Monday, 28 December 2015

Making a Right Choice to Outsource Data Entry Services to India

These days, business professionals have an ongoing set of jobs to take care of independently that they are left with minimal time at hand to perform fundamental chores like data entry. Top priority tasks are so many that professionals have no other choice however to outsource low-priority jobs to business outsourcing companies.

Countries such as India possess an enormous knowledge pool that makes it possible for it to offer value-added services at a wide scale. People employed in India are absolute experts with a keen eye for details.
Outsource Data Entry India
In case, data entry is not one of your organization’s primary competencies, then outsource data entry to companies which have expertise in the same. Indian business outsourcing companies provide data entry services such as online data entry of catalogs, lists, e-books, and even online image data entry.

Online image data entry services additionally consist of data entry of scanned pictures, image capturing, cropping, as well as enhancing. Indian outsourcing companies provide top notch data entry services in a short turnaround time. Effective outsourcing of offshore data entry additionally facilitates outsourcing of data. Outsourcing data entry services to India is beneficial for your business when it comes to making use of superior services at affordable prices.

High-precision, absolutely no mistakes, well-timed delivery and full confidentiality/privacy are a handful of the benefits of outsourcing data entry services to India.

Various other solutions consist of product data entry, online form completing, online books entry, insurance claims form, healthcare claim forms, patient details, form processing, tax return form preparation, shipping docs and credit card application data entry.

Are you looking for a reliable company to outsource your data entry, get in touch with Cogneesol today and we can assist you in the best possible way. We have an in-house team that consists of professionals having years of  experience in data entry. We also offer our clients a risk-free 14 day trial wherein they can get a brief idea about our deliverables. Call us today at +1 646-688-2821.

Tuesday, 8 December 2015

Comparison between Lacerte and ProSeries Tax Preparation Software

Before going into a comparison on the pros and cons of Lacerte tax preparation and ProSeries tax preparation, a quick look at their features individually will be in order. It has to be mentioned here that both software has been designed to perform specific tasks with a large number of overlapping functions. The two have been developed by Intuit, a leader in the field of accounting and tax preparation software and are regularly updated to make the lives of accounting professionals and tax outsourcing agencies that much easier.

Lacerte and ProSeries Tax Preparation Software USA

·       Main features of Lacerte – Speed of operations is the first feature that pops up due to some definite built in tools and automated calculations. The interface gives direct access to more than 5700 forms of different agencies. Lacerte provides auto updates of the latest tax amendments so that tax professionals do not miss out on the latest tax structure. Finally, this software enables printing of returns in PDF format for easy mailing to clients.

·       Main features of ProSeries – These include pay-as-you-use option, free e-filing, access to more than 3,200 forms and schedules, a thousand diagnostic error checking points and like Lacerte, automated calculations.
This software is available in two versions – basic and professional with a lot of advanced tools incorporated in the latter.
If a comparison has to be made between Lacerte tax preparation and ProSeries tax preparation it  would be wise to initially  take up the professional model of ProSeries as Lacerte itself per se is an advanced software which has been updated as recent as 2014.   
·       Features present in Lacerte but not in ProSeries Professional
Customisable client reports and status tracking, Schedule D excel import (1040 only), Paperless e-organiser, Consolidated Corporate Returns, Kiddie Tax Link – 8615, Control user access to program features for multi-user firms, All filings such as 990, 706, 709, 5500 but ProSeries does not permit filing of 5500.

·       Features present in ProSeries Professional but not in Lacerte
Client Checklist, Forms based data entry that is similar to other IRS forms.

·       Features present in Lacerte but not in ProSeries Basic (excluding those not present in Professional either)
Business forms, including 1120, 1120S, 1065, 1041, Input screens for rapid data entry, Network functionality for multi-user access, e-file business returns, client letter, a Missing client information tool to help with missing data, K-1 data import for business to 1040 transfers, Client Analyser, Customizable Return and Management Screen, Integration with QuickBooks, Client Organiser, Tax Planner,

·       Features present in ProSeries Basic but not in Lacerte (excluding those not present in Professional either)
Guided workflow and checklists to help with returns, Deduction finder helps identify missed deductions.   

It would not be in order to pass any value judgements made on the basis of this comparison on Lacerte tax preparation and ProSeries tax preparation. Both these tax preparation software has had a favourable global impact on tax accounting professionals and tax outsourcing firms. The lack of features in one when a distinction is made is more than made up in extras in the other. 

Have something to say about this article? Share it with us in the comment section. 

Wednesday, 2 December 2015

How Can You Improve Data Entry Accuracy Rate? Start Outsourcing

Speed, Accuracy and Precision – if there is one common denominator that holds good for all three it is data entry. Irrespective of the type of the company or its size, data is generated and has to be processed. The only flip side to this whole scenario is that it creates a drag on precious resources of businesses and is non-productive in nature. Investments in setting up required data processing infrastructure diverts cash flow away from core activities and thus becomes a hindrance to business growth and development. This is the primary reason why data entry outsourcing is the prevailing commercial mantra, one that goes a long way to strengthening the bottom line.

Data Entry Outsourcing

It is an established fact that the accuracy of data entry and its processing rests on a host of factors. This is especially true for a number of industries such as healthcare and insurance where error free data entry is absolutely essential. Therefore, these industries generally choose to outsource this intricate job to companies that specialise in this activity and invest heavily to update systems, incorporate the latest software and recruit efficient manpower exclusively for this task. 

What then are the attributes of outsourced agencies that make sure that data entry entrusted to them is done precisely and accurately 

Speed and accuracy of data entry – Outsourced agencies who have taken on data processing have to stick to stipulated turnaround times and accuracy. If the data is not entered correctly, it can have huge ramifications as claims and reports are depended on this. These agencies are generally allotted a keying accuracy standard and benchmarks of accuracy levels for different tasks. Main and vital fields have higher precision stipulations while non-critical fields are permitted lower accuracy rank. The compensation paid by parent companies to these vendors is dependant largely on this. Hence, there is always an effort to maintain laid down norms and the required data entry accuracy rate is always assured. 

Accuracy audit and checks – Audit and accuracy checks are constantly carried out and are very important reasons why it pays to opt for data entry outsourcing to ensure accuracy. In the rare case of errors, quality specialists on the payroll of the outsourced agency track and monitor data often for months together to arrive at the root of the problem and take corrective action. To get around this problem, dual keying systems are often adopted in crucial areas so that the precision level is higher than what are set. 

Using specialised software – Data entry has seen a passing phase from manual work to computerisation. Now there is robotic process automation (RPA) software that only does away with the need for constant tracking but also guarantees data entry accuracy. A lot of monitoring activity is taken off by this software which is now increasingly being used by data entry outsourcing agencies to speed up the process.

It is not only data entry accuracy that is promised by the outsourced companies, they also have checks and systems in place that assures high data security benchmarks.

Friday, 30 October 2015

How Can an Outsource Tax Preparation Company Help You?

As an outsource tax preparation company, we can let you know that one of the most high-priced things a client is capable of doing is be disordered. Someone needs to organize all of those receipts. In case you don’t make it happen, you then will likely be paying a bookkeeper or an accounts outsourcing company which will take care of it on your behalf.
Tax Preparation Outsourcing

You may well be astonished to find out that it isn’t at all times ideal if you do your own sorting.
However, you will be amazed at just how much easier it really is for your outsourced bookkeeper to accomplish that sorting. As we sort, we refer to the stuff we have been searching for; we arrange it into heaps that supplement the work which we have to perform.

Usually clients would sort their bills into a manner which is rational to them. After that the bookkeeper obtains it, and bills you the time it will take to re-sort the bills into something which tends to make far better sense to carry out the bookkeeping.

We can’t counsel you on ways to do that beforehand since each and every client is unique. We can assure you that each one of the points below have an effect on how your work gets perfectly lined out.
Your individual expending behavior can impact on how your work is taken care of.

·         The kind of company
·         The nature of your organization
·         The question of whether you ask for GST on each and every sale
·         The service for which you employ your bookkeeper for
·         How much you are going to study your finance reports every month
·         In case you merge personal along with business

Towards the end of the day, it might take the tax preparation outsourcing company 2-5 hours to categorize a year’s volume of work. However, with regards to cost, it really is worth it.

What happens if you decide to do it on your own?
The very first thing you must do is have a discussion with your bookkeeping outsourcing company to discover how he/she prefers it structured. If you happen to be a small 1-5 person/employee business, your bookkeeper will probably prefer it organized by the bank or perhaps credit card billing statement.
To arrange it in this manner, first of all obtain the bank or credit card billing statements which are put to use for business reasons exclusively. Obtain your bank or credit card report, and affix the bills to the flip side of the statement which they are part of. It will be preferential in case you place them in the order they show up. By sorting in this manner, the bookkeeper can easily deliver the results from the bank statement, and simply be verifying the bill for clarification objectives.

You will find bills that are not on the statements; therefore you will have to distinguish those out evidently from another statements.
In case you bill your clients, ensure those invoices are placed into a different file.
And following yearinvest in a tax preparation outsourcing company as opposed to a shoebox. You surely will be pleased you did!

Thursday, 8 October 2015

10 Tips for Choosing an Ideal Tax Preparation Outsourcing Company

Although you may not be preparing your own tax return, you’re nevertheless lawfully liable for what exactly is on it. Listed below are 10 tips to take into account when selecting a tax preparation outsourcing company :

1. Verify the outsourcing company’s skills. Just about all paid tax preparers need to have a Preparer Tax Identification Number (PTIN). In conjunction with ensuring they possess a PTIN, inquire with the preparer whether they have enrolled in any continual training programs.
2. Take a look at the preparer’s background. Obtain recommendations from friends and relatives; however confer with the BBB to check the tax preparation outsourcing company’s report. Or perhaps, select a BBB Certified Business. Look for disciplinary measures and license statuses with the IRS.
3. Inquire about service charges. Stay away from preparers who base their service charge on a sharing basis of your tax refund or perhaps those that express they are able to secure more substantial refunds as compared to others. Always be certain that any kind of refund pending is sent out to you or transferred into your banking account. Taxpayers should never deposit their tax refund into the preparer’s account.
4. Request to e-file your return. Ensure your preparer provides IRS e-file. Any kind of tax preparation company that prepares as well as files greater than ten returns for customers usually needs to file the returns electronically.
5. Ensure the preparer is easily accessible. Be certain that you’ll have the means to get in touch with the tax preparer once you file your return - even post the April 15th due date. This is often beneficial in case queries crop up regarding your tax return.
6. Present records and statements. Superior tax preparers are going to demand your records as well as statements. They’ll investigate a little to figure out your overall earnings, deductions, tax credits as well as other crucial things. Be careful not to make use of a preparer that is ready to e-file your return by means of your last pay stub as opposed to your Form W-2. This actually is against IRS e-file guidelines.
7. By no means sign a blank tax return. Don’t employ a tax preparation outsourcing company that suggests you to sign a blank income tax form.
8. Assess your return before putting your signature on. Prior to deciding to sign your tax return, assess it and inquire in case anything is unclear at that time. Ensure that you’re at ease with the accuracy and reliability of the return prior to signing it.
9. Make sure the tax preparer signs and incorporates their PTIN. Tax preparation outsourcing firms need to sign returns and incorporate their PTIN as necessary by legislation. They also need to provide you with a copy of the tax return.

10. Report fraud tax preparers to the IRS. It is possible to complain regarding fraud tax preparers and presumed tax fraud to the IRS. Make use of form no. 14157, Grievance: Tax Return Preparer. In case you contemplate a return preparer submitted or modified the return without your permission, it is important to file Form 14157-A, Return Preparer Scam or Malfeasance Affidavit.

Friday, 18 September 2015

Responsive Website Design is the Need of the Hour!

It has turned out to be crucial to have a website that is flexible to several devices as well as screen sizes since the utilization of mobile handsets like smartphones and tablets has been elevating more than ever. Responsive web design offers lots of advantages aside from being user-friendly. We would have a glance on what is a responsive design and its positive aspects.

Responsive Website Design

Responsive Website Design
Responsive web design is a technique that the designers follow to develop a site that adapts itself in accordance with the gadget screen size. A responsive webpage modifies itself according to device utilized by the visitors. It implies that visitors are going to experience an optimized website regardless of the kind of device and display size.

Why Responsive Design?
You can cut costs on development, increase sales whilst providing an excellent user experience by means of responsive website design. As browsing is being performed on distinct mobile devices like smartphones, tablets and so on, it is essential to have your site that is adjustable to every device. As device screen size keeps on reducing, you responsive website design is an excellent way to keep up with the differing screen measurements.

One website for all gadgets:
The bundled approach to responsive web design enables you to focus your SEO strategy on a single website as opposed to having a distinct mobile site. Responsive web design additionally makes it possible to have a single analytics as well as tracking. Furthermore, you need not to invest in additional development and site management.

Make contact with mobile users:
According to a report by Google, a 400% progress has been observed in search through mobile devices. 33% searches are regional. Establishments which are already having responsive website design are witnessing as much as 40% of their website traffic originating from tablet and mobile phones. By means of responsive web design, visitors get a better experience within the small time frame which they expend on the site.

Boost sales:
Latest studies imply that people will probably purchase or invest capital in case that company has its own website that works properly on their mobile device. Responsive web design renders a gradual, enjoyable user experience that considerably boosts conversion rates and revenue. A Google survey asserts that the chances of website visitor buying a product or perhaps choosing a service from a responsive website are 67%.

Presence in search engines:
A booming website is located conveniently on the web. Multiple SEO campaigns may be expensive. Placing time and effort on a single domain assists you in acquiring increased traffic and a less expensive SEO budget. Responsive website design allows making use of considerably less resources, and more notably, lesser time is utilized in duplicating content material, pictures and products. Google has endorsed that responsive websites are more prominent in local search engine results from mobile devices.

Responsive web design
Connect with a larger audience:
In accordance with the report by Google, about 45% of visitors for various sites are from the mobile devices. In case a website is responsive, mobile device users can conveniently gain access to and navigate the site.

If you are seeking out a reliable IT outsourcing company to make your websites responsive in no time, get in touch with Cogneesol today. Our number is +1 (646) 688 2821.

Monday, 8 June 2015

How to Ensure a Smooth and Effective Insurance Outsourcing Process?

Outsourcing frequently takes in a negative rap, with major businesses making use of it to cut down personnel count, paperwork and operating costs. Nevertheless, for smaller sized businesses like small as well as medium sized insurance companies, outsourcing might be an useful, actually crucial tool to bring about profitable growth and encourage efficiency, especially when skilled employees are difficult to acquire or perhaps costly to seek the services of.

Visualize insurance underwriters as well as producers investing time on day-to-day basis on data entry, review, invoicing, purchasing and going over inspections and MVRs, building up loss runs as well as authorizing plans. Evidently, an agency’s knowledge workers are overqualified in addition to being overpaid for most of these types of jobs. Experience demonstrates that it is a lot more worthwhile to make use of them on new business development as well as renewal activities that necessitate high-level interpersonal abilities and associated risk control intelligence.

The issue is how one can outsource the standard, recurring aspects of an agency’s back office in a way that it sustains the credibility and stability of the company, increases competitive edge in areas such as service quality, boosts morale of the staff, reduces expenses and enables expansion with minimal disruption to company procedures.

The below-mentioned points focus on these crucial issues and signify measures that most small and medium-sized companies will need to look through while carrying out research on insurance process outsourcing.

1. Outsourcing pertains to growth, not cutting back:

The ideal businesses outsource to make a profit, and not to scale down. They outsource to innovate quicker and more inexpensively so as to become bigger, acquire huge market share, and employ a lot more and distinct specialists–not to reduce expenses by firing individuals.

For companies wherein just about all your people are appreciated and skilled, your main aim is not to economize and, however to make the most beneficial utilization of their precious time. By outsourcing day-to-day jobs, company expenses are diminished, liberating assets which can be utilized more efficiently.

2. Take care of your systems and security:

In conventional business process outsourcing, businesses provide financial benefits by moving you onto their company management system, which they are able to use more smoothly, faster and less expensive as compared to that can be done on your own. The issue is the fact that in case the partnership falters as a result of cost increases or a deterioration in the quality of service, your company is trapped, devoid of both the systems in addition to the individuals to manage your essential back office tasks.

The latest approach would be to have the outsourcing service provider connect remotely to your system, understand your procedures, adhere to your processes and fundamentally turn out to be an add-on to your company. The similar method you link up with the server from home, they are able to carry out from their workplaces. All the details remains on your server and can be supervised on a daily basis by your administrators. In the event you choose to terminate the partnership, you can easily change your password to retain exclusive control and accessibility to the system. Outsourcing tend to be an effective tool for enhancing efficiencies and expenses, however you ought to look after the key elements of your data and system security.
3. Communication is essential:

There are numerous critical indicators to guarantee effectual communication between your business outsourcing company and your workplace.

Opt for an industry expert as opposed to a generalist. This implies deciding on a service provider that comprehends the functional issues and motives distinct to your type of insurance company.

Confirm that your outsourcing company has its corporate head office or perhaps a totally operational division office situated in the US. In case you ought to troubleshoot situations, or immediately put into practice new projects and processes, you’ll require localized support that recognizes your requirements and can operate with the swiftness, proficiency and insight you desire.

Verify the quality of the service provider’s team. Your team has to deal with the employees of the outsourcing company on a regular basis. It is imperative that these employees plan their chores with persistence and intelligence and can converse responsively as well as skillfully with your in-house team. At all times evaluate the education level of your provider’s team in addition to their specialized and English competence. Lowering E&O from levels existing in your company is certainly feasible, however is determined by the quality, knowledge and training of your service provider’s staff.

4. Simplicity of implementation:

Certain outsourcing techniques may entail significant expenditure in innovative IT systems, procedures and training. The rest do not. It frequently is dependent upon the way your service provider connects to your workplace and if the approach necessitates you to migrate to a different system or keep using your own. Usually, the most pain-free and efficient outsourcing solutions will not mandate that you modify any of your systems or perhaps procedures , which implies that the learning curve occurs within the outsourcing company, not among your team. Determine the standard time period to carry out outsourcing solutions, do a comparison of expenses between solution providers and request recommendations to be familiar with other client viewpoints.

5. Prospering internal support:

Essential to the triumph of any outsourcing task is the support and buy-in of your in-house team. For this reason outsourcing solutions that entail cutting back do not appear sensible for small as well as mid-sized companies.

Staff must learn the goals behind the outsourcing plan: that it is meant to improve their opportunities, making their job a lot more intriguing by stripping away the standard procedure, boring and low-value jobs and consequently boosting their efficiency and impact within the company.
Management has to offer distinct guidance, be attuned to queries and problems and comfort employees that the outsourcing option is ideal for their individual benefit along with the company all in all.

6. Research for proof of concept:

All of it seems fantastic: outsourcing business solutions can furnish strong functional and cost efficiencies, however what is the reputation of the particular outsourcing company? The first spot to begin is undoubtedly with their current client base to understand the issues, complexities and solutions they experienced, and whether or not there has been an overall advancement to the top and bottom lines from when the support was offered.

Trial periods are an effective method to establish ease and comfort with the manner in which the company functions, the quality and competence of its team, its productivity, processing turnaround times, inaccuracy rates and customer support levels.

7. Financial aspects:

As a final point, the financial aspects need to sound right. Offshore services provide the ideal returns on investment–as far as quality control could be sustained. Take a look at your present entirely loaded expenses of carrying out the work in-house, such as income, positive aspects, employing, training, management oversight, shrinkage; and then do a comparison of these expenses with your service provider’s approach.
Apart from solely financial benefits, there additionally may be intangible however essential advantages of outsourcing, like the greater simplicity of incorporating capability to your operation by documenting workflows, as well as by setting the load for employing, administration and quality control on the outsourcing company.

Using these basic guidelines, company owners and supervisors can certainly bring in significantly increased confidence with regards to seeking outsourcing as a method of making their companies more powerful, more aggressive and a lot more successful.