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Updated by Rely Services on Oct 30, 2020
Headline for Data Entry Services
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Data Entry Services

Rely Services provides the best in class Data Entry Outsourcing Services at an affordable price and with better accuracy. We are a well acclaimed Data Entry Company. We offer a wide range of data entry outsourcing services at affordable prices and with better accuracy.

Data Entry Services

We are a well acclaimed Data Entry Company. We offer a wide range of data entry outsourcing services at affordable prices and with better accuracy.

Medical Billing Services

We are a leading Business Process Outsourcing -BPO Company in the USA. Being the best medical billing company, we help medical billing agencies to manage medical billing services, Resulting in an organized patient billing service.

BPO Company

Rely Services is a leading Business Process Outsourcing - BPO Services in the USA. Being one of the best BPO Company in BPO Industry Rely Services providing customized BPO solutions to 400+ clients for 20+ years.

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Benefits to Outsourcing Medical Billing Services

Benefits to Outsourcing Medical Billing Services

Imagine you’re a small group of physicians with complementary specialties. You’re just starting out, so you’ve recently invested heavily in your offices, business hardware and software, furniture, medical equipment, marketing, hiring office and medical staff, buying insurance for the people and the practice, and you’re eager to start seeing more patients and building your practice.

But you’re noticing an income shortfall that keeps building.

Surprise! Some of your beloved patients are not paying their bills in a timely manner. And because of mistakes in coding or filling out forms, payments from Medicare, Medicaid and various Health Insurances are slow in coming.

Nothing new in this, across the Healthcare Industry, reimbursements have been declining and HIPPA-compliant paperwork is increasing. The opportunity to be a profitable enterprise is constantly shrinking.

On average, 70-80% of patients owe a minimum of $500 to their healthcare providers. More than 45% of patients owe $1000. If a bill is not eventually paid or settled, the expense of that treatment will NEVER be recovered.

How can a small or medium-sized medical practice hope to get, and stay profitable when it’s so expensive to operate and most of the fees are essentially capped by what the various insurance providers will reimburse?

The answer? Business Process Outsourcing- BPO!

A BPO can give your billing process top priority because coding and billing is what they do. BPOs have a proven track record- increasing income and cutting costs for healthcare providers worldwide. It’s both the easiest and quickest way for your medical practice to see new levels of profitability.

And just to reiterate, the whole billing process is money and time-consuming task.

Healthcare providers concentrate on their patients- staying current with the latest treatments and medications. The majority of their staff does as well. So it’s probably no surprise that Medical Billing is near the bottom of the list of priorities.

Today, Medical Billing Outsourcing is providing world class service to their clients. Using the latest technical innovation and expertise, some healthcare providers can see up to a 30% saving in billing and receiving costs!

Rely Services is here to give you and your staff the opportunity of concentrate on delivering quality healthcare! For a no-cost evaluation of your business and tips on how we can make you more profitable, contact us and see what a difference we can make for you!

Avoid Errors. It’s a fact that BPOs are less prone to errors in insurance coding and patient contact. Without a dedicated in-house staff for billing, your practice can be more efficient and cost-effective. The money saved can be used to improve patient care and upgrade equipment and services.
Stay Current With Industry Standards And Practices: Insurance, both private and government, constantly change their methods and requirements. To stay on top of the latest regulations is a full time job. With a BPO, your practice can leave that task to someone else, with a guarantee to stay on top of changes and not lose any time or money because of mistakes.
Improve Cash Flow. Medical Billing Outsourcing keeps billing flowing in an effective way, getting bills out quicker, getting payments back sooner and with less expense.
Increase Revenue: A BPO can introduce new billing methods, including trans-promotional marketing- where an invitation to a testing service, vaccines, medical events or other special offers are attached to the patient’s bill. This encourages better patient involvement in their own care and adds a revenue stream to the practice.
Security: Well established outsourcing companies have a very stable and secure billing process. Data is confidentially stored and they can meet current HIPPA standards.

Control: A BPO maintaining your medical billing services, will reduce your workload. Transparency and accountability will be maintained.
Patient Satisfaction: A BPO will be the voice and face of your billing service, and the best of them take that responsibility seriously. They can mirror the same consideration and care that your patients find in your office.

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What to consider when choosing the right BPO Partner

What to consider when choosing the right BPO Partner

More and more large, medium and even small-sized firms are partnering with Business Process Outsourcing companies (BPO's), than ever.

Because forward-looking enterprises are trying to decrease overhead. They're attempting to save staff and resources for the core of their business. Reduce Human Resources administration costs. They want to save on staffing and training. They want to see a reduction in hardware capital expenses.

Essentially, they want to do the things that give them an advantage over the competition. They want to win!

So, if you're considering a BPO partner, there are some basic steps you need to take to assure that the firm you pick is the right one for you.

  1. Scope of Operation

Don't let be deterred by the size of YOUR operation. BPOs can offer significant savings for businesses of almost any size, in any sector. And if they currently don't offer the tasks you need, odds are they'll find a way to do it. Remember, the BPO field is highly competitive and you'll need to spend some time and effort to find a firm that's a good fit for you. This also means that you will be calling the shots.

  1. Services On Offer

The leaders in the BPO Services field have a wealth of experience working in manufacturing, healthcare, online retail, insurance, mortgage, medical data entry services and billing, data mining, and a broad spectrum of IT and data entry services.

  1. Proven Track Records

Do they have endorsements from current and former clients that are true and accurate? Can they put you in touch with partners that are their biggest cheerleaders?

  1. Transparency

Can they offer full transparency? Make sure that they can offer a no-cost review of your business and detail what they can do for you. Will they be held accountable for all their actions on your behalf, and all their outages and downtime?

  1. Data Security

What about their security? Remember, you're going to be handing over your data to a third party. In some instances that data is like gold! Do they have the proper protections and secure practices to keep it out of a hacker's hands?

  1. Scalability

Will they scale the offered resources to fit your needs? And then increase those resources when your business expands?

  1. Technology and Infrastructure

Do they have the hardware, staff, and software to fill your needs? And do they have it right now? Make sure they're not going to buy what they need only after you sign up with them. This will help keep ramp-up time to a minimum.

What about their infrastructure? Offshore facilities are sometimes subject to the whims and perils of power outages, fierce weather, and social and political unrest. Can they keep your operation up and running when some, or all of these things happen?

Since the Business Process Outsourcing market is booming, there are newer, less experienced operations vying for your attention. There's probably nothing wrong about partnering with a new firm, as long as they have experienced, skilled staff and the resources to do the job for you. They may offer a very competitive price to get your business, and that can be good, but make sure they have everything needed to get up and running tomorrow!

Scout the field, look at all the firms' offers, then see what a leader in the industry- Rely Services - can do for you. You may be surprised at the range of award-winning clients we have. And with over 20 years of experience in the BPO field, the variety of services we offer.

For more information, and a chance to see exactly what Rely Services offers, book a free evaluation of your customer service needs and how we can help you accomplish your goals.

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How to Significantly Improve the Data Entry Process

How to Significantly Improve the Data Entry Process

*How to Significantly Improve the Data Entry Process
*

Every operational organization deals with data on a daily basis. This data needs to be managed effectively so that it can be utilized as needed. The process of entering values into computer software in a systematically processed way is known as data entry. The process can be manual or automated meaning it can be handled by a person or a machine. The process of data entry by an operator is known as manual data entry. If it is entered by a machine, it is known as automated electronic data entry. To make this process efficient and accurate, certain guidelines must be followed.

  1. Focus on Useful Data: As we all know, data entry is a time-consuming process, so the focus has to be placed on the data that is most useful to the organization. The documents that aren’t useful or don’t contain any useful information have to be removed. An operator should only focus on important documents. Not focusing on unnecessary data saves time during the operator’s day.

  2. Analysis of Errors: There are two methods used to analyze errors. These are the cluster & event analyses. These methods can be explained as follows:

a.Cluster Analysis: Clustering involves identifying common groups and analyzing them for errors. A data entry process gets repetitive when similar processes are needlessly repeated with the same kind of errors. Once you identify a single error in a process, it can be easily correlated with the other processes in the same cluster.

b.Event Analysis: This involves analyzing the root cause of an error that leads to a particular event. Once you have found the root cause, you can avoid such incidents and reduce your data entry errors.

3.Data Profiling:

Analyzing a set of data for its correctness, completion, and accuracy is known as data profiling. In short, you make sure the data being used is reasonably valid. Data profiling reduces needless corrections & saves money and time throughout the process.

  1. Introduce Smart Forms: Forms typically require different input values for different categories or sections. For example, a mobile number is a numeric value and a name is an alphabetic value. In this case, we’d need to design a smart form that prevents users from entering numbers into the “name” category and letters into the “mobile number” category by analyzing the characters entered.

  2. Standardization of Processes:

Once we are done with the process definition (data segregation & analysis), we can proceed to the process standardization. Process standardization involves preparing checklists for an operator so that they understand what points need to be cross-checked before submission.

  1. Introduce Automated Process:

Data entry involves manual work, but if we could find a way to automate the manual process, this will save time & money. Removal of manual processes increases the accuracy of the overall system. The automation of processes can be done with the help of software that extracts data from images, eliminating the need to manually extract it.

  1. Observation & Feedback:

Manual data entry requires the team to be closely monitored and critiqued in a timely manner. Feedback should be a two-way conversation where we take corrective measures to avoid errors. Observations are to be recorded and used for further referencing of process optimization.

You can use these methods to reduce your manual efforts and increase your profits. Being a leading data entry company, we can optimize various processes to save time so that you can focus on core business activities.

About Rely Services

Rely Services is a Business Process Outsourcing - BPO company with 20+ years of experience in the healthcare and insurance industries. We have helped our reputed clients to increase their revenue and smoothly manage their claim settlement process. You can reach us at info@relyservices.com or you can call us at 847-310-8750.

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Outsourcing Healthcare BPO Services in India

Outsourcing Healthcare BPO Services in India

Healthcare BPO Outsourcing in India

Your Healthcare Business is growing, and you need to add staff and services, and maybe you should consider a Healthcare Business Process Outsource firm for your expansion.

Wait a minute. A What? What is a Healthcare BPO? Sure, other business sectors have Outsourcing Partners for things like customer service and sales and accounting, but Healthcare BPO Outsourcing? what can they offer a Healthcare enterprise?

Simply put, a lot. Some of the Advantages of Healthcare BPO Outsourcing can save you time, money, resources and so much more. An Outsourcing Partner can take on the overhead of space, computer hardware, software, personnel onboarding, training, HR, communications and payroll. And because of the economies of scale, these services will be yours for a fraction of what you would spend in-house.

All the things that increase your expenses but don’t add to your profitability. All the things that become a huge part of doing business but aren’t really part of your core business. Those functions are necessary, but not why you got into the Healthcare sector.

And where is the most dynamic, accessible and talent-filled market for these services? India. With a highly educated, tech savvy workforce, where thanks to the British Empire, English is widely spoken, and the work ethic is top notch. With a stable society and government, a dependable infrastructure, and clean, high quality housing available to workers, and access to an expanding talent pool, you can’t do better than a Healthcare BPO in India. and Rely Services is a leading BPO using India as their core workforce.

Advantages of Outsourcing Healthcare BPO

With a myriad of services available, and being experts in each, Rely Services can offer the expertise that other Healthcare BPOs cannot.

Medical Billing Services: Essential to the operation of any practice or department, billing services and it’s efficiency drive the office forward. If the duty is done by a staff member who has other functions, the chance of errors in coding or billing submission increases.
Medical Billing Services Outsourcing with a Healthcare BPO can reduce costs and streamline the process.

Medical Coding Services: Again, this needs to be done by a dedicated staff member. Our highly trained coding specialist do nothing but coding, and they’re fast and efficient. Medical Coding Outsourcing allows seamless integration with your existing hardware and software.

Medical Data Entry Services: can unify all of your including the following:

Hospital Records- from every hospital
Medication Records- from every provider
Surgical Treatment Records- from every provider
Clinical & Healthcare Records from every hospital or clinic
Tests or lab Data Records- from every lab whether walk-in of hospital
Account and Billing Details- from every providerText and Numeric Data Entry- from all sources
Demographics EntriesPayment PostingPatient Details & Chart Information- from doctors, hospitals, clinics
Medical Insurance Claim Forms- primary, secondary, Medicare or MedicaidCharge EntriesHandwritten/printed Document Data Entry of all types
Image Record Data Entry of all types

Medical Data Entry Services Outsourcing: Unifies your procedures and eliminates duplication and other errors.

Charge Entry in Medical Billing: to be correct, access to detailed, coded charges have to be recorded and entered into the patient’s EMR. Rely Services’ specialist have an error rate of 0.01%.

Medical Accounts Receivable: When using Rely Services as your Accounts Receivable Outsourcing Firm, your seamless process continues. Your income flow can be managed using our specialized team.

Healthcare Revenue Cycle Management: From appointment to seek medical services to when all claims and patient payments have been collected, the cycle must be error-free in all respects or the cycle breaks down and there is a delay in payment. Using Revenue Cycle Management Outsourcing maximizes your chances of this process running smoothly.

Medical Claims Processing Services: Yes, it is a different language. But Rely Services speaks it fluently. Medical Claims Processing will be done quickly and on or under budget.

What’s the solution? Rely Services!

Professionals in the Healthcare sector are usually in it to help others. The hours are long and the responsibility is great. It involves both time and money to get the proper training and to stay up to date on the latest practices. It’s a satisfying career for those who’ve chosen it. Why not let a Rely Services take on the peripheral aspects of providing healthcare?

Our Healthcare Services BPO solution offers a turn-key solution to the complex maze of regulation and industry standards.

Electronic Healthcare Records and Exchanges: Moving patient information electronically across organizations within a region, community or hospital system, Rely Services provides the capability to electronically move clinical information among different health care information systems.

Healthcare Data Analytics: Compiling gigabits of data and analyzing them is a key element to patient healthcare. Rely Services constantly upgrades it’s software and technology to examine large volumes of data for insights for treatment.

HIPPA Compliance Consulting: Rely Services’ HIPAA consultants work with health care providers, law firms, managed care organizations, and HIPAA business associates, lending their expertise in navigating the maze of regulations.

Cost-Effective: Our clients realize a savings of up to 40% on data management costs.

Combining Electronic Medical Records with a move to a Healthcare BPO firm is a natural fit. Healthcare providers won’t have to hire new staff, or train existing staff to make the change to digital. A BPO can provide trained, experienced professionals to handle all of the migration to digital quickly, efficiently and securely.

Based on the project specifications and requirements, Rely Services applies the latest technological innovations to deliver world-class results. Our relentless pursuit of absolute perfection is on display in this sector. Rely Services is the premier Healthcare BPO firm operating in the Medical Data Entry Service field today!

Increased revenueDramatic Time SavingError-Free Data EntryAccess to Experienced and Professional StaffData SecurityReduction in Training CostsMore Time to Focus on Patient CareImprovement in Patient Experience
Healthcare Outsourcing can handle some of the more daunting tasks associated with EMRs:

Digitization of printed paper documents
Digitization of handwritten notes
Digitization of transcriptions
Digitization of patient intake forms
Digitization of X-rays and MRIs

Healthcare BPO Services offer the perfect fit to move, or maintain, your office’s record-keeping in the digital universe. Not only does it make records easier to access, it makes storage easier. Digitization is infinitely easier to search through. And it eliminates the problem of reading doctor’s famously unreadable handwriting. When you Outsource Healthcare Solutions your office gets the whole package, all at once:

Easy Accessibility: Document digitization enables an organization to access the data in digital form from anywhere, which breaks the barriers of location, time and simultaneous access.

Cost Reduction: Digitization of documents enables a provider to get rid of physical documents which consume resources such as office space, security personnel, and a decay-free environment.

Data Security: As the documents are digitized, the access to digital data is easy to define. This enhances data security and guards against data leaks.

Increased Productivity: Data can be accessed by multiple departments within the practice or provider at the same time.

Data Storage and Recovery: Digitized data is easy to store at multiple locations, giving extra protection against data corruption or loss. Physical documents are more likely to be damaged, whereas digitized data is more secure and easy to replicate.

Environmentally Friendly: With digitized data there’s no need to print it for distribution, also handling of digitized data is easy. This will ultimately result in saving natural resources, making your enterprise ‘greener’.

Competitive Advantage: When you access the digitized data, it becomes easy to find various records instantly and run analytical diagnosis which can yield important insights.

Contact Rely Services today for a no-cost evaluation of your opportunities Outsourcing Healthcare BPO Services in India!

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Five Reasons to Partner with a BPO on Mortgage Process Services

Ever consider a partnership with a Business Process Outsourcing Company as a solution for the increased operating expenses the mortgage sector is experiencing? A top-ranked, professional BPO that specializes in Mortgage Process Outsourcing can take the following high-volume, time-consuming tasks off your plate:

Background investigation
Property assessment
Accounting
Document examination
Underwriting
Pre-closing
Title ordering

Think for a moment what outsourcing these tasks can mean to your Mortgage BPO firms’ profitability. This could be the difference in success or failure in this hyper-competitive financial sector.

In 2019 the average US borrower makes a 5% down payment for their home purchase.

Ten years ago, someone with a down payment that small probably couldn’t get a mortgage at all!

So, lenders today are taking on more risk in a highly charged, competitive market! What does this do to their business model?

After the recovery from the great recession, mortgage lenders faced a new reality. These lenders need to find a way to reduce costs and become more efficient. With reduced profits, how can mortgage services remain in operation? What are the best tools to help firms in this battered financial sector succeed? Keep in mind that the pressures are increasing.

Here’s Five Big Reasons Mortgage Services Outsourcing has risen to meet the challenge.

A BPO team has the latest tech and IT practices available. That means constant hardware and software upgrades, migration to the latest servers, world-wide access, cloud services, continuing maintenance, and full support for your in-house staff. And while the service is outsourced, all the information is available to you 24/7. In this age of the Hacker, a BPO can offer cutting edge security practices to keep your information safe and private. It seems every day the headlines are filled with news of a new data breach. Look for a BPO that has never had a data breach, never lost any information, never suffered a devastating server crash. And if they have suffered one of these disasters, how did they recover?
No matter what size your business, a BPO can help you become more profitable. Often new customers will start a conversation with: “my operation isn’t large enough to outsource these services”. Actually, you’re probably just the right size to benefit from BPOs scalable services. Small bank or multi-national lender, you’ll be a good fit.
Customer satisfaction scores are off the chart! BPOs have been engaged in customer service- related functions for years, and it all started with building customer trust and confidence. Quality BPOs engage in constant training in customer relations practices with their representatives, so your hard-won customers will stay happy with both your products and your services.
Mortgage service outsourcing can deliver access to the latest in big data analytics, which in turn gives your firm the ability to use up to the minute information about pricing models, an optimum number of loans to have outstanding, loss mitigation and best practices. Big Data can allow your business decisions to be the best informed possible.
Cut that overhead. A BPO will provide a professional, highly trained staff ready to go. At a fraction of your current cost. Let your core staff do the things they do best. Let your key players do their thing. Let a BPO do everything else.

The right BPO will be a professional operation delivering on time and on budget. And they should be completely transparent so you know exactly what kind of job they’re doing.

Rely Services leads the industry incompetence and transparency. We’ve thrived in the Mortgage Services sector and we can bring that expertise to your operation! Contact Rely Services today for a no-cost evaluation of your business and how we can help. Call us at 847.310.8750.

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BPO Companies For Data Entry Services

CAN I TRUST SHARING MY DATA WITH A BPO?

The ability to collect and analyze data effectively is increasingly important. Done well, it can be the foundation of your business, the key to your success! Done badly, the reason for your failure.

As your business grows, more information is both collected and generated. International businesses have to deal with a variety of regulations from all the countries they do business in. US only businesses still have to wade through the local, state and federal regulations that affect them. Forms, documents, emails, letters, files, permits, test results, certificates, records, advertising, and promotional artwork… this barrage of documents is something never seen in the history of business!

TAKE CONTROL OF YOUR DATA WITH

BUSINESS PROCESS OUTSOURCING- BPO!

Today companies gather, examine, process and build their business on large volumes of data. Essential data. Data your company needs, data your customers need, data your staff needs.

The BPO Company exists to help you supply those needs.

We usually call this “workflow”. A deceptively simple name for a sometimes very complicated process. And in some cases, “workflow” would be more aptly named “work- DELUGE” or even “work-Tsunami”!

In the digital information world, a workflow consists of an orchestrated pattern of activity that processes information. A clear definition of workflow is needed so we know exactly WHAT process we’re talking about. And defining it can help us see its flaws as well as its strengths.

A particular workflow has boundaries and processes. A beginning and end. You should be able to track the movement of any particular piece of work through the entire process. Each part of it needs to identify and delineated. Only when you know WHAT your workflow is, can you assess its efficiency.

A process could be a small, simple task, done by an individual, or it could be more complicated and be done by a team. The first part by one person, the next by another, and the final by yet another person.

Now, a process becomes a workflow. Multiple employees each with their separate duties, each duty in relation to the next

Was your company’s workflow designed or did it organically grow? You might be surprised at the number of businesses that have a workflow that no one designed, or even worse, no one really knows its cost!

Data workflow usually consists of your data input, storage, processing, analysis, and extraction. Some of that information may start on paper, but it soon gets transferred to the digital world.

Is your workflow efficient? Or is it costing you more money than it should?

Digital Data Entry means all your data can be accessed AT a single location, FROM the location of your choice. It reduces office space bulk by not using paper. It’s easily searchable. Digital storage is secure and you control the access.

But as your data storage needs increase over time, and as the amount of time necessary for entry and collation work increases, even the most efficient office workflow can find itself falling behind. There’s simply too much data for your on-site data entry specialists to input. Now the advantages of a digital database entry begin to suffer.

Your online data entry has to grow, but you don’t want to spend your precious capital on more personnel or office space. Maybe it’s time to consider BPO outsourcing.

OUTSOURCE MY DATA? ARE YOU CRAZY?

BUSINESS PROCESS OUTSOURCING PROVIDES SOLUTIONS!

How can you outsource your data input, storage, processing, analysis, and extraction- and still stay in your comfort zone? Would it be a smart move to outsource your online data entry work?

Just as you may not have an Information Technology specialist on staff- instead of contracting with an IT services provider- you might want to find a BPO provider for your data entry services. That means taking all of your paper and paperless entry, processing, analysis and extraction and handing it over to one of a myriad of Business Process Outsource companies. Which brings us back to:

WHO DO I TRUST WITH MY DATA?

LEARNING THE OUTSOURCING PROCESS

All BPO companies are not created equal!

Virtual data entry jobs include data processing, typing, straight word processing, transcriptions, coding, and extracting data. While the best excel at all of these jobs some sadly, do not.

Like baseball teams, data entry companies have utility players that can handle a variety of positions- 2nd base, any position in the outfield, and players that specialize in particular skills- pitchers and catchers. There are subsets with different areas of expertise- starting pitchers, relievers and closers. Medical data entry differs from standard business data entry in language and function, requiring different skill sets. Technical and engineering data entry specialists speak a different language as well. A data entry specialist may be just that: a specialist.

You want a complete team: specialists AND utility players.

Contracting a BPO Company to handle your data can be a daunting prospect for most businesses.

Like your baby-sitter or car mechanic, you have to trust. You need to do your homework and check out a prospective BPO. Your company and data are valuable, you treat it that way, and if you’re going to trust someone else, they need to treat it that way too.

Who are their current clients? Do they get rave reviews from the business community? I’m a specialized business; do they provide remote data entry for my specialization? What data entry speed are they capable of? Actual physical location is not important, but do they have a representative for their data entry near me?

The top BPO providers have operators that are up-to-date on all the latest software and practices. They are experienced and informed. They know the process and are able to make changes to the workflow when needed or requested. They can spot looming hardware or software issues. They constantly communicate among themselves and with their clients. They are flexible and able to make adjustments when your needs change.

You want them to be a partner, not a robot. Someone who is part of the team, not a gun for hire who forgets about you when the sun goes down. After all, this is a partnership. One built on trust and need.

To receive a free onsite analysis of your business processes, please contact Rely Services at 847–310–8750. Dates are filling up fast!

Mortgage BPO

Rely Services is a leading global BPO - Business Process Outsourcing company delivering Mortgage BPO services over a period of 20 years. We offer accurate mortgage processing services to our clients. We can handle the time consuming complex components of the mortgage processing services in affordable price. We are a known mortgage process outsourcing company. Our mortgage bpo process is handled by well-experienced professionals who deliver quality mortgage services to the mortgage industry. So outsource mortgage bpo services for greater efficiency.

Insurance BPO

Rely Services is a leading global BPO Company delivering accurate insurance BPO services to the insurance industry over a period of 20 years. We offer reliable, cost-effective, and error-free insurance data entry services to our clients. We are a world-class insurance BPO company providing secured and productive insurance process outsourcing services to the various insurance industries. Outsource your insurance BPO services to the most reputed company in the USA.

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Benefits Of Document Digitization Process

Benefits Of Document Digitization Process

This is a digital world! More and more paper is disappearing. Everyone it seems, is going paperless. Online purchases, airlines, grocery stores, gas stations, doctor’s offices, dry cleaners… you name it!

In addition to being good for the environment, this presents new challenges for businesses of all sizes. At this point you might be considering using a Business Process Outsourcing - BPO Company, to make that transition and maintain your records.

Digital record-keeping can be easy, but what about your paper documents and records?

Document Digitization Services is a process of converting physical data into digital format by either a software or a manual process. If you’re moving into the digital realm for the first time, the amount of paper documentation that already exists can be staggering. And the task of going digital may seem overwhelming.

Digitization of data may be of various types:

  • Digitization of paper documents
  • Digitization of large size document
  • Digitization of Books
  • Digitization of Newspapers of Magazines
  • Digitization of engineering manuals
  • Digitization of Aperture cards
  • Digitization of insurance forms
  • Digitization of patient records
  • Digitization Travel tickets
  • Digitization of bills submitted by employees for claims

Document digitization processes varies by industry, every industry doesn’t save records the same way or in the same format. Our wide range of expertise to convert any type of documents into any style of digital format makes us unique! We have experts who understand your business and help us to convert the documents into any digital format.

Here are the Top 7 Benefits of Digitizing Documents:

  • Easy accessibility
  • Cost reduction
  • Data Security
  • Increased productivity
  • Storage & Recovery
  • Environmentally Friendly
  • Competitive Edge

Easy Accessibility : Document digitization enables an organization to access the data in the digital form from anywhere, which breaks the barriers of location, time and simultaneous access. Easy accessibility of data improves the data flow within the organization, resulting in enhanced productivity.

Cost Reduction: Digitization of documents enables an enterprise to get rid of physical documents that consume various resources such as office space, security personnel, and decay-free environment. Once the data is digitized, we can optimize these resources for cost reduction.

Data Security: As the documents are digitized, the access to digital data is easy to define. Digital access not only reduces the time required to provide access but also makes it possible to define the accessibility level. This enhances data security and protects you from data leaks. With the right kind of cyber security, it’s easy to safely maintain data.

Increased Productivity: Data can be accessed by multiple departments within the business at the same time, if the data is not digitized, it takes more time and more effort to access it.

Data Storage and Recovery: Digitized data is easy to store at multiple locations, which assures the data safety. Data storage in multiple locations gives extra protection against data corruption or loss. Physical documents are more likely to get damaged in case of natural disasters, whereas digitized data is more secure and easy to replicate. Natural calamities are often unpredictable so storing it at multiple, secure locations adds reliability to your documents.

Environmentally Friendly: With digitized data there’s no need to print it for distribution, also handling of digitized data is easy. An email is all you need to share the data so it avoids unnecessary printing. This will ultimately result in saving natural resources.Competitive Advantage: When you access the digitized data, it becomes easy for you to find various records instantly. You can run analytical diagnosis which can yield important insights.

From our beginnings, Rely Services has been a leader in the field of document digitization. We have a team of experts who can deliver the work on time and under budget with total accuracy. Contact us to find out how we can help you at info@relyservices.com or call us on +1 (847) 310-8750.

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Why You should Outsource Insurance Process to Insurance BPO

Why You should Outsource Insurance Process to Insurance BPO

In any business, the bottom line is the bottom line. There are fixed operating costs that seem to only increase, no matter what actions are taken to reduce them:

  • Escalating government regulation
  • Increased administration & compliance costs
  • The effect of Climate Change on increasing damage claims from fires, floods and hurricanes
  • Aging populations with increasing medical claims
  • Rising cost of health care & long-term product liability claims

And through it all, businesses need to continually show increasing profit in order to remain viable and vibrant. They need to maintain a public image and an online presence that will continually promote new customers. They need to invest in new technologies to keep up to date with current social trends.

As the Insurance Industry confronts the challenges of increased operating costs, reduced demand and decreased growth in developed markets, cutting operating costs becomes more and more critical. Both the big players in the business and smaller brokers offering all kinds of insurance are being pressured by these new realities. And, large of small, the challenge- and the answer- is the same.

Partner with an Insurance BPO - that can provide quick and accurate Insurance Data Entry Services at affordable rates, making it the perfect choice for any size business in this sector!

The business of insurance has been around since the 3rd century BC, developed by Babylonian Traders.

Property insurance as we know it today can be traced to the Great Fire of London which in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted the development of insurance "from a matter of convenience” into one of urgency, a change of opinion reflected in Sir Christopher Wren’s inclusion of a site for 'the Insurance Office' in his new plan for London in 1667.

The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706.

In the late 19th century "accident insurance" began to become available. The first company to offer it was the Railway Passengers Assurance Company, formed in 1848 in England to insure against the rising number of fatalities on the then-new railway system.

One thing the Insurance Industry shares with other industries is escalating expenses. Just like the certainty that actuary tables provide vital statistics, rising costs are a reality.

A BPO Company has the tools that will result in better customer engagement and improved operational performance, thus supporting the entire insurance value chain. They’ve developed software that can give you a “snapshot” of the customer, increasing conversion rates. BPOs can reduce operational costs with unique business methods.

  • Updating Prospects and Market Research Data Entry
  • Excellent maintenance of Insurance Data Mining
  • Experienced professionals handling your account
  • Error-Free Data Entry Services
  • 24 X 7 Customer Service
  • Simplified and Improved Business Process
  • Reduced Operational Cost
  • Better Customer Engagement

Consider the other ways a Business Process Outsource company can help you control costs by organizing and storing the following forms:

  • Uniform Billing Health Insurance Claims
  • Centers for Medicare & Medicaid Services
  • ADA Claims
  • Disability Claims
  • Dismemberment Claims
  • Medical-Claim Data Entry
  • Critical Illness Claims
  • Hospitalization Claims

With sophisticated data entry and retrieval tools, both the blank and completed forms are available to your chosen staff in the blink of an eye. Take the guesswork out of filing and retrieving the huge amount of records generated. If your business is still in the paper age, a BPO can migrate your data to digital- all of it- and continue with digital going forward.

So, when you decide to partner with a BPO, why not choose a firm that has over 20 years’ experience? Rely Services is the logical choice for your insurance business. Contact Rely Services today for a no-cost evaluation of your business and how we can help. Call us at 847.310.8750.

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How To Improve The Insurance Claim Process?

How To Improve The Insurance Claim Process?

Insurance companies who opt for streamlined processes, well-organized work culture, and goal-driven activities tend to generate trust for the customers and on-time settlements. This ultimately results in satisfied customers and increased profits. Every claim processed is unique in its own way, although they can be standardized and categorized easily. Let’s see how we can improve the insurance claim process with a strategic approach, technology, and more.

SWOT Analysis: Every organization operates in its own way and each claim is processed differently. However, if we understand the strengths, weaknesses, opportunities, and threats, we can standardize the insurance claim process. Identifying strengths and utilizing them effectively can result in time & cost optimization. If we look at opportunities where we can increase revenue or reduce the cost, you might be surprised at the results. Analysis of weaknesses gives us an understanding of where we are lacking in optimization. Managing weaknesses periodically results in increasing strengths.

To an Insurance BPO company, strengths could be manpower, infrastructure, etc. Weaknesses could be the consumption of time in regards to documentation as well as activities that consume manpower in a non-essential, repetitive way. The opportunity could be an acquisition of trained resources. Threats could be miscalculations or piles of undone work. These are just examples.

Identify Factors Affecting To Insurance Claim Process:

Technology & Customer Services:

Technology is changing daily, simultaneously affecting all industries and bringing a drastic change in the operation’s methods Insurance claim processing is also affected by various factors, like handling large quantities of data, adequate customer management solutions, risk calculation, etc.

To stay competitive, firms must cope with increasing consumer demand for instant customer services. Maintaining a customer-centric approach is key in this line of work.

Data Analysis & Correlation with Business:

While processing claims, we have to deal with large amounts of data. Insurance claim management requires a robust system that can handle multiple layers of data simultaneously, and lessen the workload of employees. Software used should be able to produce high-quality data, which can correlate with business decisions.

There should be continuous optimization of the process, resulting in overall improvement.

Adherence to Compliance & Regulation:

Insurance claims always revolve around compliance with terms & conditions. Before releasing a claim, you have to check all the aspects related to regulations & tax implications. Efficient manpower, sticking to guidelines and appropriate use of technology will lead to faster insurance claim processing. An insurance claim has to be transparent so that there won’t be any confusion when generating the compliance report.

User-Friendly Platforms:

Having user-friendly platforms not only ensures the quality of customer services but also increases user engagement. Having easy-to-operate mobile applications and data-sharing mediums ensures prompt updates about claims. Users tend to interact with mobile phones & tablets more than laptop & desktop computers, so it’s important to have mobile-friendly applications.

To summarize, if you have a customer-centric approach, good technological support, and practice process optimization, then it’s likely that you will save money and improve your top lines. You can outsource the repetitive tasks, reducing the turnaround time to process a claim.

Rely Services is a leading BPO firm capable of handling your repetitive tasks in insurance claim processing. We are a firm that helps our clients increase their revenue and manage their claim settlement process. We’ve been in this business for the past 18 years working with well-known clients. You can reach us at info@relyservices.com or you can call us at 847-310-8750.

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Benefits Of Mortgage Process Outsourcing

Benefits Of Mortgage Process Outsourcing

Mortgage lenders in today’s climate face a number of challenges like the cost of origination, high customer expectations, undesired closing ratios, and keeping up with the ever-increasing competition. By outsourcing the process to a contract mortgage processing services provider, lenders can fulfill their due diligence accountabilities to borrowers, while freeing up time and resources to focus on core competencies.

Mortgage origination is when a lender works with a borrower to initiate and complete a mortgage transaction. This involves many steps that vary according to each lender’s style and preferences. Proof of employment is required, such as pay stubs or W-2 forms. Federal tax returns are often requested, as are bank statements or balance sheets to determine a borrower’s creditworthiness. All of this takes time and time is, of course, money. Outsourcing this process, and its mundane, repetitive tasks, to a qualified contract mortgage processing company, frees up the lender’s time and provides them with the bandwidth to work with more borrowers and to close more loans.

Customers have an ever-increasing demand for technological advancement in their lives. This includes the process of getting a mortgage loan. Customers want their services as fast and as convenient as possible. By working with a third-party Mortgage BPO company, a lender can utilize offsite resources during off-hours; eliminating the time it would take a person to complete similar processing tasks. Virtual mortgage processing is a full-fledged mortgage process that can be done with the convenience of using a Tablet or iPad at a time and place that’s convenient for the borrower. Advanced analytics help save time in regards to handling potential problems. Advanced analytics is a set of tools and methods used to predict trends, events, and/or behaviors. Solving needs, problems, and issues before they arise is invaluable in business processes.

A problem many mortgage lenders face is undesirable closing ratios. Closing is when a deal on a loan is finalized. There are many steps to the process of mortgage origination, and at each step, there’s a possibility of the borrower backing out for any number of reasons. Outsourcing doesn’t entirely eliminate this possibility, but it does speed up the decision-making process and decreases the likelihood of a borrower bailing out of a loan application. A highly-trained outsourced mortgage loan processor can communicate on your behalf and let you know of any red flags that need to be addressed. Utilizing an outsourced mortgage loan processor can reduce the complications that stand between a borrower and an approved loan.

There are many mortgage lending companies and they all want clients. Competition can be fierce. One way to set yourself apart is to outsource your processing services to reliable experts in the field who have been thoroughly trained. Contract mortgage processing companies can offer experienced mortgage loan underwriters and loan processors who can provide quality work from setting up the loan to closing. This process is fast, convenient, efficient, and results-oriented.

The wide array of services provided through outsourcing the mortgage process can benefit lenders in a number of ways: innovation, consistency, efficiency, time, customer satisfaction, competitive advantage. Proper utilization of these services can help mortgage lenders take their businesses to the next level.

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Save Your Business with Document Digitization

Save Your Business with Document Digitization

Some habits are hard to break. For many businesses, paper is just such a habit. We can’t help it- so many business practices are ingrained, imprinted on our subconscious, that we don’t even think about them, it just happens. Paper has been around for centuries. And even now, the paper habit would seem impossible to shake.

Before the turn of this century, most businesses were literally drowning in paper. Every document generated by any business was printed on paper, sometimes multiple copies for distribution, read off of paper, filed on paper and eventually stored on paper. The ubiquitous file cabinets grew larger and larger. Entire industries developed to handle the printing, distribution and storage of paper documents. Entire forests perished for these documents. FedEx was founded on the idea of getting paper to and from customers overnight! Entire mega-sized warehouses existed to store nothing but paper. Looking at that period in the history of business from today’s vantage point makes the practices seem wildly inefficient.

But with the spreading use of computers, documents started to shed the bonds of paper. Gradually we moved into the digital age, becoming less and less paper-based. Now it’s not uncommon for documents to never be printed!

But the transition was slow and painful.

Starting with the invention of Optical Character Recognition- OCR- then the document scanner, then the personal computer, not only was paper becoming digital, information was becoming more accessible. Today we think nothing of sharing the same document with multiple users in multiple cities or on multiple continents instantly. But not that long ago it would have taken hours or days to do the same.

If your enterprise is not digital-based now, you might think that the transition is impossible. Years of paper files pertaining to almost everything may be sitting in boxes somewhere in an off-site facility, expensive to store and difficult to access.

It IS the 21st Century. Let’s start acting like it! Let’s get and stay digital! It might be painful, but in the long run, breaking the paper habit will improve your businesses’ health.

Digital documents are easily shared, duplicated, stored and retrieved. They can be almost instantly copied and backed up, so they won’t be lost or destroyed by manmade or natural disasters. Digital records can be analyzed for trends and forces that might influence critical decisions.

But do you take on that task in-house, or do you outsource it to a professional? Business Process Outsourcing BPO companies- specialize in moving businesses into the digital realm. They have the trained staff, the hardware and software for any type of migration, and the security protocols to move all your paper records- not matter what their format- into digital information.

The best BPOs are GLB and HIPPA compliant. This means that they’ve been certified by the US government to have protective measures in place to secure sensitive medical, personal and financial data.

If after document digitization, you want to archive the original paper files, your BPO will take care of that. If you want to destroy the files, that can be done in a secure manner.

The migration from paper to digital can be painless if you plan carefully and choose the right partner. The best of the Business Process Outsource firms routinely handle this kind of work. They are safe, professional and reliable. Their work is quick and economical, saving you the time and expense of hiring and training additional staff. If you need additional hardware to accommodate the increase in digital information the migration produces, they can supply or recommend it.

But remember, all BPOs are not created equal. Demand and expect the highest quality and security for the digital migration process, and the continuing digitalization of new documents if needed.

For more information, and a chance to see exactly what Rely Services offers, book a free evaluation of your customer service needs and how we can help you accomplish your goals.

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Mortgage Process Outsourcing For Survival.

Mortgage Process Outsourcing For Survival.

There are multiple challenges for today’s firms in the Mortgage Industry. There are tests of increasing costs of a Mortgage Loan Process, with tighter profit margins, escalating personnel costs, and retention problems. More players on the field are making this sector very competitive. Consider Mortgage Business Process Outsourcing - Mortgage BPO Services as a solution.

All of these challenges force the question: How do you scale up your enterprise while cutting costs, trying to remain viable in a cutthroat Mortgage Market?

The Mortgage Process is a multi-faceted, hyper-detailed set of responsibilities. Many different “micro-tasks” that require precise knowledge to complete. If one person on your staff is handling all of the different functions involved in Loan Origination - Background Investigation, Property Assessment, Accounting, Financial Checking, Document Examination, Mortgage Underwriting… not only are they crazy busy, but the workload will soon crush them. And before it does, there will be plenty of mistakes to clean up.

How did Mortgage Process Outsourcing rise to meet the challenge? The really successful ones partner with a professional, experienced offshore firm.

Mortgage Process Outsourcing Benefits

While the Mortgage Crises of 2006, and The Great Recession of 2009 was a body blow to the U.S. Mortgage Industry, the recovery has created new opportunities. The survivors have found new ways to remain profitable in the Brave New World of the Mortgage Process.

Leading lenders are turning to offshore firms for Mortgage Processing Services. Mortgage Process Outsourcing is the most popular method to reduce costs and increase efficiency in this sector. Studies show that lenders using Mortgage Outsourcing are saving as much as 40% over their competition. And they’re not sacrificing features by taking these services to offshore vendors, just look at what they gain:

Access to Latest Software

Most offshore teams have the latest tech and IT practices available. This means constant hardware and software upgrades, migration to the latest servers, world-wide access, cloud services, continuing maintenance, and full support for your in-house staff.

Security

In this age of the Hacker, this BPOs can offer cutting edge security practices to keep your information safe and private. It seems every day the headlines are filled with news of a new data breach. Since it’s vital that all your data will be backed up and secure, this is a crucial factor in picking your Outsource Partner

Reduction in Errors

With extensive training, and investment in hardware and software, these offshore firms can deliver access to the latest in big data analytics, which in turn gives your firm the ability to use up-to-the-minute information about pricing models, the optimum number of loans to have outstanding, loss mitigation and best practices. No matter what the size of your operation, big data can allow your business decisions to be the best informed possible.

Minimal Overhead

Cut Costs. Mortgage Process Outsourcing can provide a professional, highly trained staff ready to go, at a fraction of your current cost. This will mean huge savings in overhead

Customer Satisfaction

Since these BPOs have been engaged in customer service- related functions for years, and it all started with building customer trust and confidence. Team members engage in constant training in customer relation practices, so your hard-won customers will stay happy with both your products and your services

Focus on Core Services

Let your core staff do the things they do best. Let your key players do their thing. Let a quality Offshore Mortgage Processor do everything else.

Beneficial For Both Small and Big Organizations

Bring a professional, highly trained staff on board from Day 1. No matter what size your business, a BPO can help you become more profitable. Often new customers will start a conversation with: “my operation isn’t large enough to outsource these services”. Actually, you’re probably just the right size to benefit from BPOs' scalable services. Small mortgage broker bank or multi-national lender, you’ll be a good fit

Less Turn Around Time

While the service is outsourced, that doesn’t mean it’s not at your fingertips. Your information can be quickly input and is available to you 24/7.

Eliminate Hiring Costs

Today’s BPOs are professional operations delivering on time and on budget. The best is completely transparent so you know exactly what kind of job they’re doing. Their team works for you and has your success as a top priority.

Mortgage Process Outsourcing: Choose the Best Partner

It’s hard to know exactly how much help you need. In some industries, you can hire one employee to perform multiple tasks; however, in the Mortgage Industry, it’s specialized nature makes it hard to double-dip with employees. For example, a mortgage processor has a different skill set than an underwriter and vice versa.

It might not be an issue when you know you need a full-time employee in a specific area. But what happens when you aren’t sure? You’ll have to choose between hiring or understaffing. Neither option is optimal given the time, cost, and effort involved in the hiring process.

A Rely Services Mortgage Processing team has the latest tech and IT practices available. That means constant hardware and software upgrades, migration to the latest servers, world-wide access, cloud services, top-notch security, continuing maintenance, and full support for your in-house staff. And while the service is outsourced, we have 24/7 Customer Support, all the information is available to you anytime day or night.

Tired of risking your Data? The choice to Outsource Mortgage Processing can offer the Latest Technology and cutting edge security practices that will keep your information safe and private. Rely Services has never had a data breach, never lost any information, and never suffered a devastating server crash. Since it’s vital that all your data will be backed up and secure, this is a crucial factor.

Small Bank or Realty firm, Multi-National Lender, or Independent Broker. No matter what size your business, Third Party Mortgage Processing can help you become more profitable.

BPOs have been engaged in customer service related functions for years, and it all started with building customer trust and confidence. Our Loan Processing Services engage in constant training in customer relations practices with their representatives, so your hard-won customers will stay happy with your services.

Outsourced Third Party Mortgage Processing Services can deliver access to the latest in big data analytics, which in turn gives your firm the ability to use up-to-the-minute information about pricing models, the optimum number of loans to have outstanding, loss mitigation and best practices. Big data can allow your business decisions to be the best informed possible.

Let your core staff do the things they do best. Let your key players do their thing. Let Our Experienced Professionals do everything else.

Cut that overhead. We will provide a professional, highly trained staff ready to go. At a fraction of your current cost. This can mean huge savings in overhead.

When you Outsource Loan Processing Services, you’ll be profiting from a professional operation delivering on time and on budget. We don’t just offer Employment Verification and Verification of Documents for your clients, we offer you clear documentation of our performance. We’re completely transparent so you know exactly what kind of job we’re doing.

Rely Services leads the industry in professional standards and transparency. Our experienced professionals offer high-confidence accuracy, superb data security, quick processing times, efficiency, and flexibility at a cost we think you will find amazing.

We’ve thrived in the Mortgage Services sector and we can bring that expertise to your operation today!

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Five Reasons to Partner with a BPO on Mortgage Process Services

Five Reasons to Partner with a BPO on Mortgage Process Services

Ever consider a partnership with a Business Process Outsourcing Company as a solution for the increased operating expenses the mortgage sector is experiencing? A top-ranked, professional BPO that specializes in Mortgage Process Outsourcing can take the following high-volume, time-consuming tasks off your plate:

  • Background investigation
  • Property assessment
  • Accounting
  • Document examination
  • Underwriting
  • Pre-closing
  • Title ordering

Think for a moment what outsourcing these tasks can mean to your Mortgage BPO firms’ profitability. This could be the difference in success or failure in this hyper-competitive financial sector.

In 2019 the average US borrower makes a 5% down payment for their home purchase.

Ten years ago, someone with a down payment that small probably couldn’t get a mortgage at all!

So, lenders today are taking on more risk in a highly charged, competitive market! What does this do to their business model?

After the recovery from the great recession, mortgage lenders faced a new reality. These lenders need to find a way to reduce costs and become more efficient. With reduced profits, how can mortgage services remain in operation? What are the best tools to help firms in this battered financial sector succeed? Keep in mind that the pressures are increasing.

Here’s Five Big Reasons Mortgage Services Outsourcing has risen to meet the challenge.

A BPO team has the latest tech and IT practices available. That means constant hardware and software upgrades, migration to the latest servers, world-wide access, cloud services, continuing maintenance, and full support for your in-house staff. And while the service is outsourced, all the information is available to you 24/7. In this age of the Hacker, a BPO can offer cutting edge security practices to keep your information safe and private. It seems every day the headlines are filled with news of a new data breach. Look for a BPO that has never had a data breach, never lost any information, never suffered a devastating server crash. And if they have suffered one of these disasters, how did they recover?

No matter what size your business, a BPO can help you become more profitable. Often new customers will start a conversation with: “my operation isn’t large enough to outsource these services”. Actually, you’re probably just the right size to benefit from BPOs scalable services. Small bank or multi-national lender, you’ll be a good fit.

Customer satisfaction scores are off the chart! BPOs have been engaged in customer service- related functions for years, and it all started with building customer trust and confidence. Quality BPOs engage in constant training in customer relations practices with their representatives, so your hard-won customers will stay happy with both your products and your services.
Mortgage service outsourcing can deliver access to the latest in big data analytics, which in turn gives your firm the ability to use up to the minute information about pricing models, optimum number of loans to have outstanding, loss mitigation and best practices. Big Data can allow your business decisions to be the best informed possible.

Cut that overhead. A BPO will provide a professional, highly trained staff ready to go. At a fraction of your current cost. Let your core staff do the things they do best. Let your key players do their thing. Let a BPO do everything else.

The right BPO will be a professional operation delivering on time and on budget. And they should be completely transparent so you know exactly what kind of job they’re doing.

Rely Services leads the industry incompetence and transparency. We’ve thrived in the Mortgage Services sector and we can bring that expertise to your operation! Contact Rely Services today for a no-cost evaluation of your business and how we can help. Call us at 847.310.8750.

Book Scanning Services

Rely Services is one of the trusted document digitization services providers in the USA. We offer affordable book scanning services with the latest methodologies. We scan books to PDF and images, digitizing books and convert your favorite books to digital format. Serving high-quality book scanning services, document conversion, document scanning solutions. Our company will quickly turn your files into searchable digital documents. We are providing letter, legal, large format scanning, and document digitization services, Crowley Imaging can handle large conversions and help companies increase access to information. Get your books converted into digital e-books with the convenient, hassle-free, and affordable book scanning services provided by most preferred Document Digitization Company.

Mortgage Processing Services

Rely Services is a premier BPO Services provider to offer Mortgage Processing Services over a period of 20 years. We provide systematic mortgage processing to our clients. We have helped our clients to increase their revenue and manage mortgage processing services. We have a proven track record, increasing income, and cutting costs for mortgage providers worldwide. We can handle the time consuming complex components of the mortgage processing services at affordable prices. Outsource your mortgage processing to the most reliable Mortgage BPO Company and experience the quality of our mortgage processing services.

Logistics BPO Services

Rely Services is one of the trusted Logistics BPO Services providers in the USA. A leading logistics outsourcing services company providing end-to-end logistics BPO services
We offer reliable Logistics BPO with the latest methodologies. We have the resources to fulfill your logistics document needs and assure your business is meeting the necessary requirements in each step of any logistics. It will allow us to deliver a fast, cost-efficient value to you and your customers. Outsource logistics BPO services help to improve operational cost and efficiency of businesses. We are a known Logistics BPO company. Our Logistics BPO process is handled by well-experienced professionals who deliver quality logistics services to the logistics industry.
Being the topmost outsourcing logistics data entry service provider, we offer the best Logistics BPO solution for all logistics document management services. Outsource your logistics BPO services today at an affordable price with the most preferable Logistics BPO Company in the USA.

Mortgage Closing Services

Rely Services is a premier Mortgage Closing Support Services company providing comprehensive solutions to the nation's top originators and services over a period of 20 years. A leading Mortgage BPO company in the USA, providing end-to-end mortgage closing services to the mortgage industry. For mortgage lenders, we can offer you Mortgage services at competitive rates, High-quality title, and closing services. With Mortgage Closing Services, we support Mortgage Lenders & Mortgage Brokers in streamlining their loan closing processes. It will allow us to deliver a fast, cost-efficient value to you and your customers. Outsourcing mortgage closing services help to improve operational cost and efficiency of businesses. Rely Services can handle the time consuming complex components of the mortgage closing, Outsource your mortgage services today at an affordable price with the most preferred Mortgage Closing Company in the USA.

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Document Digitization

Document Digitization

Rely Services is one of the trusted document digitization services providers in the USA. We offer excellent document digitization services with the latest methodologies. Serving high-quality document digitization services, document conversion, document scanning solutions. Our company will quickly turn your files into searchable digital documents. We are providing letter, legal, large format scanning, and document digitization services, Crowley Imaging can handle large conversions and help companies increase access to information. Rely Services is one of the most preferred document digitization company in the industry. We are giving you a systematic document digitization process with error-free results, which is helpful to improve your data retrieval efficiency. Outsource your document digitization services today at an affordable price with the most preferable document digitization company in the USA.

Digitization Services

Our Document digitization services can secure your data. We manage and organize your data, improve data retrieval, and provide quick accessibility. Call us now!

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What Is GAAP?

What Is GAAP?

It seems all cultures have their favorite, sometimes idiosyncratic ways to describe rules and practices. Governments, Militaries, Religions… and Business is no different. Humans can’t help themselves. Acronyms seem to be in our DNA. And here’s one that no one outside of certain business sectors will know.

GAAP. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.

What The Heck Are Generally Accepted Accounting Principles?
Generally accepted accounting principles (GAAP) refer to a common set of accounting principles, standards, and procedures issued by the Financial Accounting Standards Board (FASB). Public companies in the United States must follow GAAP standards when their accountants compile their financial statements. GAAP principles are a combination of authoritative standards (set by policy boards) and the commonly accepted ways of recording and reporting accounting information. GAAP aims to improve the clarity, consistency, and comparability of the communication of financial information. And the GAAP definition, or standards, is accepted worldwide by more than 100 countries.

U.S. law requires businesses that release financial statements to the public, and companies that are publicly traded on stock exchanges to follow GAAP guidelines.

Principle of regularity: GAAP-compliant accountants strictly adhere to established rules and regulations.
Principle of consistency: Consistent standards are applied throughout the financial reporting process.
Principle of sincerity: GAAP-compliant accountants are committed to accuracy and impartiality.
Principle of permanence of methods: Consistent procedures are used in the preparation of all financial reports.
Principle of non-compensation: All aspects of an organization's performance, whether positive or negative, are fully reported with no prospect of debt compensation.
Principle of prudence: Speculation does not influence the reporting of financial data.
Principle of continuity: Asset valuations assume the organization's operations will continue.
Principle of periodicity: Reporting of revenues is divided by standard accounting time periods, such as fiscal quarters or fiscal years.
Principle of materiality: Financial reports fully disclose the organization's monetary situation.
Principle of utmost good faith: All involved parties are assumed to be acting honestly.
And What Are the Basic Principles of Accounting?

The Business as a Single Entity Concept- A business is a separate entity in the eyes of the law. All its activities are treated separately from that of its owners. In legal terms a business can exist long after the existence of its promoters or owners.

The Specific Currency Principle- A currency is specified for reporting the financial statements. In the United States all the numbers have to be expressed in US dollars. Companies who conduct parts of their businesses in foreign currencies have to convert the amounts in US dollars using the prevalent exchange rate while reporting their financial statements.

The Specific Time Period Principle- Financial statements always pertain to a specific time. Income statements have a start date and an end date. Balance sheets are reported as on a certain date. This way the readers know during which period the business transactions were conducted in.

The Historical Cost Principle- Historical costs are used for valuing items. The prices at which items were brought and sold are used for the valuations. Real values do change during the course of time due to inflation and recession, but these are not considered for reporting purposes.

The Full Disclosure Principle- With all the accounting scandals in the news, the full disclosure principle is important. It is required that companies reveal every aspect of the functioning in their financial statements.

The Recognition Principle- States that companies reveal their income and expenses in the same time period in which they were accrued.

The Non-Death Principle of Businesses- The accounting principles assume that businesses will continue to function eternally and have no end date as such.

The Matching Principle- The accrual system of accounting is to be used and for every debit there should be a credit and vice versa.

The Principle of Materiality- Then there are principles which require the bookkeepers to use their judgment. There are inaccuracies in all accounting records. A five dollar error can be ignored, but not a $10,000 error. This is where accountants have must use their own judgment.

The Principle of Conservative Accounting- When expenses occur they are to be recorded immediately, but income is to be recorded only when the actual cash has been received.

The History of GAAP

And where did come from GAAP anyway?

As with many practices, GAAP was born of crisis. The stock market crash of 1929 and the Great Depression that followed, shattered the public’s faith in the economy and it’s governance. In desperation, the United States created the Securities and Exchange Commission, and the SEC asked the American Institute of Accountants to formulate new standards for accounting. The thought was that the abuses discovered after the crash in the world’s financial centers might be avoided in the future if there was some standards and regulations to keep fraud at bay.

Generally accepted accounting principles are a set of rules that encompass the details, complexities, and legalities of business and corporate accounting. The Financial Accounting Standards Board (FASB) uses GAAP as the foundation for its comprehensive set of approved accounting methods and practices.

U.S. law requires businesses that release financial statements to the public and companies that are publicly traded on stock exchanges to follow GAAP guidelines, which incorporate 10 key concepts

Those general accounting principles continue to evolve today, but the basic principles remain and are still enforced by the SEC.

The Financial Accounting Standards Board (FASB)

FASB is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the US. The FASB replaced the American Institute of Certified Public Accountants' (AICPA) Accounting Principles Board (APB) on July 1, 1973.

FASB accounting standards are accepted as authoritative by many organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA).

The Governmental Accounting

Standards Board (GASB)

GASB is the source of Generally Accepted Accounting Principles used by state and local governments in the United States. As with most of the entities involved in creating GAAP in the United States, it is a private, non-governmental organization.

The GASB is subject to oversight by the Financial Accounting Foundation (FAF), which selects the members of the GASB and the Financial Accounting Standards Board, and it funds both organizations.

Its mission is to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports and guide and educate the public, including issuers, auditors, and users of those financial reports.

The GASB has issued Statements, Interpretations, Technical Bulletins, Concept Statements and Implementation Guides defining GAAP for state and local governments since 1984. GAAP for the Federal government is defined by the Federal Accounting Standards Advisory Board.

GAAP and Your Business

GAAP is a key part of doing business simply it inspires trust in your enterprise. It provides customers, vendors and investors a common standard to measure value and viability.

Principle of regularity: GAAP-compliant accountants strictly adhere to established rules and regulations.
Principle of consistency: Consistent standards are applied throughout the financial reporting process.
Principle of sincerity: GAAP-compliant accountants are committed to accuracy and impartiality.
Principle of permanence of methods: Consistent procedures are used in the preparation of all financial reports.
Principle of non-compensation: All aspects of an organization's performance, whether positive or negative, are fully reported with no prospect of debt compensation.
Principle of prudence: Speculation does not influence the reporting of financial data.
Principle of continuity: Asset valuations assume the organization's operations will continue.
Principle of periodicity: Reporting of revenues is divided by standard accounting time periods, such as fiscal quarters or fiscal years.
Principle of materiality: Financial reports fully disclose the organization's monetary situation.
Principle of utmost good faith: All involved parties are assumed to be acting honestly.
GAAP, Rely Services and You

Our complete knowledge of, and adherence to, the principles of GAAP make Rely Services the gold standard in Business Process Outsource Services. Our team of Finance and Accounting BPO professionals are current with the rules for each state. Our expertise extends to rules and regulations for over 50 foreign countries as well.

Contact Rely Services today for a no cost evaluation of your business financial and accounting needs, and how we can help you save 40% and more in accounting costs, trimming your overhead, and allowing you to concentrate on your core business pursuits- like making money.