Why transparency in localization cost is important.

Why transparency in localization cost is important.

As a localization buyer, when was the last time you really looked at the true cost of your various initiatives whether you wanted to assess the performance of your suppliers, or you were attempting to gauge the effectiveness of your content strategy? Beyond standard operational KPI’s, there are several factors that deserve closer attention. The ability to bring additional transparency in your language operations may prove to be a true game changer. 

As we start peeling back the layers and analyzing the details of a typical localization cost structure, we tend to focus on direct costs such as: rate per word; assets management (glossaries, translation memories, style guides); file engineering; project management; desktop publishing; verification and validation being the most common. However, more hidden costs are often overlooked, which can have a larger impact on your Return on Investment (ROI) and overall content and user experience strategy. These include operational indicators such as cost of localization platform and content stack; Translation Memory leverage; cost of rework or schedule slippage to name just a few.

Transparency in cost allows all parties involved (suppliers, freelancers and customers) to track and improve the overall solution they worked together on to deploy and maintain. The ability to share data from all platforms and workflows is crucial in that it provides in-depth understanding of the engagement at hand and helps quickly identify opportunities for continuous improvement. It also supports building increased trust and confidence between buyers and suppliers. In most cases, valuable data is already collected and available by many of the platforms in use, but it is seldom evaluated or shared. 

Also, transparency in cost avoids confusion during the sales cycle by clearly framing the most suitable and most competitive partner. It focusses the solution on expected goals and objectives; feasibility of the workflows and success criteria. Ulitmately, it helps monitor agreed upon parameters to ensure optimized productivity, sustained quality and maximized performance. 

Business leaders are increasingly turning to data to make their operations more intelligent and facilitate decision-making. Over time, Busines Intelligence can become a pivotal component of a data-driven corporate culture. Corporations rely on it to support their day-to-day operations and help them guide new strategic initiatives as it provides historical, current and predictive views of a company’s performance. The ability to collect and structure operational data will help you develop powerful and mutually beneficial value-chain partnerships with your suppliers and customers alike.  

Loquell is a data and content consultancy company. With over 75 years of combined experience in content methodology optimization, technology and data powered customer engagement, data management and artificial intelligence, Loquell delivers integrated technology driven content and data strategies to drive measurable business results and support world-class customer engagement through digital content. From best practices to proven methodologies and implementation of technology infrastructure aligned with your corporate goals, our global experts are here to guide you. 

Our teams of dedicated solution architects and experienced consultants can provide you with the best practices, solid processes, technology know-how and workflow management you need to optimize your localization efforts. Whatever the expertise you need to fuel your global expansion, our cross-functional team will deliver!