July 14, 2020
Saudi Arabia has a predominantly oil-controlled economy and petrol makes up for 45% of the GDP. However, it aims to diversify into other sectors in order to reduce its dependence on petrol. These sectors include power generation, natural gas, telecom, cement, fertilizer, plastics, metals, aircraft and ship repair, and petrochemicals. Saudi Arabia is also encouraging private sector participation.
Many of the businesses, organizations, and companies in these sectors often generate and accumulate large volumes of data in the form of documents, invoices, forms, excel sheets, records, receipts, and other such information forms. A streamlined process of indexing, sorting, data entry and data processing is required to ensure that business productivity and efficiency remains above par. Some industry verticals and sectors may be particularly document intensive and require efficient ways of managing their data.
One of the key non-core business functions is data entry. Managing data entry of large volumes of data in-house can be extensively time-consuming and resource intensive. However, when a non-core activity such as data entry is outsourced to a professional and reliable offshoring partner, it can help the business reap great benefits in terms of costs and productivity.
Outsourcing as a strategy to streamline business processes is on the rise in the Gulf region. It was initially pioneered by the banking and financial services sector. 52% of Gulf companies are outsourcing their IT or business functions. Outsourcing in Saudi Arabia has enormous potential as the market is still to be exploited fully. Saudi Arabia Universities are known to outsource their maintenance services. The drivers for outsourcing include improvement of quality and increase in the speed of implementation.
It has been proven that improved quality/service outcomes can be achieved through outsourcing of non-core business tasks like bulk volume data entry and implementation of agile practices. It would help businesses develop on their core business goals and maintain their bottom-line growth.
In this regard, companies in Saudi Arabia will assuredly find that a long-term cost-effective answer for managing their non-core business processes is to collaborate with an expert data entry outsourcing services provider. Data Entry Hub , an BPO with global outreach, has 10 years of experience in providing data entry outsourcing services.
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