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Translation Agency USA

August 14, 2012

In contracting for translation services with an agency or translation company it should be noted that: 1) When translation services are purchased, clients essentially buy the judgment of the translator(s). In most cases that’s an acceptable approach although synonyms and alternate translations do exist. If 10 different translators are hired for the same project we […]

Language Translation Services Providers | Pricing Models

July 15, 2012

Business consultant Gina Abudi lists 5 possible pricing models for businesses. Each are included below with a comment about them and their suitability for use in the translation business. Cost-Plus Pricing. It entails adding up all of your costs associated with offering a product or delivering a service and adding on a percentage for profit. […]

Translation Agency USA

August 14, 2012

Language Translation Services Providers | Pricing Models

July 15, 2012

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Translation Agency USA

August 14, 2012

In contracting for translation services with an agency or translation company it should be noted that:

1) When translation services are purchased, clients essentially buy the judgment of the translator(s). In most cases that’s an acceptable approach although synonyms and alternate translations do exist. If 10 different translators are hired for the same project we would get 10 different translations (to some extent) in return. All 10 could be correct and perfectly acceptable in meeting the objective of conveying the meaning in the original source language, in the target language.

2) When clients want translators to strictly adhere to particular translations of special terms or vocabulary then a glossary must be provided in advance. Translators have no clairvoyant powers (that we know of) to ascertain a client’s undocumented preferred terms, and in the absence of a bilingual glossary will make translation determinations based on their experience and research over the course of a project. Even when supplied with a bilingual glossary of terms translators will make subjective determinations regarding style and presentation so that the intended meaning is optimally conveyed.

Internal client-side reviewers of the delivered translations, native speakers or not, are presumably not professional translators. Their preferences for translations may be valid but they cannot be considered correct to the exclusion of all other approaches. Worth considering is that internal reviewers are also susceptible to organizational bias given their sometimes over familiarity with subject matter, lessening their objectivity and ability to make the best suited translation choices for external audiences.

One suggested effective approach in working with translation companies would be to cooperatively pursue the development of a bilingual glossary of preferred terms for use in ongoing projects. If translations (and translators) are evaluated on the basis of matching the subjective preferences of a particular third party reviewer then this would be an impossible standard (as well as an absurd one). In the absence of developing a more cooperative approach for guiding the translation process then clients are destined to continuously go from one translator/agency to another since the standard for translation quality is ill-defined, and the process for evaluating quality is insufficient (or worse dysfunctional).

Language Translation Services Providers | Pricing Models

July 15, 2012

Business consultant Gina Abudi lists 5 possible pricing models for businesses. Each are included below with a comment about them and their suitability for use in the translation business.

Cost-Plus Pricing. It entails adding up all of your costs associated with offering a product or delivering a service and adding on a percentage for profit.

Comment: Translation agencies and many businesses inherently rely on this pricing model since a certain profit level is necessary in order to continue operations. Pricing is also influenced by a need to remain competitive. Profit margins are also affected by controlling costs.

Value-Based Pricing. This model entails setting your price for your products and services based on the perceived value to the customer. The price to one customer may be different than the price offered to another customer.

Comment: The perception of value does factor into pricing in some cases. Rush pricing is one possible example since translation processing costs might not always be higher. Still the perceived value for the service is higher and clients may be willing to pay a higher price for faster service.

Hourly Pricing (time and expense). For businesses that offer services, you may choose to offer hourly pricing (time and expense) for your services.

Comment: Per word pricing models correlate more or less with hourly pricing, although the rate of translation varies with each translator. More challenging subject matter can also affect the processing rate. Still per word pricing is a standard pricing model in the industry.

Fixed Pricing. This model charges the client a set price for a service offered. For example, a project-based company may charge a client a price of $25,000 to complete a project regardless of how many hours are expended or how many resources are involved.

Comment: Some translators/agencies promote a per page pricing although word density on pages can vary significantly which make this method less optimal than a per word method.

Performance-Based Pricing. In performance-based pricing, you invoice your customer based on the performance of the product or service you deliver. Such a pricing model might only be used for certain clients and in specific situations as it requires significant agreement (in writing) between you and your client.

Comment: This pricing method may be the least suitable one for translation services. Performance standards are also subjective and clients are rarely in a position to make this evaluation.

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Translation Agency USA

Language Translation Services Providers | Pricing Models

Translation Agency USA

Language Translation Services Providers | Pricing Models

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Translation Agency USA

Language Translation Services Providers | Pricing Models

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