Need to navigate the world of international business and finance? If that’s the case, you’ll need to look into financial translation services. And to do so successfully, you’ll need to know a thing or two about how financial translation works, and how localization and translation increasingly drive the complicated web of financial and regulatory machinery running today’s global economy.
Human and Software Financial Translation Essentials
Whether dealing with the in-country reviews, translation memory (TM) or source and target files that come with localizing specific financial software platforms, or else working with a team of human translators tackling annual reports, international bank statements, balance sheets or contract agreements, quality financial translation lives and dies based upon the skills of the translators involved. While this may seem like an obvious thing to point out, it can never be overstated how important it is to work with a localization and translation team that has deep translation and financial acumen in the global markets your company operates in. The key is finding translation companies that know how to marry both of these complex fields (translation and finance) together.
A Few Handy Financial Translation Skillsets
The list of skills financial translation services need to pay attention to is long and varied, and apt to change from country to country. The ability to deal with a variety of financial terminology, industry acronyms and jargon in the source and target languages is a necessary, as is the capacity to sift through different ways of handling numbers, dates and currencies across borders, or even within different financial sectors inside a specific country. A misused comma or decimal point can spell financial disaster when dealing with international numerical currencies.
In addition to understanding the commercial landscapes that already exist in different countries or regions, translators have to be prepared for new financial lingo, abbreviations and deceptive terminology (aka “false friends”) that are always coming into play. This means a financial translation specialist, or a localization & translation service coding key financial software, need to stay up-to-date on financial trends, as well as legal and regularity changes and challenges arising in international marketplaces, which are constantly in flux.
Choosing a Financial Translation Service
Financial translation services that consistently deliver quality translation products are the standard your firm should aim for. Anything less is unacceptable. When looking at localization companies and translation companies, you’ll come across all kinds of rates and approaches to financial translation and software localization projects. Dig into the work history of your possible choices, look at the years of experience translation companies bring to the table, check out unbiased reviews, and ask potential financial translation services many detailed questions.
Ultimately, you’ll want to go with a translation service that offers competitive rates, has years of financial translation experience — and perhaps most importantly of all, employs skilled translators, financial experts, engineers and project managers able to provide your business with topnotch financial translations on time, every time.
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