With the ongoing globalization and the rise of international trade, the demand for financial/business/economic translations has increased dramatically in recent decade. Currently there are hundreds of companies/agencies/freelance translators offering financial/business/economic translation services but are they really up to the job?
Financial translation is a very sensitive issue; when dealing with international business partners, banks or insurance/security companies there is no room for error. Inaccurate finance translations could easily hinder your business and damage your hard earned good reputation. For that reason it is advisable to do some research before hiring a translation company.
There are some points that you need to have to take into consideration when looking for reliable financial translation partners:
How long has the agency been in this industry? Are they specialized in translation financial/business/economic filed? These questions can be helpful to let you know about the company.
• Translators’ experience/education level.
You have to know if the translators have any experience in translating this sort of content, cause there will be so much terminologies that maybe a brand new translator even have not heard of, like balance sheets, market data etc. At the most time, if the translators have related education background in financial/business/economic it will be of so much help in the course of translation. A good translator should have at least 2 years experience in the given field.
• In-country native translators.
Native translators understand the cultural requirements of their own country. Due to the fact that financial terminologies vary from one country to another, native translators/linguists are in a better position to spot the nuances and evolution of a language.
• Current clients.
You can check if your potential partner has got any current clients doing the some business just like you. Then you could infer if they do a great work for this sort of translation, and have an idea where they stand in their industry. A well known reputation within the industry is of course a great shield to guarantee good quality.
• Fast turnaround.
Time is crucial within the business world. Within a blink of an eye, you may miss a golden business opportunity. Some financial reports are even requires to handle within such a tight deadline that whole night overtime working is compulsory. That is the reason a fast turnaround translation service is always welcome.
• Sample of previous financial translations
If you still feel unsafe, a previous sample for financial/business/economic can be asked to check their quality. Or hundred words extracted from your own document can be treated as a free trial test. This could help you to identify the level of accuracy provided. This is sometime how CCJK does for our new client. For one side, the client can have a better check about our quality and service, for anther side, it is also quite a great chance for us to demonstrate what we can really do for our clients.
In many cases, the success or failure of business internationalization depends on various factors including translation services. That is why it is so important to find a reliable and client-tailored financial/business/economic translations service.
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Take a look at how we helped our client by localizing their project for Financial Industry Translation. Click here to read the complete case study