Handshakes Vs. Backstabs
The world of commerce is like stepping onto a chessboard. One slight misstep or miscalculation can spell catastrophe. Trust cannot be dismissed as a buzzword or water cooler chatter. It must be earned. Constantly.
For Ditto Transcripts, experience matters. Big time. While our experienced transcriptionists have the flexibility to provide financial transcription services and meet business demands, they know the words “confidentiality” and “NDA” are not flexible one bit. Integrity is everything. Just as you keep yours, we work hard to keep ours.
For all those in business and finance, Ditto Transcripts delivers:
- Deep transcription experience hitting the highest quality
- 99% accuracy for all financial transcription services and to your formatting specifications and requirements
- U.S.-based to ensure document quality and confidentiality of recordings and transcripts. We are prepared to provide an NDA or confidentiality agreement at any time. We also have general liability and cyber liability policies in place
- All transcriptionists undergo extensive screening, testing and criminal background check prior to hire
- Rapid turnaround times, meeting specific times from 4 hours for rush files up to 6‒10 business days
- Toll-free telephone dictation, telephone support and free iPhone app
- Unlimited customer support services
- No long-term contract required
Meetings. Meetings. Meetings. If you need to keep up with all of them, we can too.
Who are some of the professionals we shake hands with?
Commercial and Private Bankers
Corporate Financial Advisors
Video to Text
Why choose Ditto Transcripts over AI or voice recognition for business transcription services?
AI, or voice recognition transcription, has been steadily growing in the past few months. It’s a handy way for students and professionals to record personal notes or make recordings in quiet environments with a simple conversation and no more than two people. You will need to do a lot of editing, though, with AI transcription.
Think about the business meetings, customer service calls, and every time your business talks with a stakeholder. Business meetings and conference calls almost always have more than two speakers. You will be talking about numbers, there can be accents, and at times the subject matter is complex or very unique to your industry.
With Ditto Transcripts, you deal with 100% US-based human transcriptionists who can handle the nuances of overlapping voices, accents, jargon, dialects, and non-standard pronunciations.
AI may be a useful tool, but nothing beats hands-on human transcription.
Offshore transcription costs more in the long run
Like AI, offshoring transcription work is becoming increasingly popular among businesses. Transcription services from Europe, Latin America, and Asia boast high accuracy rates and fast turnaround times. Possibly the most alluring benefit of all is saving money.
However, there are many arguments on whether choosing an offshore company actually saves your business money in the long run as people are becoming aware of hidden costs. They include:
The cost of selecting a vendor
When you outsource a service, you pay the expense of a service provider, which can cost anywhere from 0.2% to 2% in addition to the annual cost of the deal. To put it into perspective, sending $20,000 of work overseas would cost you anywhere from $40 to $400 each year.
The selection costs include sending RFPs and evaluating the responses, documenting requirements, and negotiating a contract. A foreign project manager could be working on this, and several others, all at the same time as everyone sees a profit opportunity in doing higher volumes.
There are also legal fees. Some companies hire an outsourcing advisor for an equal cost of doing it themselves. The entire process can take six months to one year, depending on the nature of the contract.
The cost of layoffs
Suppose you used to work with a US-based transcription service or an in-house transcriptionist and are now switching to offshore. In the latter case, you may pay some unanticipated expenses like severance and unemployment benefits increases.
Layoffs can also cause significant morale problems among workers, in some cases leading to disaffection and work slowdowns. Companies with experience offshoring should factor in the productivity dips and potential legal action from laid-off employees into their cost-benefit analysis.
The cultural cost
You simply cannot replace an American with someone from a different cultural background. A reason for this is that every culture has its own idea of work ethics and perspectives. Something that may seem like common sense to an American could be entirely bogus for someone reviewing your work overseas.
In transcription, context is everything. It’s what helps boost accuracy rates. The biggest issue with using foreigners for transcription is that they don’t understand the context and miss key points simply because they don’t live here. For example, they may not know what “Thanksgiving” is and transcribe it as “thanks for giving.” “Bachelorette party” could be confused with “bachelor’s degree.” Some things are common in American culture and aren’t experienced in other parts of the world, creating a lack of knowledge.
The cost of managing an offshore contract
Managing an offshore contract presents itself with a significant amount of work, including invoicing, auditing, ensuring the cost centers are charged correctly, and recording time properly. And the more projects you send offshore, the more you’ll have to keep track of.
There’s also the risk of what happens if the provider breaks a contract or agreement. The cost of getting an international lawyer to go after someone overseas for breaking a contract (including an NDA agreement) is astronomical. People can simply disappear and never be seen again. It’s different if you are a large company like Apple or Google with offices all over the world. There are maybe 100 companies that have the power to enforce contracts worldwide.
The enormous cost of editing
Lastly, when you receive your transcript back from overseas, and its error rate is too high to use, you’ll either edit it yourself or pay one of your staff to fix it. Your staff, who should be focusing on more important tasks, may now have to work overtime. You may also need to hire an in-house editor or outsource the editing.
So, does outsourcing your transcription needs actually save you money? By looking at the hidden costs, the answer is leaning towards no. After you select a vendor, consider the cultural barriers, the possible layoffs, the contract management, and the time needed to edit. Choosing a US-based transcription service like Ditto Transcripts will be equal to or even cost less in the long run.
Security is the name of the game — and we’re playing hardball
Here at Ditto Transcripts, we don’t skimp on data protection. All our clients and processes are covered with the latest in security technology, including:
- Network security monitoring tools
- Encryption tools
- Network defense wireless tools
- Web vulnerability scanning tools
- Packet sniffers
- Antivirus software
- Endpoint protection
Nice doing business with Fortune 100 companies, strip mall carpet cleaners, and companies like these.
May we have a seat at your table?
There’s value in being front and center at meetings, freeing up employees to handle other key duties. Give us a week or so notice and we’ll gladly travel with you to wherever you need us to do transcriptions. We also blend into the background with discretion and without distraction. Discover more by visiting our onsite confidential transcription services.
Ready for easier, more accurate transcription?
Ask us anything about transcriptions.
Accuracy. Turnaround times. Delivery. Anything.
We take all your good words seriously.
Even the ones describing us.
Great service, company, and work! We have been using this company for years to get transcriptions done for research projects. They always provide competitive rates, super quick responses, and amazing turnaround times. They are a pleasure to work with, and I refer everyone to them when they are looking for transcription services.
Great, quick and accurate work for my project. Will use again in the future.
Ditto Transcripts did an excellent job for me. I gave them a link to what I needed transcribed and the perfect finished product was returned within a couple of days in the format I requested. It was just what I wanted at the price I needed.
I am a doctoral candidate conducting research for my dissertation. I needed many hours of interviews transcribed. Not only were the rates reasonable, the work was top-notch and done in reasonable time. I'm definitely going to use Ditto Transcripts again I've recommended them to my cohort!
Excellent service. I’m a writer using these for a manuscript, and I greatly appreciate that you take out the Ups and Has before sending. Editing is your unique sales proposition.