Why it’s important to streamline your lease agreement translation process

Because businesses are now required to disclose lease commitments on the balance sheet with FASB’s ASC 842 standards update, there is going to be significantly more work for corporate accountants and lawyers, especially if foreign leases are involved. Developing a streamlined lease agreement translation process with the right technology and lease translation partner can mitigate time, cost, human error and cut down on the stress that this new requirement can bring.

There are many reasons for taking the time to create a workflow that is as automated and effective as possible.

1. You may be dealing with potentially hundreds or thousands of lease contracts

Large corporations may work with a sizable number of foreign lease operators, and that means they likely have those leases in foreign languages. Even if you have translators in-house, this work could flood their desks for years.

Automation is the answer when it comes to having so many leases that need translation. The more that can be taken care of through established processes, such as converting all scanned documents to a searchable and translatable file format and having a centralized file management system will save time for the rest of the workflow.

2. This is not a standard translation process

With standard translations, human translators are essential. While they have their place with lease translation documents, much can be handled through an enhanced machine translation process. A human translator can review the machine translation for accuracy, so translators spend less time overall on the process when machines assist, which means the translated leases can be processed quickly and moved on down the workflow process.

3. Leverage each lease translation to minimize costs

Because much of the legal verbiage will be identical from lease to lease, computers can automatically parse those sections and insert these previously human translated content using unique translation memory, saving time and money on the translation process while still retaining human-quality translations.

4. This is a people-intensive process

With so many people involved in the workflow, from administrators who scan the initial lease, organize the files, direct them for translation and then for abstracting; to the translators, editors, and project managers involved in the translation process; to the accountants who ultimately utilize the lease information, it can be easy for things to get out of control. That’s why having centralized file management, and an established and streamlined workflow process is essential.

Take the time to identify what your lease agreement translation process will look like, including all participants in the planning process. Having an established workflow will mitigate stress, problems and costs.

Contact us today, if you’d like to discuss how to streamline your lease agreement translation process.

Should you hire a nonprofessional translator or a translation agency

Should you hire a nonprofessional translator or a translation agencyAs a translation company, we depend on professional freelance translators constantly. This article addresses nonprofessional translators and is specifically making a comparison between a nonprofessional translator and a translation company. Clients sometimes debate if they should use an individual they hear of (it could be a colleague, friend, or second cousin’s best friend’s girlfriend) to translate a document or go to a professional vendor. This article is meant to address this decision.

While you might pay less up front with a nonprofessional translator, you’ll likely end up spending more time or money than you would if you went directly to a skilled language service provider with your project. Here’s why you don’t want to go the seemingly cheapest route.

They may or may not be professional

The single biggest problem with nonprofessional translators is that you can’t always be sure how dedicated they are to their work. Will they quit your project at the first sign of a “real job” or take off for weeks without letting you know? Will they be there and ready to make edits if you update the document?

When working with a translation firm, you’ve got a certain amount of structure. You’ve got a project management system for taking your document as it is and returning it to you in the targeted language. You’ve got a point of contact who can update you at any time on where your project is in the pipeline. They respect your deadlines. And the translators are vetted, which gives you a degree of confidence in their ability to deliver.

The quality probably won’t be as high

When you work with a nonprofessional translator you can’t vouch for, you don’t know what kind of quality you’ll get. One translator might do a great job of translating lifestyle-type content, but might flail when you give her your technical medical product copy. This isn’t something you want to discover when your application to submit your products in another country is due. Also, humans make mistakes. So without an editor, some errors are likely to appear in the final version of the translation.

Translation agencies depend on a team: a professional translator, an editor, a proofreader and a Project Manager. Typically, translation companies also use SOFTWARE TOOLS to BETTER MANAGE costs, time and keep language consistent. While no two translation companies are the same, the value-add of a translation company is that they likely already went through the process of identifying high-quality professional freelance translators already.

It could take longer than you want

Nonprofessional translators could take longer to translate simply because they may be busy, or not be using industry tools, whereas a language service provider almost certainly uses all technology tools to minimize time, better control expenses and ensure full consistency. Moreover, they will always have a team of professional translators ready from the moment you approve a project. This tends to result in faster and more consistent translations.
If you attempt the translation in-house and don’t have a dedicated translator with the right tools, then you’re also competing against the deadlines on any other projects that person has on her plate.

They’ll be limited in their languages

If you only need a document translated into a single language, any professional translator with the vocabulary and time can handle it. But what happens when you want that same document translated into multiple languages? That same translator probably can’t help you. Then you have to find many translators, and you end up with multiple translations in different tones and styles, where you want consistency across all languages.
A translation agency can simultaneously work on all your projects to get them done faster.

That argument about saving expenses versus a more comprehensive approach? It depends how it turns out and whether or not you’ll ever need a translation again. With a language service provider, there are oftentimes cost savings due to the leveraged use of translation memory, legacy archives and time saved from not getting things edited or re-translated again. They’ve already done the work and found the professional translators we all rely on.

What Facebook teaches us about globalization and translation

What Facebook teaches us about globalization and translationLove it or hate it, Facebook continues to keep the world wrapped around its finger. If you need proof of its world dominance, take a look Facebook’s most recent annual report.

Here are just a few of the surprising statistics and claims made in the report:

  • Generated $13 billion in the EMEA region;

  • Had a $21 billion economic impact on Central and South America;

  • Had a $100 billion economic impact on the United States

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5 medical device industry trends that affect translation

5 medical device industry trends that affect translationAs the science and technology industry continues to update and evolve at a rapid clip, so does your translation needs. Industry trends directly affect the way you present your medical device translations. Without keeping your product labels, marketing materials, and usage guides up-to-date in all languages, you could put your company at risk of losing sales – or worse.

Here are five medical device industry trends that will require you to take a second look at your translations.

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How to localize a medical device translation for your website

How to localize a medical device translation for your websiteOne of the costliest mistakes global businesses make is not localizing their medical device translation content. Localization goes beyond basic translation work: it involves digging into the local culture, getting to know what drives consumers in various areas to buy, and learning about the areas where your sales team does business.

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Terminology management software for your translation needs

Terminology management software for your translation needsWhen you’re reading a product label or instruction booklet, how much jargon do you see? Chances are quite a bit.

Jargon and technical terms fill the pages of documentation across all industries. High compliancy industries are especially prone to seeing technical verbiage in content. When translating these terms, many translators get stuck or confused.

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Notarized Translations: What is a notarized translation and do you need it?

Notarized Translations: What is a notarized translation and do you need it?Translations extend beyond product labels, booklets, and printed materials. There are some documents that need to get sent to the authorities and officials to aid in a case or a decision. If that’s the case with your text, you might require a notarized translation.

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6 things to know about marriage certificate translation

6 things to know about marriage certificate translationCongratulations! You’re married and now it’s time to start your life with the person you love. As a blissful newlywed, you want that life to begin right away. However, if your marriage happened overseas and you want to move to the United States, you might need to have your marriage certificate translated.

Marriage certificate translation is more complex than it might seem on the surface. Because it’s a legal document, it requires a knowledgeable translator to complete the work required by United States Citizenship and Immigration Services (USCIS.)

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The pitfalls of inconsistent patient-reported outcomes translations

The pitfalls of inconsistent patient-reported outcomes translationsFor years, translations of patient reported outcomes (PROs) have had inconsistencies. The way the translations are managed and the way they are published vary from practice to practicThis can cause tremendous difficulty in the pharmaceutical and medical field. Without proper information, how will patients understand what they need to live a healthy life?

Here are some of the pitfalls faced by the industry.

Inconsistent terminology

There are various ways to describe the same work. For example, if you plan to test a new translation on a small group of people to ensure accuracy and comprehension it can have two different names – “pilot testing” or “cognitive debriefing.”

It’s inconsistent verbiage like those two terms that confuses people in the pharmaceutical and medical industry.Although both cognitive debriefing and pilot testing can use a small group of people, pilot testing can also refer to testing on a larger group of people. This can have a profound impact on the meaning of a text depending on the context. In translations of PROs, this can change the meaning from language to language.

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The importance of cognitive debriefing in the medical device space

The importance of cognitive debriefing in the medical device spaceHave you ever sat across the table from a someone whose native language was different than yours and wondered how well they understood you? Did you ask a non-English speaker a question and receive an unusual response in return?

Context and nuances lose meaning across translation. What might seem obvious in one language could mean something completely different in another.

Having a slight misunderstanding in a friendly conversation might not be a huge deal, but in your medical device marketing, it is. Misunderstandings could cost money, lose sales, and cause a host of legal problems. To avoid these catastrophes, cognitive debriefing is essential. Read more