Audio transcription pertains to the process of business which involves conversation via speech through audio files converted to a document format.
This speech is considered as the input in the transcription process.
This speech is inclusive of client focus groups, job interviews, TV shows, classroom lectures, and dictations of managers, office meetings, business conferences and also product seminars.
Mp3, wav, wma and mov are some of the common formats which are used for storing the audio recordings used in transcription.
The transcription company has different guidelines for storage of these audio files.
These files are then converted to different other formats according to the convenience of the company in concern.
Most of the businesses across the globe need to maintain their documents in the form of audio discussions.
This is done either for meeting the legal requirements of the state or the internal policies of the company or both of them.
Such audio documents are then utilized by the companies in the future for maintaining records, reviewing of meetings and discussions or for simply reading about the happenings of some important or specific event in the organization.
Need For Outsourcing It is practically not possible for businesses to run their own internal departments for transcription proceedings which will record and convert the audio files of the company.
Moreover, there is every possibility that the transcription may contain numerous errors in the audio files, and the much-needed quality might be hampered in the process.
These errors cannot be rectified with the budget set by the company for the process of transcription.
Advantages Of Outsourcing

• Outsourcing results in the work of transcription being done by the experts.
  The businesses hire the employees of different service providers who are conditioned and trained for working along with the challenges posed by transcription.
  These challenges include, overlapping voices, poor recordings, and heavy accents.
  
• Instant access to the corresponding documents and audio at any given time can be easy.
  The data can be accessed from anywhere across the world and this boosts the mobility of the employees.
  
• Outsourcing saves valuable time and results in improvement of core business concerns.
  Not only time, but savings are also done on recording equipment, software necessary for data processing, office space and the overheads which are associated with the job.
  
• It helps in getting efficient, timely and accurate work of audio typing, and that too at costs which are lower in comparison to the internal transcription process.
  
• It results in saving on the head counts of human resource and the issues associated with it.
  Issues such as payroll, management of leaves and employee benefits are negated.
  
• It provides flexibility if sudden spikes in the requirement arise.
  The service providers on their part can expand their force for meeting the sudden spikes.
  This is not possible in an internal department of transcription.
  

Additionally, the businesses have to keep their focus on core expertise rather than things which are out of their scope and so outsource the things which do not need diversion of their core focus.
By doing this, the businesses may become more efficient and productive.