How to Integrate Modern Transcription Tools in to the Workflow of Regulated Industries
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The document discusses the integration of modern transcription tools in regulated industries, highlighting the importance of professional transcription services for accuracy despite advancements in automated transcription. It outlines best practices for using automated transcription effectively for compliance, including selecting the right vendors, utilizing advanced technologies, and managing risks through a comprehensive compliance strategy. Experts recommend integrating these tools into a broader framework that addresses industry-specific requirements to ensure compliance and effective risk management.
How to Integrate Modern Transcription Tools in to the Workflow of Regulated Industries
- 1. www.legaltranscriptionservice.com 918-221-7810 How to Integrate Modern Transcription Tools in to the Workflow of Regulated Industries Though automated transcription is highly advanced, transcription offered by professional transcription services remains relevant for its accuracy. Audio/video transcription is required by almost all professionals, whether journalists, lawyers, medical practitioners, and others. In keeping with the increasing demand, transcription technology is advancing with every year and many transcription tools have already become popular. However, reliable transcription solutions offered by professional transcription services still remain important for its accuracy and precision. Now, transcription companies also have in place the latest technology to ease the transcription process and deliver accurate transcripts.
- 2. www.legaltranscriptionservice.com 918-221-7810 One of the advancements in this direction is automated voice transcription. It is the use of software to convert audio to text and the audio is analyzed by means of speech recognition and the text is determined by the programming. This saves time and is ideal for people who prefera do-it-yourself solution. It is a process where an audio or video file is converted into text format using voice and speech recognition technology. After the transcription is done, the transcript is displayed in a browser and can be easily searched, edited, and exported. You can use automated transcription to transcribe and embed captions to video files. For highly regulated industries like finance and healthcare, the transcription tools available now that have advanced processing and deep learning capabilities are good options, but these lack the quality limits for content, relevance and action ability. Regulated firms are required to retain audio recordings for evidential reasons but the search capability of transcription tools is not sophisticated enough to identify all risks. So, how can such industries use automated transcription to the best effect? Industry experts Theta Lake have published best practice guidelines for using automated transcripts as a part of effective compliance. It includes a number of recommendations which policymakers can implement as part of their risk assessment and action plan. The first step is to choose a communication compliance vendor with integrated advanced transcription tools developed specifically for this purpose that can produce highly accurate output. The vendor chosen should provide tools with embedded capabilities that are in sync with the kind of audio input provided; they should provide technology such as machine learning and natural language processing that can account for factors such as language, accent and specialist vocabulary. This will help improve the accuracy of risk detections. It is unreliable to extract the context and meaning of a conversation from the transcript alone. It cannot yet address the basic challenges of scalable analysis. To apply this context using advanced domain-specific techniques trained on regulatory and governance risks, normalization filters are an essential layer. An example would be to first detect and identify content to flag as revealing personally identifiable information for manual review, and then to process this through a guided workflow for review and supervision of the data.
- 3. www.legaltranscriptionservice.com 918-221-7810 Integrating and automating that workflow is vital. This will help ensure that human intervention that is slower and costlier is reserved for content with the highest risk. It will also ensure that the process is commented and documented completely before archiving the content so as to demonstrate compliance to auditors. Compliance ultimately boils down to creating a strong and auditable policy and practice. The risks involved and the ways to manage them will be distinctive to each organization. Any provider of professional transcription service to regulated industries as well as other industry sectors understands that when using transcription tools, these must be integrated into an overall compliance strategy that considers audio content and acknowledges the omni-channel contexts wherein most of the interactions take place – video and collaboration chat. The compliance strategy followed must consider document retention cycles, and action/supervision protocols to be followed to comply with industry regulations and best practices.