What is Transcription Services & Who Needs Them?

June 21, 2019 June 19th, 2023 No Comments
What is Transcription Services

A transcription service is able to translate speech (either live or recorded) into written or electronic text. Why is transcription important? Many businesses rely heavily on transcription services to provide written records of important information that then serve many further purposes. These services provide unique benefits that can make businesses safer and more profitable.

Businesses that Use Transcription Services

Many different types of businesses use transcription services online. In order to help you understand which businesses use these services and why we’ve created a breakdown below.

Medical Organizations

Medicine is one of the largest industries that use a professional transcription service. This allows for the efficient and reliable recording of patient information which includes doctors’ notes regarding treatment, patient conversations, medical history, and more.

Legal Organizations

Law is another industry that relies heavily on written records. Transcription services might be needed for highly official purposes such as depositions and hearings or for less official purposes such as translating recorded client interviews, collated research, or recorded personal notes. When the information is transcribed, the lawyer can easily look through the text to find relevant information.

Educational Institutions

College professors also utilize a transcription service as a way to document their lectures. Outside of the classroom, they might need similar services to document meetings, dissertations, conferences, recorded interviews, and presentations. This information can later be analyzed and archived.

Market Research

Market research involves gathering a large amount of quantitative and qualitative data. From focus groups to individual interviews, the market researcher produces a vast amount of information that must be transcribed in order to be useful. Transcription services can easily and efficiently take on the task of transcribing spoken information into text that can later be analyzed or used in case studies. Having professional transcripts ensures the researchers will have clean and accurate records of exact participant responses. This makes the data more valuable for analysis.

Motivational Speakers

Motivational speakers may want transcripts of their speeches to reuse for other events or to share with clients. Having a transcription of a speech also allows it to have a broader reach since others can read the speech without having to be physically present at the event. Since transcribed information can be used to write books or create scripts for other uses, these services provide additional opportunities to create revenue streams.

Public Companies

Public companies have quarterly meetings and investor conferences that must be transcribed for public access. Because these meetings cover sensitive updates on a company’s financial status that will later be shared with investors, they need to be carefully transcribed. Having professional transcription services online allow the business to accurately record the details of these meetings and create a written account that interested parties can later reference.

Benefits of Using a Transcription Service

Using transcription services online allow businesses to have accurate written accounts of important interactions that provide a number of important benefits.

Avoid Disputes

Business meetings (and most human interactions in general) can result in mixed messages. What one person takes away from a conversation can be incredibly different from what another party might have understood. Video and audio transcription services provide a written record of the meeting and can help avoid disputes and prevent parties from arguing over matters because they remember the situation differently.

Create Different Products

Transcribing information allows a business to have accurate materials that they can share in whatever way they wish. This information can turn into reports, training sessions, webinars, podcasts, or websites.

Business Efficiency

By using professional transcription services, a business will have a trained professional who has a faster speed, efficiency, and eye for detail than a person who is simply typing up information. By outsourcing this specific task, internal staff is reserved to complete core competencies.

Fulfill Legal Requirements

Using professional transcription services can fulfill all legal requirements of the industry.

Improve SEO Strategy

If the transcribed information is added to the client’s website, this can help improve SEO (search engine optimization). Businesses may have podcasts or videos on their site that have valuable content, but because search engines cannot identify the keywords in audio or video format, these videos have not improved search rankings. By transcribing this content, the site can feed more information to these search engines and improve rankings.

Make Text Searchable

By having a written version of information from video and audio transcription services, businesses can make text searchable. This allows people to find the information they need more quickly. Additionally, having the information in text format allows the business to add links to other sites they want the reader to explore, such as previous blog posts or pages that cross-promote other products or services.

Archive Content

Once a library of content is created, the client can create an index of their work and link previous transcripts together. This information can later be shared in various formats for professional use.

From everything listed above, you can see why utilizing a transcription service is important. If you would like to add professional transcription services to your business model, contact Geneva Worldwide today to learn more.