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Financial Advisory Firm Approached DEO for Invoice Data Entry and Received 60% Savings on FTE

Client Profile – Financial Advisory Firm

The client is a financial advisory firm based in California and provides a wide variety of financial services for their large clientele. They adhere to a strong belief that small businesses are the backbone of the economy, and focus on helping smaller companies obtain the necessary capital to alter the course of their business.

Invoice Data Entry Requirement

Invoice Data Entry Requirement

Needing to capture data from a client-specific web portal and create invoices related to the logistics and travel industry, the client wanted to contract the services of a dependable outsourcing firm with expertise in invoice data entry, and a keen eye for catching certain invoice image details.

After speaking with the Data Entry Outsourced (DEO) sales team, the client chose to partner with DEO due to the following:

  • Proven experience working with similar data entry projects, and expertise in the financial sector.
  • Ability to allocate a sufficient number of FTE's for this ongoing project, and meet fast turnaround times of approximately 1.5 hours per request.
  • Capable of scaling up a few times a year depending on fluctuating volume, which can multiple nearly three times the standard volume rate.

Challenges Faced by our Team

This scalable, detail-intensive data entry project presented a variety of specific challenges for the DEO team:

  • The very tight SLA period, which was 1.5 hours for each request, was difficult to manage given the complexity of the assignment.
  • The similar carrier names were a challenge to filter given the differences in the address, or place of delivery, etc.
  • Input and instructions were both complex and unclear at times. Thus the DEO team had to set aside extra time to accommodate these issues.

Approach to this Project by DEO

DEO wanted to take every possible step to ensure a successful outcome on all deliverables; therefore a customized process was developed:

  • A meeting was initiated with the client to discuss project parameters, whereby the client outlined everything they wanted from DEO:
    • Look at all of the scanned and uploaded invoice images from the web portal.
    • Fill in all specified fields utilizing cutting-edge data entry techniques.
    • Specified fields included invoice numbers, load ID numbers, carrier details, billing amount, dates, and more.
  • DEO assigned five dedicated and experienced data entry specialists to work exclusively on this project, and facilitate all necessary communication.
  • The client uploaded the relevant files into the web portal and notified the DEO team.
  • Files were distributed amongst the resources for the most effective time management and began working on the data entry process.
  • Once completed, the finished invoices were uploaded into the portal, and the client was notified.
  • As this was a long-term, ongoing task, this process was repeated throughout a year.

Additional Value-add by DEO

To ensure timely delivery, the following exceptional steps were taken by the DEO team:

  • Additional dedicated resources were assembled, and the services were scaled to suit the larger volume requests.
  • DEO provided the required training to team members on the aspects of the process that was new.

Software Used in This Project

  • Client developed web-portal.
  • Debtor LookUp tool to locate and filter the carriers.

DEO Delivered with 100% SLA Meet

DEO concluded this long term data entry project successfully, and extended the following results:

  • Thanks to the efficiency applied by DEO toward all aspects of the assignment, the client was able to reallocate their workforce toward core tasks.
  • The client was very pleased to receive a 60% average savings on each FTE.
  • The client signed a long-term project contract, and thus DEO was able to secure another satisfied high profile client.

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