Approximately $40 billion to $60 billion is spent annually on transcription services, and much of that is outsourced to companies as opposed to using permanent in office workers. This outsourcing provides a tremendous cost savings to companies when considering insurance, benefits, and vacation pay, to name a few.

Approximately 40-50 percent of a Managers time can be spent in meetings. Prior to recording and transcribing the meetings, this was often considered unproductive time. Once these managers experience the benefits of transcribing the meetings and conference calls into hard copy they feel much differently. Now they can utilize the points and areas covered in greater detail, distribute the copy to participants for additional review and clarification, and take action and focus on specific items with greater clarity.

The transcribed material provided action items that individuals are personally responsible for, enhancing productivity amongst participants almost immediately. Managers find that they also benefited when meeting with their supervisors or board members, as they can provide a detailed overview of what was covered in the meetings, and give focused presentations in executive-level strategy sessions. What Makes a Good Meeting

The most successful meetings are prepared in advance with agendas to focus on what will be covered during the meeting, providing a brief overview of areas of discussion, as well as indicate who will be speaking. A good meeting allows audience participation as well, and time is allowed for individuals to discuss topics of interest. The agenda also provides some background information, so that meeting participants can come to the meeting well prepared and ready to participate.

Good meetings are action oriented. Participants are allowed to take action before the meeting is over. Decide what actions need to be taken, and who is responsible, regarding each agenda item and area of discussion. This is where transcribing meetings is tremendously beneficial to all involved. Good meetings allow tasks to be assigned as they arise during the meeting, so that you do not loose sight of them as you expand upon your conversations. All off-topic statements or discussions can be added to follow-up action items to focus the meeting and keep it on topic.

As discussed above, for an effective meeting you must record and transcribe the minutes, and document the group's decisions. All assigned action items will be documented and distributed to attendees to follow through to completion. This fosters a sense of responsibility, and avoids any misunderstanding of who is handling what project. It is a good idea to distribute these transcribed minutes in a timely manner to all participants.

The last step to a good meeting is to say thank you! Remember to thank participants for attending the meeting, and especially those who have shared information and contributed to the discussion. Recognize the efforts of all involved at the end of the meeting, and the entire group will leave feeling positive and ready to take action on the items covered.