02 Oct What is the cost of transcription services in the UK?
What is the cost of transcription services in the UK, and how much should you pay?
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What is the cost of transcription?
So, what is the cost of transcription from reputable companies or freelancers? It can vary from £1-2 per audio minute for a one-person job (i.e. one audio typist/transcriptionist) and £2-5 per audio minute for a two-person job (an audio typist/transcriptionist and a proofreader).
If you have one audio transcriptionist working on your project, then it will cost less than having an additional proofreader. However, if you are looking for accuracy, and you don’t want to pay for anything containing typos and mistakes, then the additional step of proofreading would be a worthwhile investment.
What should you look for when choosing a transcription company
Security – the confidentiality of how your data is handled and security protocols implemented by your potential supplier are key to factor in when looking at the cost of transcription.
Accuracy – what level of accuracy are you ideally seeking?? Cheaper costs often mean cheaper salaries (or suppliers ‘farming out’ incoming work to unknown quantities, rather than paying for a permanent in-house team) so accordingly, the answer to, ‘What is the cost of transcription?’ depends upon how secure and accurate you need your transcript to be. Different sectors have different regulations and requirements. For instance, the financial, medical and legal sectors often require, and demand, the highest possible degree of security from their suppliers. VoiceNotes pioneered the delivery of outsourced transcription services to the financial sector when we launched in 2007.
What is the cost of transcription services at VoiceNotes?
While, of course, each client is different and has their own specific requirements, below is our generic rate card.
VoiceNotes transcription always undergoes a two-person process to ensure the highest quality of service delivery. One transcriptionist transcribes the file, with the transcription then being passed to a proofreader/copy-editor to perfect.
- Dial-in dictation and transcription from £162 + VAT per month (single voice; fair usage applies).
- Multi-voice transcriptions from £1.50 + VAT per audio minute.
- Pre-written proofreading from £12 + VAT per 1,000 words; proofreading and copy-editing from £15 + VAT per 1,000 words.
- If required, we are also able to engage a dedicated transcription team to work on your account only – please contact us to discuss the cost of dedicated transcription services.
Why is there such a difference between paying £1 or £5 per audio minute for a quality transcription?
Turnaround times have a large effect on the cost of transcription services. A transcription of 1-2 hours, in general, is usually turned around next day or in 48 hours. The more you pay usually reflects the better quality of people who will work on your transcript.
So, to answer, ‘What is the cost of transcription?’ isn’t a straightforward answer. However, this article should at least help ask the right questions – and to not overpay.
The advantage of outsourcing
You have the ability to scale up or down as your business ebbs and flows, without paying fixed salaries in-house – the cost of transcription is therefore flexible to suit you and your needs.
Why choose VoiceNotes as your transcription service?
All our transcriptions are typed by one member of the team, then proofread (and copy-edited, where required) by a member of our expert proofreading team. In this way, we consistently offer the reliability and accuracy you are looking for. Our security is the best in the business. We are ISO 27001 accredited. All employees are under strict confidentiality contracts.
Our client relationships mean the world to us, and we endeavour to react quickly to client requests. The cost of transcription for our clients is not their number-one concern, as they are looking for confidentiality and accuracy. However, we can totally appreciate that some transcripts don’t require the level of security and accuracy that we can deliver. Therefore, the cost of transcription can be fluid.
A few more reasons why VoiceNotes …
- High quality and value for money is guaranteed, as every transcription passes through at least two members of our team – one audio transcriptionist and one proofreader
- Fast turnarounds due to employing our own full-time team. This means we don’t need to search for a freelancer and check their availability
- You will have a dedicated account manager
- Every transcription has a date/time-stamp for legal and compliance auditing
- We have over a decade’s experience with FTSE 100 companies, SMEs and individuals
- We are ISO 27001-accredited. This ensures your data is kept safe and confidential at all times
- No set-up fees
- No minimum requirements