Transcription has emerged as one of the fastest growing fields in the industry and with an increasing number of entrepreneurs, owners of business will have to run through the valuable concept of business transcription and understand its basics and related concepts. To simplify it in the first instance, business transcription refers to the translation of any recording or communication medium to text either on paper or in a soft format for a business activity that doesn’t have any duplicate copy yet. Simply because verbal communication isn’t absent in business, hence the need for transcription can’t be avoided. Instead of hiring a separate staff to perform transcription, an increasing number of businesses prefer to make use of transcription service providers, but the choice rests with the owner of business regarding the same.
The Steps Involved in Business Transcription
Businesses are required to use the services of a meeting coordinator in the first instance that makes an audio recorded file of the meeting. This file is then sent to the in-house transcription department or the service provider for transcription. The audio file can be accepted in a wide range of physical formats like DATs, audio cassettes, digital audio files, VHS videotapes and online uploaded files. After listening to the recordings, the transcriptionists create a verbatim that is free of errors, typos and repetitive words. Moreover, the transcripts are stored for future references, in case the business has to make some statistical comparisons.
Types of Business Transcription Services
Depending upon the type of transcription that is required and the type of content that needs to be recorded, business transcription can be broadly divided into the following four types:
- Conference Transcription: Refers to transcribing the speech by various speakers in a conference into a text or printable form. But a transcriptionist has more than a couple of ways to transcribe such an unrehearsed speech. Either the transcriptionist can omit unnecessary words like, ‘ahms’, ‘errs’ or if the business requires an exact replica of the conversation then the same can also be done. There are also voice recognition machines that can create a printed document from audio recording during conferences.
- Interview Transcription: Although it is similar to conference transcription in terms of the technique used but the only difference between the two is that the number of speakers is reduced to two or maximum three and the recording usually takes place in a small room.
- Verbatim Transcription: It can be defined as creating a word-by-word transcription output of the whole speech that even includes the ‘ahms’ and ‘errs’ of the speaker. Board of directors and courts usually prefer this type of transcription.
- Seminar Transcription: When content from a seminar is transcribed, it is referred to as seminar transcription. This seminar can be either business or academic in its orientation. Usually such transcriptions run into may pages as they include group discussions or long monologues. The only challenge that the transcriptionist might face is getting a clear and professional recording of the event minus the echoes.
Importance of Business Transcription
Companies are increasingly making use of transcription services for earnings or investor relations meetings. In addition to making use of business transcription for high end meetings, it is extremely helpful in creating an extensive database of other events which have a market advantage. For instance, a regional sales manager can order for a transcript of monthly or quarterly conferences that have been conducted with other sales person present in the organization. In a similar manner, preparing a transcription for meetings of the project committee members can aid in creating a permanent record of the context in which the meeting took place.
The relevance of business transcription can’t be undermined as transcription enables to have a complete detail of who uttered what in the meeting. This detail can be extremely helpful in establishing statement-contexts which in turn can be used to settle issues affecting the business operations other than many legal issues that can crop up anytime after the conclusion of the meetings.