Understanding Professional Transcription Services

When the Word Wizards go out into the world, we often get asked the question, “what does a transcription company do and why would someone need that?” As always, simple questions require not so simple answers. As defined by Wikipedia, “A transcription service is a business which converts speech (either live or recorded) into a written or electronic text document.” In truth, the function and value a transcription service provides depends on the clients’ specific needs.

For example, a video producer with 12 hours of raw documentary footage will look to us for a much needed time code transcript. Our expert transcriptionists provide a time stamp every 30 seconds that corresponds directly to the footage, as it would appear in the video editing software. This enables a producer or editor to quickly search through their footage and identify and isolate specific portions of their media.

Example of a transcript with Time Code for use by a video producer.
An example of a transcript in MS Word with Time Code for use by a video production company.

Another example, consider a legal expert that has recorded the audio from a 5 hour deposition. In this situation, our clients require transcription services for the production of an accurate text document containing a verbatim account of everything spoken in the session. Thus quality, accuracy, and timeliness is essential to ensure the legal integrity of the transcript.

A cartoon demonstrating the stress of not using a good transcription company.

The world of professional transcription services is always changing and evolving to meet the demands of the current marketplace. Some professionals no longer use a service to provide transcripts preferring instead to implement less than accurate speech to text software like Dragon Naturally Speaking. In the past medical transcription was a highly specialized and highly valued service, now with speech to text, the same service comes off the shelf in a shiny new box.

When Word Wizards began providing transcripts for professional use, we were literally the only game in town. Now we must fight to compete in the global economy, where budget concerns are causing our clients to look overseas for cheaper options, ignoring the lack of quality, accountability, and confidentiality.

A Graphic depicting the global economy in the form of a sphere with flags of each country in 3 D
Welcome to the global economy!

To our great delight, the old saying holds true; you get what you pay for. Furthermore, we wouldn’t be called Wizards if we didn’t have some innovative new ways of adding extra value to our transcription process such as captioning and I.V.L (Interactive Video Logging). Even now we are working on a secret new project that will change the game in the industry, just like we did when we first started adding time code to our transcripts in the early 90s.

A manilla folder with the words top secret in red inside a red box
Shhh!!!

Stay tuned for the exciting conclusion with release of our new transcription service, but for now, “The Mogul Project” will remain top secret.