Where do you think the world’s largest companies go to buy translation services?
It’s a common misconception that only small and medium-sized companies buy translation services. Many of the world’s largest companies buy translation services regularly, and for good reason. There are many different reasons why large companies buy translation services. Most important industries make products and services accessible to their customers and users. By using these translation services they make their products or services more familiar to their customers.
Financial Industry
Large companies often need to translate financial and accounting documents. They hire translators to complete documents for financial statements, balance sheets, balance sheet reconciliations, and multi-year tax accounting.
Engineering Industry
The translation is often needed for the development of new products and the translation of existing ones. Translation services are required to create multilingual content for the engineering team. Companies interact with customers in different languages and convert the words into various languages.
Health Sciences & Medicine Industry
Translation and interpretation can be a real help. Accurate translation of physician’s manuals, medical records, patient records, leaflets, medical reports, instructions, and prescription information can help healthcare companies deliver world-class information. Pharmaceutical companies wishing to expand their business internationally will find these translation services helpful. These translation services enable travel and tourism by providing information in multiple languages.
The value of the language services and technology industry is estimated at a whopping $49.60 billion. Companies make money from translations to support the needs of their customers. International business partners, distributors, and marketing need supporting materials and tools to generate more revenue.
Every business must eventually go global, and if you are not taking steps to do so, you are simply fooling yourself. Taking your brand global is a fantastic way to increase profits. With global expansion comes the need to hire professional translators for all of the languages you plan to serve.
This is reflected in the growing number of industries requiring translation and interpretation services. The translation services market was valued at $39.61 billion in 2019 and is expected to reach $46.21 billion between 2021 and 2027, representing a CAGR of 2.1%. One of the most important trends in the translation industry is the acquisition of specialist languages services providers by large translation companies.
The Global Translation Services Market Report provides a holistic assessment of the market. It provides a comprehensive analysis of key segments, trends, drivers, constraints, competitive conditions, and factors that play a key role in the global market. The growing involvement of local markets and companies has led to a growing demand for translation services.
The global market study of CSA Research breaks down the major players in this field and provides a list of the best translation companies in 2019. Placement on this list enables LSPs to compare their performance with the big names and get recognition from buyers.
How to Find and Hire a Reputable Provider of Translation Services
When you’re ready to find a company to buy translation services from, you mustn’t be looking for the cheapest provider. A translator who’s paying hourly rates or low commission rates could end up giving poor quality work.
What you should look for are companies that provide the top quality translation services for reasonable prices. This means that they need highly qualified people to do the work, which can be tricky for smaller companies.
Fortunately, there are many quality translation companies out there that provide services for reasonable prices. The key is to find language experts or professional transcription companies in South Africa that provide high-quality job at an affordable price. Large companies look at these qualities when hiring a translation company.
Large companies frequently have a lot of translated materials to manage. Whether it’s one or several languages, the volume of translated material can cause a major problem with translating properly. Companies prefer buying their translation services as an integrated solution. What this means is that they buy translation services as a whole package.
Company Budget Influences Purchase
When it comes to a super agency or a challenger translation company, the larger their size the higher the rates which impact your savings as well. It always depends on your budget, of course. How much you are willing and able to spend on translation.
On the other hand, the lower the rates, the greater the risk of quality being compromised. When a significantly lower rate is offered, there might be a risk of a translation provider not using the right resources, that is, linguists who are not subject matter specialists.
Everyone expects the best translation quality, of course, and everyone promises it. Whether they deliver, that’s a completely different story. To not get stuck with poor quality translation, companies ask many questions before choosing a translation agency.
- What tools are they using?
- What is their process when it comes to verifying the skills and experience of the linguists they use?
- How involved is the project manager in the process of linguists’ verification?
Company Translation Needs and Translation Agencies’ Capabilities
Companies that need a personal approach and very close communication and collaboration avoid going for a super agency or a challenger in the language industry. The reason being that the company’s needs in this department might not match their approach. Large translation services providers usually outsource projects. This lengthens the communication chain. If the company and the translation agency are not on the same page regarding the approach needed and what can be offered, there might be trouble.
Depending on your need to get to know the process to make the collaboration as smooth as possible, it’s also important to establish whether the two parties are a right fit for each other. If a company is looking to translate marketing content and needs assistance, guidance, and education, the largest translation companies might not have the time for this. When focused on profitability and speed, taking the time to sit with the client and go through complex details of the process, might not be what they are open to. The boutique translation companies, on the other hand, might not have enough resources to satisfy your hunger for knowledge.
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What To Avoid
If a translation company that you discuss your translation needs with is convinced that their solutions are the best for you, before they even hear you, it’s best to reconsider. Let’s say you are an expert in the solar plants market. You know what is best for your business growth and how your message should be created.
When you deliver electronic and electrical components and your website has to include very specific terminology and style, don’t let anybody force their ways onto you. You are the industry leader and you know what and how you want to communicate to research your global audience.
The same goes for different types of services that you might need. If a translation company truly listens to you and doesn’t force their solutions onto you, that’s a promise of a good partnership. If you need marketing translation, make sure that when you’re offered transcreation, it is for a good reason.
In terms of a smooth process and swift workflows, it’s usually where the translation tools and translation integrations come to play.
Make sure that the translation company you choose has tight integration with your backend. Do not assume that just because a translation company is a boutique or a challenger category, it won’t be able to integrate with your system. Do not also assume that the super agency will deliver the required results.
Furthermore, translation services providers must have experience and proof that they can deliver a professional job. Make sure that what you expect in terms of industry-specific experience is matched by what the company offers and can deliver.
Never accept general answers to your detailed questions. Use the questions from the checklist provided earlier in this article.
The translation company you think of choosing has to be the right fit for you, but you have to also be the right fit for them. Therefore, look at your budget, your needs, your content, and your expectations. Take a look at the company’s message, approach, and solutions they offer. Analyze their answers to your questions and also analyze the questions they ask you. Are you the right fit for each other?
AfroLingo Is The Right Fit For Your Company
Trust us, your business license can be translated into more than 65 languages, we can convert business documents in less than 24 hours, and translations are certified by us. It is not just global companies, there is greater international scientific cooperation than ever before. Afrolingo has groups of scientists all over the world coming together to carry out research. Good can mean different things for different people, depending on what they are looking for.
In retrospect, it is only safe to say that if you are searching for a translation service provider for your next international project, make sure you consider what translation service provider you would hire. Top translation companies are laying the foundations for the future and have a better chance of serving more customers around the world.
