In today’s day and age, a company’s success relies heavily on it’s ability to be present on an international level. Developing foreign markets and identifying business opportunities abroad have become crucial activities in all business’ looking to strive and differentiate themselves from the competition.
When looking to expand your business overseas, some very important aspects to consider are language and culture. According to a study conducted in Europe by Common Sense Advisory, 42% of respondents claimed that they would never purchase a product or service if it was not marketed to them in a language they spoke. Due to this emerging importance of language and culture, it is important for a business to take the necessary measures to expand in global markets.
Being able to offer your products to various language groups emphasizes the importance of translation and localization in every business. By being able to present your products in many languages increases your chances of growing your business in international markets. For instance, offering your website in five languages versus two allows you to reach a bigger target market and consequently attract more business for your company. Many organizations now allocate a significantly large budget to translation and localization seeing as how these important activities will greatly influence a company’s success.
Moreover, The Global Language Services industry was worth 35 billion US in 2013, and grew to 37 billion US in 2014. The forecasted growth is estimated at 10 billion US by 2018 (reaching over 47 billion US). Studies have shown that companies that fail to centralize their translation processes have problems respecting tight deadlines and creating quality content. Therefore, the benefits of centralizing translation processes allow you to increase the productivity of your organization. Additionally, you will be able to eliminate redundant tasks and focus on your area of expertise, translation.
Choosing the right solution for your translation processes
In the last 5 years, translation management systems (TMS) have really taken the localization industry by storm. Implementing a translation management system allows you to centralize all tasks associated with the translation process. Generally, time is the most crucial aspect as it plays into every factor: completing projects under tight deadlines, controlling and reviewing costs, managing and updating files, tracking and monitoring activities, etc. If all these factors are controlled, you save time and money. Additionally, by centralizing all translation processes, you will reduce the number of steps in the translation process which consequently will reduce the risk of error.
Consoltec has made sure to establish a project management system that is beneficial to it’s customers. Factors that are crucial to our customers are generally saving time and having a clear overview of their projects. Choosing the right translation management system is essential. Consoltec offers FlowFit, a TMS that facilitates and improves the management of your projects. The integration of FlowFit increases productivity and efficiency within your company. Get in touch with us for your free trial!