When it comes to expanding your business to a new market with a different language and culture, translation is crucial. It can be marketing material, contracts, legal documents or your e-commerce site that needs translating. But certain industries require translation services more than others. If your business falls into one of these industries, it would be worth planning for translation and localization as you expand into new markets.
At trustedlsp, a Language Services Provider (LSP) directory, we have worked with clients from various industries. In this article, we will take a closer look at the top seven industries that we believe have the most need for translation services.
- Banking and Finance
The banking and financial services industry has a global impact on everyone's financial situation, making it critical to the world economy. The ability for people to understand their financial situation in their own language is key to making the right decisions for themselves and their families. Therefore, accurate translation of bank statements, investment reports, tax reports, and shareholder information is crucial for maintaining the stability of the global economy.
2 Healthcare and Medical
The translation needs of the healthcare and medical industry bring their own kind of pressure, ranging from health insurance to medical documents to assisting people in foreign countries to speak with health professionals. On one end of the spectrum, these translations can be a matter of life and death, while on the other end, they can be preventive, ensuring that everything is in place in case of an emergency. It is vital that all patients and customers understand how they are being treated or covered.
3. Education and Training
Regardless of their native language, every child should have the right to an education. The U.S. Department of Education mandates that “schools must communicate information to Limited English Proficient (LEP) parents in a language they can understand.” Therefore, strong translation in education and training is necessary for report cards, training and educational materials, school guidelines, and processes.
4. Retail and E-commerce
Expanding your retail business to a new market requires understanding the people, language, and culture. Translation is a given, but localization is key. Localization involves total immersion into the new market. If you’re opening your retail business in Sweden, for example, an LSP can help you choose the dialect that would make the most sense for your business.
5. Legal
Legal documentation protects our human rights and drives economies. Therefore, it is essential to have contracts, wills, identity records, court documentation, and all other legal documents accurately translated. This is critical for the running of personal lives, businesses, and governments.
6. Travel and Tourism
The travel and tourism industry was hit hard by the pandemic, but it’s now showing signs of bouncing back with a vengeance. For countries that heavily rely on this industry, their marketing efforts are crucial to attract visitors. Accurate translation and localization of their marketing material are necessary for making the right impression on potential visitors.
7. Technical Translation for Industry Fields
Technical translation refers to the translation of technical documents such as product manuals, user guides, technical reports, and specifications. In industries such as manufacturing, construction, engineering, and information technology, technical translation plays a vital role in ensuring that equipment is used safely and correctly, and that products are manufactured and installed to meet quality and safety standards.
Technical translation requires a specific skill set and expertise in the field being translated. Translators must have a deep understanding of technical terminology, jargon, and concepts, as well as the ability to accurately convey technical information in the target language.
In addition, technical translation often involves the translation of complex diagrams, graphs, and schematics. These require specialized knowledge and expertise in the use of computer-aided design (CAD) software and other technical tools.
In conclusion, if you’re expanding into a new market, it’s worth considering translation and localization services. Some industries require more translation services than others, such as banking and finance, healthcare and medical, education and training, retail and e-commerce, legal, and travel and tourism. By working with a reputable LSP you can ensure that your translations are accurate, culturally appropriate, and meet your business needs.
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