By all accounts, the localization industry is poised for continued growth, with economic indicators projecting it to reach US $79B by 2024. The language services sector has proven to be recession-proof, with economic activity bouncing back quickly in industries such as pharmaceuticals and manufacturing, and the accelerating pace of globalization driving demand in the language market.
However, the industry is also witnessing structural shifts with a new round of mergers and acquisitions that are reinforcing the positions of “super agencies” while potentially creating opportunities for mid-sized players to carve a niche for themselves. In this rapidly evolving digital landscape, the ability to adapt quickly to changing norms and regulations will be crucial for companies offering agile and innovative solutions to stay ahead of the competition.
While consolidation is a positive development for the industry, it could also render legacy content and localization infrastructure obsolete, requiring a daunting data migration exercise for organizations. However, this technology consolidation could provide an opportunity to take a fresh look at next-generation tools and the value they can bring to the bottom line.
When planning for success, there are several key considerations to keep in mind. Business continuity during the transition, data security, and the preservation of localization assets are all crucial elements that must be meticulously planned and executed flawlessly. The overall scope of the transition project must be outlined to define goals and priorities, mitigate risks, and ensure all stakeholders are in full agreement with clear expectations and contingencies. It is highly recommended to have an independent third party manage this transformation engagement to ensure full participation of all parties involved and facilitate negotiation and mediation across several teams.
Despite the daunting prospect of data migration, it can ultimately result in realigning content and localization strategy to better support corporate growth, customer experience, and the continued international expansion of brands. With technology advances enabling corporations to offer tailor-made customer engagement, Loquell BV is a data and content services consultancy company with over 75 years of combined experience in content methodology optimization, technology-powered customer engagement, data management, and artificial intelligence. Their global team of dedicated solution architects and experienced consultants can provide best practices, solid processes, technology infrastructure, and workflow management to optimize localization efforts and deliver cross-functional expertise to go global.