There are so many transcription services on the market today, some costing not much at all and some costing lots and lots of money. With many different charging models, today you will look at the different charging models, and the best way you can get awesome quality transcription work without spending much. It can also show how cheap transcription services do not always mean low-quality transcription work. There are multiple models of how you get charged by transcription companies. These are the most common ones but certainly not all of them.
Fixed price transcription is normally coming up with a combination of the below methods; normally a customer will submit their audio needing to be transcribed and the transcription company will provide a quote for that will only be valid for that work quoted on. A company will generally take the number of speakers, the hardness of audio, quality of the recording, turnaround time, previous working relationships with the customer, etc. into consideration when determining a standard quote for transcription based on a fixed price. Positives of fixed price transcription services. You know exactly how much the audio transcription company will charge for the transcription services. No surprise fees for the transcription. Good for large businesses and for business with ongoing transcription contracts. You can ensure the transcription company has the capacity to deliver work before the order is placed. You might be able to get discounts based on large amounts of audio, although in my experience this is not the case.
Not good for fast turnaround transcription work as it takes time for you to contact the company providing the transcription service and them to reply to you with a quote. Even if you contact them, in my experience some just do not reply, wasting more time. Very time consuming to organize. These companies normally have little to no automated services so customer feedback is often slow. You normally end up paying more for audio work. Make sure you check the transcription service’s ability to take detailed client requirements into consideration. A line of text is normally defined as a line of transcription is equal to keystrokes. Normally a company will have an agreed rate per keystroke with the transcriptionist and you are charged for these keystrokes. While this is often heavily used in the medical transcription industry, personally you do not like this method of charging for transcription services because it is extremely hard for the client getting the transcription completed on their behalf to know exactly how many keystrokes or lines of transcription there are in their audio order.
While some level of estimation can be completed, you will not know what you’re paying until you get your bill. You may think this is a risk that does not need to be taken when there are so many other transcription methods available. A very accurate method of charging for work performed. Very good for transcription companies as customers take the risk. You can often pay after work is completed, which can assist customers and businesses with cash flow situations. keep money in your bank as long as possible. If you’re searching for additional details on video transcription, look into the previously mentioned website.
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