another pair of eyes checking the numbers in order to be as exact as possible, thus, at least lessening losses, if not eliminating them.

At Singapore Transcription our staff are familiar with both financial terminology and concepts.

A well-kept written record is the best way to keep your data ready to use in any situation, and Singapore Transcription can help you do that.