I’ve answered many calls recently from localization managers complaining that their budgets are being cut, asking for advice. If you are suffering from the same symptom, here are a few pointers to consider when handling localization in a recession.
In a recession, it is normal to cut budgets in an effort to reduce costs. Evaluate the amount that your management is asking you to cut and compare it against other budget reductions within your company. If they are asking you to make relatively bigger sacrifices than others, don’t be afraid to argue for fairer and more equitable cuts. Sometimes you need to stand your ground and claim what should be yours!
Know the priorities
Do you know what geographical areas your company depends on for making the sought after revenues? Do you know what international markets can potentially help your company better navigate this recession? Can you show how they can contribute to reduce risk and increase diversification? Connect with your international colleagues and arm yourself with the facts, then defend your turf!
Be creative and know your options
There are ways to reduce localization costs. It is not prudent to take drastic measures or force your vendors into deep concessions. Look for ways to eliminate fat and reduce costs without seriously impacting your long term prospects with your suppliers or your ability to deliver on future requirements once the bull chases the bear away. For instance, while some of our clients are scaling back their recurring localization projects, cutting new languages or postponing the localization of new products, others are investigating more efficient processes and technologies.
Jump off the sinking ship
If your localization vendor is in possible trouble, don’t be caught unprepared. Your management still expects you to do your job and deliver your localized product on time and within the quality parameters that your users demand. Keep an eye on the stability of your vendor and if you hear of layoffs coupled with financial difficulties, start looking at other vendors and be ready to switch horses even in mid-race. The severe economic turmoil that we are experiencing will claim vulnerable companies in most sectors, including the localization industry.
Don’t lose focus of the big picture
Most companies don’t cast budgets in stone. They can hence be “fine-tuned”. Keep in mind that in a recession, management seeks to cut costs, not revenue. Consequently, if the delay or lack of a localized product can negatively impact your company’s bottom line, you have the fiduciary responsibility to alert your management and fight for what you need to get your job done!
Use idle time effectively
Meanwhile, take the opportunity to strengthen your processes, your technology, your team and your suppliers. When the bull returns, and the bull will return, it will do so furiously and when we least expect it!
Localization in a Recession
As mentioned earlier, there are many ways to reduce your translation and localization costs. Download the below whitepaper to get ten actionable suggestions on how to get immediate relief in translation costs.
Whitepaper 10 Tips on Lowering Translation Costs
Are you under constant pressure to lower your translation budgets and do more with less? This whitepaper gives you 10 tangible methods to reduce your translation costs without sacrificing quality. Guaranteed to save you money and a must read for every translation or localization manager.