If you’re reading this blog, then there’s pretty much only one reason - you’re looking for the best speech to text software!
Today, the usage of speech to text software has increased to a great extent, mainly due to its application in day-to-day life. Sectors like legal, human resources, marketing and even a student has started to use speech to text online converters.
The increase in usage has created a good market opportunity, opening the pathway for a lot of new speech to text converter software. In fact, statistics say that by the year 2026, the voice recognition market is estimated to be an approximate 27 billion USD (that’s definitely huge!).
The increase in usage has created a good market opportunity, opening the pathway for a lot of new speech to text converter softwares. In fact, statistics say that by the year 2026, the voice recognition market is estimated to be an approximate 27 billion USD (that’s definitely huge!).
This actually makes it tricky. The more speech to softwares are out there, the more difficult it is for you to choose. Some speech to text softwares might be authentic while some showcase features that they even do not have, which makes it truly difficult to find and choose one. And that’s exactly why we’ve come up with this blog.
We have seven factors here that’ll help you choose the best speech to text software. These 7 factors will help you get a clear understanding as to which speech to text software is the best and the one ideal for your business. But before that, let’s quickly brush up on the basics so that you can get a better understanding.
What Is Speech to Text Software?
A speech to text or transcription software is a special software that has the capability to convert human speech (both recorded and live) into a text file. Some of the good speech to text softwares will be able to generate text files even from video files, audio files and live sessions as well.
One of the reasons why transcription software is being used increasingly is because of the ease-to-use factor and the processing time is super quick.
Assume you’re in a lengthy session of a meeting. When you have a speech to text software in place, the entire conversation gets converted to a text file that can be used to make businesses decisions, circulate internally or use for anything that could increase productivity.
How Does a Speech to Text Converter Software Work?
We’ve made it look as simple as possible because when get in-depth, it could be mind boggling initially.
A speech to text software basically works with Artificial Intelligence (AI) and Natural Language Processing (NLP) as its basic foundation. AI and NLP have become the evergreen tech of today’s digital world. In fact, AI and NLP are also used in chatbots for customer support purposes and lead generation.
So, here’s a quick overview of how a speech to text software works,
- When audio or a video file is uploaded or a live session takes place, the Natural Language Processing algorithm gets into play - it identifies and processes every specific speech sound in that file.
- This step, we call it the matchmaking phase. Every speech sound that has been fetched will be matched in the built-in dictionary that comes with the software.
- And when the matching process is done, the final results are converted into texts and displayed.
We could have gone more in-depth with the process. But we’ll look into this in a separate article. So, that’s the basics. Let’s get to the part you were waiting for - how to choose the best speech to text software.
7 Factors You Should Look Into Before Choosing a Speech to Text Software
● Accuracy
● The processing time
● Is-It user friendly or not?
● Number of Languages supported
● The Pricing Factor
● Free Plan
● Customer Service and Company Policies
1. Accuracy
This is one of the most important factors you should look into while choosing a speech to text software. A speech transcription software with a low accuracy rate does more harm than good which is why it’s important that you look at this.
EZmeetingAI speech to text software has a 99% accuracy rate making it one of the best transcription software around. Whether you use it for lectures or Q&A sessions or hearings, EZmeetingAI gives you precise, accurate translated files.
It should also be noted that background noises, the quality of the microphone used and a couple of other external factors influence the accuracy rate up to a certain extent.
2. The Processing Time
This is another factor you should look at in length. A speech to text online software that exhibits increased processing time means that the software is either sloppy or it doesn’t have much exposure in terms of vocabulary and is having a hard time transcribing.
EZmeetingAI speech to text software has one of the best processing times in the transcription software industry. The software usually processes an hour’s audio file within 15 minutes.
3. Is It User-Friendly Or Not?
Great accuracy and quick processing times are all great. But what is the point when the chosen speech to text software is not user-friendly? What if the UI is hard to figure out and you do not know where comes what!
Make sure that the speech to text software is easy to use - more of a user-friendly approach. You can even get in touch with the support team of the particular software and enquire about this.
4. Number of Languages Supported
There are must-have features and nice-to-have features. This one comes under the second category. But if there’s a need for you to work with multiple languages, then it’s best you choose a speech to text online software that supports multiple languages.
EZmeetingAI software supports 26 languages making you ready for any scenario you might across.
5. The Pricing Factor
At the end of the day, what’s important for you as a business or individual is the pricing. A good speech to text software with very hefty pricing is no more valuable than a speech to text software that’s more or less equal to the first one (a bit of a downside on features but with a great difference in pricing).
While deciding on this, make sure you compare the pricing of a couple of speech to text software. Take a look at the number of languages supported and what’s the maximum number of transcription hours you are offered. This can help you make a decision as to which speech to text software you should be using.
Remember that not a high-priced speech to text software is not always the best. And a speech-to-text software that’s priced low is not bad. You have to do in-depth research before you choose one.
EZMeetingAI Software comes with three pricing plans. You can find the pricing by heading to our website.
6. Free Plan?
Even if you are comfortable with the pricing, check whether there is a free version on the offer. The free versions help you give an idea of how efficiently the software works in real-time and get an idea of all the above-mentioned factors.
You really do not want to shell in money for a software you have never used before, do you? Choosing a text-to-speech software with a free plan will help you truly understand how the software will help your business. And that’s exactly what you need before getting committed to software!
7. Customer Service & Company Policies
Customer-centric approach is the new buzzword in the support industry. Good customer service is a display of professionalism and it’s with those companies you should do business.
A business that exhibits good customer support will always grow and the customer retention rate will be at its peak. And that's the kind of business we are.
We always put our customers above all. In fact, we even have an “unsubscribe at any time” and a “money-back guarantee” policy. This should tell you how serious we are about our customers’ satisfaction.
So, those are the seven factors you should look into before choosing a speech to text software! Clear, right?
Final Few Words
Speech to text software are becoming handy for all kinds of sectors - Education, Legal, Marketing, Human Resources and more. Having one of the best speech to text software onboard can save time, improve productivity and give no room for human errors.
Also, now that you know how to choose a transcription software, there's nothing to hold you back! Go do your research and choose the best speech to text software!
Or, you can save time and start using EZmeetingAI speech to test software - it’s user-friendly, highly accurate, it has everything you can expect from a speech to text software and has a free version as well!
That said, get started now!
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