What Is Business Transcription?

Business transcription is a document that provides a permanent record of what occurred in a business meeting of some type. Many companies require this type of transcription for a wide range of meetings, including investor relations or earnings meetings, or as a record of the events in a board or directors meetings. What sets aside a business transcription from other forms of permanent records is that the detail is usually in the form of a verbatim recitation of what was said in the meeting, versus keeping minutes that condense and essentially summarize the events.

The use of business transcription is found with meetings held in a wide range of environments. These include face-to-face meetings at physical locations, as well as meetings held by means of a teleconference or even a web based conference. In decades past, transcriptionists who were trained to use shorthand would often prepare a written copy of the events occurring during the meeting, then use the shorthand notes to prepare a full transcription later on. More recently, the approach requires making an audio recording of the event and then using that recording to prepare the typed business transcription.

Along with using business transcription for high profile meetings, they can also be helpful with creating detailed permanent records for other events. For example, a national or regional sales manager may choose to order a transcript for weekly or monthly conferences conducted with other sales personnel within the organization. In like manner, preparing a business transaction for meetings held by the members of a project committee can also help to create a permanent record of what was discussed in the meeting and in what context.

While many companies manage the business transcription process internally, it is also possible to make use of independent transcription services in order to manage the process. Many telecommunication companies that provide audio and web-based conferencing products also offer this type of service. A written document is prepared from the audio recording of the meeting, then forwarded to a key contact within the client’s organization. Most providers will submit the transcription in one of several different ways, based on the needs of the client. The submission may be in the form of an electronic document attached to an email, a document posted on a secure site for retrieval by individuals with the correct authorization, or even preparing and forwarding a CD-R containing the electronic file.

The importance of business transcription cannot be overstated. Since the transcript will include complete details about who said what in a meeting, the detail can often be very helpful in establishing context for statements made. This can be especially important when using the transcript in order to settle issues that affect the operation of the business, including any legal issues that may arise at some point after the meeting takes place.