Language solutions in a changed economic and global landscape
Since March this year the global economy has been upended as a result of the Covid-19 pandemic, with all economies around the world entering into some form of lockdown in an attempt to contain and slow the spread of this new and deadly coronavirus.
The International Monetary Fund anticipates that global economic growth for this year at -4.9 per cent, and the recovery which is likely next year being more gradual than initially anticipated. Whilst we've not all been infected with Covid, every sector of the economy has been affected and in many cases for the worse. For those of us, such as translators and language service providers, in what we call the “knowledge economy” this has meant increasingly working from home offices (most likely you already were before the pandemic struck), a trend that now looks set to continue in this new business landscape. As well as the inevitable challenges, the new world we are now in will bring with it opportunities too.
How has your business fared during this period and what are your prognostics for the future? A recent study within the language services industry indicated that 77% of respondents had been affected negatively by the global pandemic, noting drops in revenue in the range of between 10-25%. But this has not been uniform across all sectors of our industry, with, not unsurprisingly, software, new technologies, life sciences, pharma, medical translation all seeing strong growth. Has this been your experience too and are you now seeing signs of a recovery? What have the main challenges been in keeping your business operations going and responding to your clients needs?
Strive for better
As a business focused on delivering high-end translation to demanding corporate clients, Lacrosse Language Solutions have continued to deliver its services in an largely uninterrupted manner, taking advantage of technologies, the best software available and innovative solutions that we already had in place prior to the pandemic. Whilst conditions are undoubtedly tough and clients’ budgets are squeezed, we are pleased to say that we remain committed to bringing value to our clients in an as efficient, secure and timely a manner as possible.
Here are some examples of projects we have completed in the first nine months this year in the midst of the pandemic, and we thank our clients for their continued engagement, support and trust in our solutions.
Our in-house legal translation team and external partners are chosen for their extensive experience serving law firms as translators, reviewers or lawyers, giving them a thorough understanding of the specialised language of the legal profession.
- Sworn translation signed using a qualified electronic signature to make delivery easier for a client outside of Poland. Thanks to the introduction of this new method of certification printing and couriering paper copies of the translation was unnecessary, saving time and money for the client in addition to being an environmentally friendly solution.
- On going English into Polish project concerning a commercial dispute. To date this year approx. 4,000 translation pages of legal and technical documentation Two specialists, a legal and technical translator are engaged to ensure the required accuracy and quality. The translators work in tandem on our memoQ Server regularly consult on terminological issues where necessary in order to ensure consistency. The client is a leading corporate law firm.
- Certified translation from English to Polish of a Master Purchase Agreement along with appendices, totalling 300 pages within a very short turnaround. Complexity included the fact that the client continued to make amendments to the source documentation as the translation was being prepared, requiring those changes to also be accurately reflected in the translated files. Thanks to our use of our cutting-edge memoQ software we were comfortably able to meet the client’s demands and deliver an accurate and quality translation in a secure manner.
Our international team of translators specialized in different sectors is available for handling complex multilingual projects. We localize content to make it successful in any location.
- This project started with us being asked to quote for the translation of an extensive set of workplace regulations, safety & hygiene instructions and procurement materials from German into French, Chilean Spanish and Brazilian Portuguese. The total volume of the project amounted to nearly 20 k words. Given our existing relationship with this client we were successfully able to reduce the cost for each language pair on the basis of our CAT analysis run against dedicated client term bases and memories. Thanks to seamless cooperation between our dedicated Project and Account Manager, we secured the client’s confirmation and delivered the project within 14 days following the initial request.
- On-going complex translation project carried out for a leading German industrial company. The project involves the delivery of non-certified translations from English into 10 languages (German, French, Canadian French, Italian, Spanish, Portuguese, Polish, Dutch, Czech and Chinese) of software, user manuals and corporate communications connected with the company’s introduction of a new HR- management system. Commenced in February 2020, the project is still ongoing and requires Lacrosse not only to comply with strict client requirements, but also to coordinate detailed communication with native-speaker translators located in different parts of Europe, and assistance with resolving their detailed questions regarding industry-specific abbreviations and terminology.
- Translation of a complex power point presentation concerning on-site Safety Regulations from German into 18 languages (Chinese, Finnish, Hungarian, Dutch, French, Italian, Croatian, Swedish, Serbian, Spanish, Czech, Polish, Danish, Portuguese, Romania, Russian, Ukrainian, Turkish). The translations were prepared for one of the world’s leading minerals company for its Agriculture, Industry, Consumers, and Communities segments.
- Non-certified German-English translation of a technical text of approximately 38 000 words for the Vienna office of a leading international law firm. The text was rich in industry-specific terms and vocabulary related to technical deficiencies in data centre facilities. Despite the tight deadline and highly specialist subject-matter of the source text, Lacrosse managed to secure the availability of suitably experienced translators and editors and meet the customer’s expectations in a timely and efficient manner.
- On-going (into our third year) high-level translation from German into English of a wide range of court submissions and decisions concerning allegations of collusion and a breach of European anti-trust rules in the road-haulage industry in Europe. Our client is a leading international law firm.
- Certified Translation from English to Polish of over 150 pages for a demanding client from the commercial real estate market. The documentation consisted of financial statements, and several dozen syndicated loan agreements. Thanks to our intelligent approach to project management and the range to tools and resources at our disposal, we completed the project within 4 business days to the great satisfaction of our client.
Lacrosse specializes in financial translations. For the purpose of such projects we have built a team of linguists that mastered not only the target language but also IFRS standards and financial terminology.