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Man playing chess representing business transcription helping improve collaborative business intelligence.

3 Ways Business Transcription Services Improve Collaborative Intelligence

Our world is becoming more and more recorded. However, it’s not actually contributing to our businesses’ collaborative intelligence in many useable ways. That information is essentially “locked” in its audio or video file format. Here are three ways business transcription services can unlock that information and improve collaborative intelligence in the business world.

Business transcription services:

  1. Make it easier to pull out important information
  2. Make it easier to disseminate that information company-wide
  3. Make it possible to search documents quickly for specific information

Business Transcription Services Can “Unlock” Collaborative Intelligence

Woman about to speak to company. Collaborative business intelligence keeps everyone on the same page.Collaborative intelligence, also known in the corporate world as CQ, collaborative business intelligence, and Collaborative BI, is an important concept in business. At its simplest level, you might think of it as “keeping everyone on the same page.” By definition, collaborative intelligence is reliant on everyone having and acting on the same information. So how exactly do business transcription services help?

Paradoxically, today’s technology can actually get in the way of collaborative intelligence. Videos (including internal and on platforms like YouTube), Zoom meetings, teleconferences, podcasts, audio memos – these technologies have had a huge impact on business. They allow us to see and hear business information in ways that were never possible before, capturing everything we do and say in crystal-clear HD.

But there is a downside. Recorded audio and video files don’t make it easy to pull out important facts, no matter how high definition they are. It’s also difficult to disseminate this information company-wide – do your people really need to listen to the whole two-hour meeting to get the information they need? Do they even have the time, or will they maybe just skip it? Unfortunately, you can’t easily pull out the highlights from audio and video sources either.

Then there are data searches. Easy to do with text – we do it every day in this Google era. But it’s impossible to search video and audio files in the same way. For example, if we remember a certain quote from a company video we saw last week, we may be able to guess approximately where it was. But it can still take precious time skipping back and forth as we search for it, especially if the video is long. (Sometimes, we can’t find it at all – or realize we’re not even searching the right video…!)

On the other hand, if we remember parts of a passage from a 2012 Annual Report, we can search those words and usually find the passage in seconds. (Even, if it turns out, the passage was actually in the 2011 report…)

How Business Transcription Services Work

Business transcription services turn audio and video content into usable, sharable, searchable text content. This makes it infinitely easier to pull out the vital information, format it in a way that is easy to disseminate, and allows anyone to search the text for specific information quickly and easily.

1. Business transcription services make it easier to pull out important information

Tech holding different microphones. There are many ways to record meetings. Then, business transcription turns those meetings into useable text.

Here’s a typical example. You have a company-wide meeting to discuss a new project. Chances are, one or more people will not be able to attend for various reasons. But that’s why you take minutes, right? Perhaps. But minute-taking does not necessarily capture all the details of that meeting.

For example, the engineer who missed the meeting might need more specific information than “specs for the new turbine were discussed.” The sales department wants more than, “Joe Smith listed the five top regions for recommended rollout.” And so on. The only way people can get this information is to listen to the playback or track down someone who was at the meeting to find out more. That takes time – time that could be better spent elsewhere.

But if you record that meeting and take advantage of business transcription services, suddenly you have many more options. An executive assistant or other team member can pull out the information from the transcription and create a more comprehensive document from that recording. You can use it to highlight specific areas of importance. You can even separate the information into various departments such as engineering, sales, and so on, so that each department gets the targeted information that they need without wading through the information they don’t.

In other words, business transcription services allow you to format information in such as way that is way more useable than straight audio or video. The information becomes more focused and more relevant so that your people to get the information they need – and only the information they need — faster, easier, and more efficiently.

2. Business Transcription Services Make It Easier to Disseminate Information Company-wide

Two business men talking. Business transcription stores information better so it extends corporate memory.

This point is of course similar to the above, but there are some key differences. First, it’s important to underline the actual, practical matter of disseminating the information. Now, I can hear some of you saying, “But it’s just a link to a video – easy enough to send!” That’s true. However, disseminating information is more than just putting a bunch of data into someone’s hands. Efficiently disseminating means giving them information that is:

  • Relevant to their needs and position in the company
  • Easily understandable
  • Fast to take in and process in a meaningful way

Simply giving them a link doesn’t add any context and certainly won’t help them process the information any more easily – quite the opposite!

Another option is video editing, which will trim the ums and ahs, remove the sociable banter, and cut out any other irrelevant information. But as anyone who has done video editing before will tell you, that’s way more costly and time consuming than sending away for transcription.

Speaking of context – another advantage to business transcription services is that they allow companies to control the messaging internally. Remember, at its core, collaborative business intelligence is about keeping everyone on the same page. We’ve all been to meetings where different people identified different takeaways. That’s certainly counter-intuitive to CQ! Once your meeting is converted to text, you can shape the messaging to underline the important points.

3. Business Transcription Services Make It Possible to Search Documents Quickly for Specific Information

Book and magnifying glass. Business transcription makes text more searchable, and therefore more useable.Searchability is one of the hallmarks of the Information Age. Everyone Gen X and older remembers combing through the library stacks, scanning page after page of textbooks, almanacs, periodicals, and encyclopedias for that one scrap of information you were looking for. Thankfully, the ability to search text has eliminated that painful process. Now, all we have to do is come up with a few keywords and we can find that information in an instant.

…if that information is text, that is. Videos and audio recordings, as advanced as they can be, are absolutely 1993 when it comes to searchability. Not even Google has cracked that nut. If searchability is a function of usability – and we believe it is – then audio and video’s lack of searchability reduces a company’s collaborative intelligence.

Business transcription services make audio and video usable again by converting them into searchable text. No more wading through hours of audio or video like those stacks of library books trying to find the one piece of information you need. Just search the transcript, and you’ll get your answer in seconds.

Bonus Reason for Business Transcription Services: Extend your Corporate Memory

Here’s a bonus reason why converting your videos and audio recordings to written text is a good idea. When you get your first transcription back, compare the size of that text file with the original video file. Quite a difference, right? Many videos are measured in gigabytes, while the average Word document is still measured in kilobytes thousands of times smaller. If at some point someone in IT decides to erase old videos from the company server because they are taking up too much space OR because they are so old that the software won’t run them anymore, then all that business memory is lost forever. Having a text file will allow you to more likely preserve that company information for future staff to use.

Getting Business Transcription Services is Easy at Elite Office Solutions

We’ve used the example of the business meeting for this post, but the reality is that business transcription services can be used for many different recordings including:

…and so much more. You can read more about our business transcription services, or Contact Elite right now to find out how we can meet your specific needs.

 

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