The rising need for translation services is developing rapidly across the world. Particularly with advancements in technology, people are becoming more open-minded and connected to other people, countries and cultures. Businesses of brand and profession are realising the importance of localization as a necessary business practice because of internationalization and day-to-day business developments.
Here are another 4 trends making an impact in the language solutions industry:
Yes, competition is impacting the translation industry. Competitors want to stay ahead of the game, and so they see it an ideal strategy to engage language solutions service providers to escalate the process of their translation needs in order to meet the demands of their changing customer experiences.
The concept of competition among companies within their respective industries can be both, a positive and negative effect. To be able to adapt to globalization and internationalization, companies need to allocate budget for strategic growth. Companies that can spend on technology and communicate effectively in multiple languages, will have a greater advantage among those companies that can’t.
Subsequently, companies that see the need to adapt to the changing customer experience will stand a higher chance of scaling their businesses faster than those who are comfortable operating how they have been for years.
Machine Translation vs Human Translation
Machine translation has seen massive rise since 2016 and is developing into what is now called as Neural Machine Translation (NMT). Even online giants like Google is already adopting this new technology in their products. Platforms are starting to use NMT because it doesn’t translate the source text word-for-word but analyses it and delivers a more grammatically correct translation.
Although NMT is on the rise, it is still not a tool for companies to rely on for their business documents because of many factors. Read this for a more detailed explanation on Neural Machine Translation.
Even though businesses don’t fully rely on NMT just yet, it is still widely used by consumers and as the development of these tools improve, will companies start to rely on machine translation as opposed to engaging a language solutions service provider?
More Businesses Using Social Media
The internet is arguably known as one of the world biggest invention and since its inception, it has revolutionized the way businesses operate and run and the way people communicate and learn. It has created opportunities for new developments and one major development that has brought massive impact is, social media.
Facebook, in particular, brings consumers together in one place to interact, connect, socialize, learn and make purchases. This is a great platform and opportunity for businesses to tap on because, whether you’re in the business-to-business (B2B) industry or business-to-consumer (B2C) industry, everyone is on Facebook.
This has led to the rise in demand for translation services. Like it or not, consumers have their standards and expectations when it comes to brand communication. Hence, to just sheepishly translate your marketing collaterals and showcase them on Facebook, can either make or break your Brand. Companies that realise this, take translation seriously and engage with language solutions service provider to translate their collaterals professionally. In some way, a translation company can be seen as a multi-lingual brand communicator.
Focus is now on Quality than Costs
Looking at the lowest costs option is not the best decision any business should make when it comes to language solution services like translation services, transcription services, and interpretation services.
Many companies make the mistake of randomly engaging freelance translators just to save costs. However, this strategy often ends up being ineffective and leads to wasted expenses. Take into account the entire hiring process of knowing your translator’s history, experience, skills, quality and reliability. It is a long process. The question is: is it all worth it?
What you pay for determines the quality you receive. Companies that strive for scaling have shifted their mindset from cost-effective decision-making to quality-deliverable decision-making.
Conclusively, the demand for translation services has increased tremendously and whether you are an individual or a business, you will somehow require language solutions. The many trend factors mentioned that are impacting the translation industry can be seen as opportunities for scale and these create a bright future for the language industry.
For businesses coming to or operating in Singapore, we provide translation services, transcription services, subtitling services, interpretation services, and dubbing services. With more than 30,000 professional linguists worldwide, we are one of the most trusted translation companies in Singapore.
For individuals looking for certified translation, with or without notarization, we provide a quick turnaround of 1 business day. Click here for more information on our Certified Translation Services.