According to a report by IbisWorld, translation services are expected to keep on growing and reach $37 billion in 2018, that’s an indicator of the high demand for translation services worldwide. Businesses need to translate content for many obvious reasons, most important is to communicate with their non-English speaking customers.
I have been working in the localization industry since 2013, this enabled me to learn the nuances of this industry and how can I help companies that require translation to save thousands of dollars on translation.
Today I’m sharing with you 5 tips that will help you cut around 30% of your yearly budget spent on translation.
1- Deliver editable files to your translation supplier
Whenever you need to translate some documents, always send editable files to your translation provider, this would save you the cost of OCR (the mechanical or electronic conversion of images of typed, handwritten or printed text into machine-encoded text). For example, instead of delivering scanned copies of papers to your translation company, send them the source files (PDF or Word files) that would be easier to start the translation and avoid files conversion cost. That is also applied to the translation of marketing materials such as company profiles or brochures, deliver the PSD source files instead of the uneditable design files. If you don’t have the source files, the translation company will charge you for translation and layout (adapting the graphics layouts to match the new target languages).
2- Build your own translation memory (TM)
Most of translation buyers I have met are not even aware of what the translation memory is and how it can reduce translation costs and improve translation quality by keeping the brands message consistent across all brands communications. First of all, let me explain what TM is, it’s a linguistic database that captures translations you did previously for future use, it helps reducing translation costs by 40% as you will not have to translate the same text again and again and will definitely help with completing projects more faster.
3- Using translation management system (TMS)
If you asked your translation services providers about what TMS are they using and the answer was ambiguous, then it’s better to look for other alternatives; a good translation partner will be familiar about TMS and probably will have their own developed TMS in place. TMS can streamline your translation projects more efficient and cost effective, it could reduce project time frame by streamline the translation projects between translators and project managers, allowing you to complete your translation project faster and will enable you to be in a position where you can take corrective decision if needed.
4- Centralize your translation projects with one translation vendor
It is well known that translation companies give lower rates for those customers who prefer to work with them regularly and consider them as the primary vendors to manage their translation requirements. This encourages translation companies to give better rates in order to maintain the revenue generated from these accounts. Working with one vendor to manage your translation requirements sounds the best idea as it will save you a lot of time communicating with many other resources. Centralize the translation requirements with one vendor will save you up to 20% of your yearly translation budget
5- Translate on bulk to save up to 50% of repetition cost
Basically when you send a file to a translation company, they quote you based on number of words, for example if your files contain 1000 words, they will charge you 1000*$.07 (price per word)= $70, but have you ever think about how many words are repeated across the entire file (hush, top secret)? Most of translation companies quote with the same pricing for both new and repeated words but the truth is you should only be charged for new words and 50% ~ 30% off charged for the repeated words. This would only be possible if your project volume is big, that’s why I encourage you to gather all your translation requirements once per time instead of sending them in batches to get use of the repeated words percentage across the entire project files.
If you have any questions about the above 5 tips, please call us now on 07748851358 or email us at email@example.com.
Written by Ayman Saa’d | Marketing Manager at Future Group Translation