lavacon2014 kinetic, mangaing the translation process- a peek behind the curtain
DESCRIPTION
Lava con2014 Kinetic, Managaing the Translation Process a Peek Behind the Curtain. An overview of the Enterprise's headaches on doing translations. Business intelligence helps a process to simplify the tasks, take control and establish vendor performance ratings to improve quality, reduce costs and get to market quicker.TRANSCRIPT
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Managing the Translation Process:
A Peek Behind the CurtainPresented by
Scott Carothers
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Today’s Agenda
Where’s the problems/concerns?
Why are translations a ‘black spend’?(Typical process)
Optimized process
Where’s the money & the savings?
Q & A
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• Quality
• Speed to market
• Budget
• Content
The Headache
Translation Concerns
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• Translations decentralized
• No enterprise-wide Translation Memory or workflow process
• Inconsistent pricing
The Headache
Current Enterprise Problems
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Translate This!
D) $46 billion & growing at an annual rate of 12.5%
How Big is the Translation Industry?
A) $7 billion B) $14 billionC) $21 billionD) $46 billion
Source: Common Sense Advisory
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Departments Requiring Translations
Marketing
Legal
HR
IT
Quality Assurance
Engineering
Customer Service
Product Development
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Technical documentation/product manuals
Website localization - eCommerce
Legal – compliance & regulatory, contracts
Product development & marketing materials
HR – training & policy documents
Where are Translations Needed?
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How many countries are you in?
How many products are offered to those countries?
How many languages are required?
Your Translation Spend
Let’s do the math…
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Your Translation Spend
Product Type: Average Pages/Product
Products LanguagesWords per
PageAverage Per Word Cost Marketing Tech Docs Contracts Total Spend
Consumer Retail Products 50 15 250 $0.23 8 50 30
$345,000 $2,156,250 $25,875 $2,527,125
Industrial Products 25 15 250 $0.23 8 300 30
$172,500 $6,468,750 $25,875 $6,667,125
Complex Industrial Products 1 15 250 $0.23 1922
$1,657,725
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$1 spent on translations gains $40-$400 in international revenue*
40% of customers more likely to buy when in their native language*
Your products gain credibility
What is the ROI on Translations?
*Source: Common Sense Advisory
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Translate This!
How many Languages do you need to translate to cover 92% of the world’s GDP?
C) 15 Languages cover 92 % of the world’s GDP producers!
A) 15 B) 27 C) 64D) 93
Source: Common Sense Advisory
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Source: Common Sense Advisory
92% of Worlds GDP Producers
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• Quality
• Speed to market
• Budget
• Content
Translation Concerns
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The ‘Old School’ Translation Approach
No uniform, centralized process
Inconsistent pricing
Seller’s market
No vendor validation or ratings
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No budgetary accountability
Few vendors, often just one
Tied to a vendor’s technology
Vendor controlling Your Intellectual Property (IP)
No vendor validation or ratings
Major Management RISKS
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Translations are a Black Spend
Tucked away as hidden costs in each department
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How many Language Service Providers (LSPs) are in the industry?
D) 28,000 - translations are a commodity!
A) 7,000B) 14,000C) 21,000D) 28,000
Source: Common Sense Advisory
Translate This!
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How many certified translation professionals are in the industry?
D) 500,000+ worldwide
Translate This!
A) 150,000B) 250,000C) 400,000D) 500,000
Source: Common Sense Advisory
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Globalization – the international integration of your products
Translation - the transformation of text from one language to another
Localization - adding cultural nuances
Internationalization - the process
of preparing your files for translation
and localization
Industry Terms
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Translation Memory (TM) - stores previous translations for future use (biggest savings opportunity)
Language Pairs - stored in your TM, 2 words/phrases
Word Matches (100% & ‘fuzzy’ matches) - words in a new project that match previously approved translations to varying degrees
MT - Machine Translation: Google Translate, etc.
Industry Terms
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Take Control
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•Always leverage intellectual property
•Greater quality & consistency
•Faster time to new markets
•Continuously increasing savings
Best Practices
Centralize & Maximize your Translation Memory
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• 24-33% savings average 1st year
• 40% second year
• Above 50% in third year
Potential Savings
Where’s the Money?
20
30
40
50
Year 1 Year 2 Year 3
% Savings
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ACTUAL TM Savings
Example: 150,000 word manual (English to Spanish)
Average translation rate: 1,500 words/day = 100 days
Average translation word rate $0.23 = $34,500
Centralized TM will typically produce a 40% match rateNow = 60 days
Now = $20,700
Cost savings: 40% / $13,800
Time savings: 40% / 40 days
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•Centralized process makes everyone work more efficiently for additional time savings
•Aggregate your volume to make Buyer’s market
•Output is more consistent
Best Practices
Centralize your Process & Workflows
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•Data on each vendor reveals quality, pricing and delivery performance
•Choose the best vendor for every job
Best Practices
Vendor Performance Ratings
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•Aggregate metrics across all users & vendors
•Negotiate from strength
•Know the costs before vendor selection
•Plan & budget based on real numbers
Best Practices
Vendor-Independent Business Metrics
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Best Practices Dashboard
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•Deal exclusively with approved vendors
•Don’t upload proprietary info to the cloud
•Don’t have your distributors translate
Best Practices
Always Control YOUR Intellectual Property
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•$46 Billion industry
•28,000 LSP’s
•500,000 Certified Translators
Bid it out!
Best Practices
Aggregate Volume Creates a Buyer’s Market!
Printing is also a Commodity! $72 Billion Industry with 25,100 Printers
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Best Practices
Automate as Much as Possible
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Yes or No:
If a contract is written & executed in English, is it valid in a foreign speaking court room?
No, only the translated version will be relied upon
Translate This!
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Case Study
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• 24-33% savings average 1st year
• 40% second year
• Above 50% in third year
Potential Savings
Where’s the Money?
20
30
40
50
Year 1 Year 2 Year 3
% Savings
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•Centralize TM Fully Leverage your IP
•Uniform Process Enterprise-Wide Adoption & Use
•Full Transparency Financial Accountability
•Ad hoc Pricing Total Volume Pricing
•Vendor Reliant Vendor Independent
•Metrics Vendor Performance Ratings
Best Practices Summary
Eliminate the Risks
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With a translation process in place
•Controlling TMs improves brand consistencies
•Establishing a process, workflows, glossaries and term bases improves brand consistencies
•More transparency in automated communications improves brand consistencies
Improving the Outcomes
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Scott CarothersSenior Globalization ExecutiveKinetic theTechnologyAgency
Q & A