Data Processing and Preparation

Serving to diverse arrays in varied industries, data processing & preparation allows companies to outsource almost all their data management processes. This industry developed greatly since the late 1950s when computer became more prevalent at workplaces. Increase in sales and revenue of companies inspired them to focus on their manufacturing or core businesses and outsource all the paper or data related jobs, especially the multinational or which has massive businesses to operate. The largest sector of the industry includes billing services, credit card transaction processing, payroll processing, insurance claim processing and other general data center services.
 
Little insightful information about data processing & preparation:
Data Processing and Preparation
  • Transaction processing vendors process high volume, routine applications. This basically loaded the back office with too much work. Industries that take over the big companies’ data processing responsibility help them to focus on their front office functionality.
  • The growth of the industry fueled due to the growth in internet facility.
  • Though it is mostly a rubber and stamp job, but a background and interest in computer science is a must for this industry.
  • Many small businesses have come up independently to handle this requirement of the big industries. A single business has different units handling a particular segment or the entire company works to sort data for one segment. E.g.: Electronic Data System Corp. handled only medical related insurance and financial claims.
  • The advanced version of this industry has made provision for electronically processing the data to avoid human errors and also reducing the efforts during data mining.
Benefits of data processing & preparation services:
  • These offer alternative source of handling in house data using specialized technology and knowledge.
  • Hiring a third part for this purpose is extremely cost effective and efficient as these people are exclusively dedicated to manage your internal data. Installing in house processing systems and staffs for handling would be expensive.
  • There has been significant reduction in the computer time sharing and keypunch services.
  • Reduced paper movements to a great extent. The chances of cheques, contract papers etc getting lost during the entire transaction procedure reduces.

Data Processing and Preparation related information

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