Did you know that:
- There is a 47.4% increase in trade between U.S. and Turkey for the period of Jan – July 2011 compared to the same period last year?
- Turkey has 71 million of the world’s consumers and per capita income is forecasted to grow at 7% over the next few years?
- Turkey’s imports have increased from $41.4 billion in 2001 to $185.5 billion in 2010. U.S. is the fourth largest exporter to Turkey.
- Turkey is one of the few countries where USA has had a trade surplus totaling $6.3 billion in 2010.
- In 2010, the largest U.S. export category to Turkey was aircraft and parts.
- In 2010, the following states had the highest dollar amount exported to Turkey: Texas, Washington, New Jersey, California, and New York.
All in all, the follow merchandise is in great demand in Turkey: aircraft and parts, iron and steel, machinery, cotton and woven fabric, and mineral fuel and oil.
Are you looking to export your products to Turkey also? Contact us today for a free price quote for your document and website localization needs.
The big multinational financial services institutions that are affected by the financial crisis have another issue to manage; addressing Asian consumers’ anxiety! As a result, the consumers in developing and developed Asian nations would prefer local banks over multinationals.
According to McKinsey Global Institute, “Almost 81 percent of consumers in emerging Asian markets and 63 percent of consumers in developed Asian markets consider it important to deal with a local institution.” Moreover, this preference is more attributable to upper and affluent segments across Asia.
As if there weren’t already enough challenges to manage for multinationals!
On a positive note, consumers across Asia do want to consolidate their banking and deal with one financial institute that can meet all of their financial services needs. Herein lies the opportunity.
But in order to take advantage of this opportunity, multinationals will have to dig MUCH deeper in localizing their offerings. More often than not, financial products / services and their corresponding content are derived at the home office. It is yet to be seen whether this role can be handed over to the local office/branch.
When it comes to localizing your products and services nothing will compare to your employees going out of their way to service customer needs. This factor might be the deciding factor in retaining customers. But in order to bring in these customers, customers need to be acquired and nothing works better for acquisition than localizing your Marketing campaign(s) for the various countries where your firm operates in Asia. Even within a single country there might be a necessity to further localize your Marketing campaigns. For example, there are cities in China that are close in proximity, but citizens might speak simplified version of Chinese in one and traditional version of Chinese in the other city. Not to mention Indonesia where every province has its own language, culture, religion, and history.
Why Document Translation Workflow Matters
I’m sure you’ve heard the saying that not all cars are made the same way! Similarly, not all documents are translated the same way. The final quality of the translation is completely dependent on the type of workflow employed for your specific translation. Generally speaking, every document translation workflow should go through at least 2 linguists. But there are instances where more than 6 linguistic resources may be necessary in order to create the best possible translation of a document.
Why such a difference? I’m glad you asked! Let me explain.
A document such as a birth certificate can be accurately translated by a single well-experienced linguist with a careful review by the project manager.
A document such as a legal contract, technical manual, medical record, financial statement, adoption application, etc should never be translated by a single linguist. Instead, it should be translated by 2 linguists with a careful review the project manager.
A document such as patent application, high-level business expansion plan, and drug application should go through the back translation process which might include 5 to 6 linguists plus the project manager.
All in all, the type of workflow used for your translation will ultimately influence the quality of your translation. When you speak to your LSP, be sure to discuss your various options I’ve mentioned above.
Select EPIC Translations As Your Language Service Provider
Remember the age-old story of the Tower of Babel? According to it, people used to speak one universal language until they were punished by suddenly speaking in different tongues. Hence, the difficulty we now have of understanding each other when each one is speaking his or her native speech. If you’ve tried going on a trip to a country where everything sounds strange, you’ll know exactly how frustrating this can sometimes be. And this is true for language both in the spoken and written form. It’s quite hard for communication to happen when you have a document in Italian and the person who is supposed to read it only knows English or Spanish.
Best Document Translation Services
Like the story mentioned above, we at EPIC Translations provide equally epic services in document translation. Our company believes that while the various languages of the world are unique in their own right, these differences should create no barrier to effective communication. To this end, we offer the best document translation services to ensure that you won’t have to struggle with attempting to read words you’re not familiar with.
EPIC Translations knows that time is no man’s friend. In this modern world where everything is fast-paced and instant gratification is the demand, we provide unparalleled translation services that meet our client’s time constraints. We know that the success of businesses hinges on certain requirements, and we are up to the task of filling them. We have consistently met deadlines set by customers and continue to give the utmost dedication to others that seek our expertise. In fact, our confidence in conveying order on time is seen in our Deadline Guarantee, an offer unique to EPIC Translations.
We have a team of highly specialized professionals to perform all language translation services of all kinds, be it for technical translation or documents in other industries. These translators have the necessary experience and skill for delivering complete and accurate content to our customers. We offer document translation in the following languages: English, Arabic, Italian, Chinese, Russian, Hindi, Thai, French, Spanish, German, Portuguese, Japanese, Korean and African languages.
Task Life Cycle
EPIC Translations uses a Task Life Cycle (TLC) in order to perform quality professional translation services. Using a 3-person team, we follow certain steps that involve project management, editing and strict proofreading to make sure that translation has been rendered well. In addition, we have an internal tracking system to monitor progress in all document translation projects, likewise allowing us to link clients and translators from different locations around the world. This system helps us to tailor-make translation services to your specifications for more effective document translation.
Knowing the value of communicating properly, we at EPIC Translations guarantee to keep you informed of how your project is going every step of the way. You can log onto our website as a customer to check on updates regarding the translation services you want us to do. Unlike other companies, you won’t have to keep wondering if your document is going to be delivered soon or continue doubting the authenticity of your translator.
EPIC Translations has been doing business with customers globally, and have a roster of contented clients who have seen first-hand what we can do. We offer our translation services at the most competitive prices in the shortest time possible and can reduce your total costs with software that creates translation memories. This means you won’t have to keep getting a certain document translated several times over. In addition, we have strict confidentiality clauses to protect your company’s privacy and document content; we never give out our customers’ information to other parties.
So come to us for your needs in translation services! We have an easy quote box for you to let us know in the quickest time just what it is you want. By filling in the form, you’ll be well on your way to receiving best document translation services that are sure to satisfy you!
Acquiring Translation Services
If you have operations in multiple countries or are looking to establish operations in multiple countries then there is a strong probability that you will need to translate some of your content. You might ask yourself why do I need to take translation services seriously?
Can you imagine a foreign company expanding to the USA and not having their Marketing material in proper English? Or their Customer Service representatives not knowing the company policies? If this seems unprofessional & unprepared, then it will also be unprofessional & unprepared for your organization to expand to another country and not be able to properly communicate with your customer base in their native language. In fact, a study conducted by the independent market research firm Common Sense Advisory found that customers are 6 times more likely to buy if product information is in their native language.
Additionally, there will be a need to put the Operations pieces in place before you can start operating in a foreign country. For example, you might need legal contracts, financial documents, engineering specs, and company policy documents translated. Furthermore, it is more likely that you may need translation services on an on-going basis rather than just a one time deal.
With that in mind, there are four avenues to consider in your acquisition of translation services:
- Use internal employees as translators in addition to their regular job functions;
- Hire new employees as dedicated translators;
- Outsource all translation needs to a Language Services Provider (LSP);
- Use a hybrid approach of the 3 options
The first thing to do is to analyze and estimate your need for translation services. Historically, companies who are expanding overseas have underestimated their need and did not properly create an acquisition infrastructure for translation services. As a result, not only did they have to spend 25% to 40% more on translation services, but also had to accept the translations at a lower quality due to the fact that the content needed to be translated urgently.
Once you’ve established your level of need for translation services, the next step in the process is to decide what approach you want to use. There are pros and cons to all 4 approaches.
Using internal employees as translators in addition to their regular job functions can seem to be a very attractive option. If your translation needs are infrequent and do not require a certain background then this option might work. For example, if the employee that speaks the target language is in Finance and you need a Financial statement translated then this option might work. But it is not recommended to use the internal employee with the background in Finance to translate a Legal contract even though he/she might speak the target language. The reason being that the employee with Finance background might not be familiar with the Legal terminology. Another thing to keep in mind is that not all speakers of the target language can be translators.
Hiring new employees as dedicated translators might not be economically feasible for all companies. In addition to keeping them busy all the time, you also have the challenge of acquiring and maintaining a sustainable translation infrastructure in place. For example, having an Information Technology infrastructure for Computer Assisted Translation tool, Translation Memory, and Terminology files requires careful planning and can be quite daunting for most small to mid-sized companies.
Language Services Provider
Outsourcing all translation needs to a Language Services Provider (LSP) is an option that many companies give a serious consideration to. However, this option might not be feasible for all companies because it requires the considerable level of integration of the LSP into your documentation operations. For example, it might be worthwhile to implement translation management software to automate most of your translation needs. This will not only automate your translation services related operations but in the long run, it will also cut down your translation costs in various ways. In order to do this, you have to have a stable demand for translation services.
Using a hybrid approach of the 3 options is something that most companies that have been acquiring translation services for 2 to 3 years end up choosing because it offers the most flexibility.
It is noteworthy that if you’re just starting out in acquiring translation services, your best option is to go directly to a Language Services Provider (LSP) because you will need the experience and the quality is driven workflow of the LSP. Moreover, an LSP such as EPIC Translations, can provide multiple linguistic resources and customize a translation flow that caters to your business that yields a world-class production ready translation.
In our next white paper, we’ll go over how to select a Language Services Provider (LSP) that can adapt to you and your business needs. To automatically receive the next white paper, please subscribe to our monthly newsletter on the right side.
Once you have decided that you want to start exporting to BRIC countries, the next step is to decide where exactly to start at! Simultaneous expansion to all 4 countries should be undertaken only if you have significant resources at hand, otherwise it’s a smarter idea to tackle one country at a time.
We tell our clients the following criteria (among other things) to use when making such a decision.
- If B2C, what country has most demand for my products / services?
- If B2B, what country has the most footprint of my clients?
- What country has more qualified human resources?
- What country has a more dependable transportation infrastructure?
It is vital that you respond to these and other questions in as much details as possible. Your responses should be based on independent market research.
At the end of the day, no mater what country you decide to expand to, having a world class translation of your content might be the deciding factor between success and failure. We tell our clients to translate the following content in order to correctly get started:
- Product / Service manuals
- Legal contracts
- Company policies
Money spent on translation services will have an immediate return on your investment as you will be able to connect with your customers / clients at a deeper and native level.
“Research indicates that many companies producing multilingual documentation are using Benefits Of Translations Memory systems. Usage of TM correlated with text type characterised by technical terms and simple sentence structure (technical, to a lesser degree marketing and financial), computing skills, and repetitiveness of content.”
Those companies that have used translation services in the past know the benefits of translation memory. But if you’re just getting started with translating your content and are not sure how to leverage your translated content to reduce your future translation costs, you’ve come to the right place! I’ll keep this post short & sweet so you can take away the necessary information:
In the simplest form, a translation memory, or TM, is a database of sentences or paragraphs that have been previously translated. Each unit that contains source text and target text is called a segment.
So, there you have it. Feel free to contact us should you have any questions as you dive into the world of translation services.