Declining or low translation rates has become a major trend these days. Clients prefer to outsource services to a translation vendor, who bids the lowest price in the entire market. Hence, it can be rightly said that the competition for quoting or bidding the lowest price is at its peak, resulting in an ‘all-time loss market’ in the translation industry.
Obviously, clients cannot be blamed for this market condition, today. They do not know about the translation processes or the pain and efforts it takes to deliver an authentic translated copy within the given time frame. The culprit is the lowest bidder, i.e. translation vendor(s), who quotes any random price just to close the deal with the client.
A translation buyer, who is planning to cut costs (wherever possible), will tend to be attracted towards a price that is easy on his pocket (neglecting the fact that the price might cost huge in the future). This is the very fact that these vendors take advantage of.
Beware Of Translation Industry Pickpockets
Translation companies that quote an unfairly less price to the clients are no less than pickpockets in the industry. They steal the profit margin from the market, thereby turning the earnings of a business owner ZERO.
Why does a business exist in a market? It exists to collect professional resources and offer you quality services, meanwhile earning a decent margin, so as to continue the good work. But what if this marginal amount ceases to exist? The business owners will no longer be able to serve you with “quality” services – what will they earn and what will they pay to their hardworking translators. Makes no sense for both clients and translation business owners.
Hence, if you are a translation buyer, be aware of these pickpockets, as they simply try to befool you with a tag of ‘quality translation at low rates’.
As per reports, the global translation industry is valued at $47 billion. However, we, the translation business owners are unable to earn even 1% of this worldwide value. Thanks to these pickpocketing vendors, who don’t care about the quality.
You Are Actually Falling In Their Trap
Being a project manager, I did thorough market research to understand how some companies manage to offer the lowest bid to the clients, and what I found was truly shocking.
Here are some of the major highlights from my research –
☞ These vendors work on a pre-determined psychology of just acquiring the client, no matter what his/her budget or requirements are.
☞ They do not work with native professional translators, rather with them who just have a basic knowledge of the language.
☞ They do not edit or proofread the translated content
☞ Use machine translation
☞ Since the translation provided is not certified or notarized, they do not take any responsibility for the quality issues in the output.
Hence, out-n-out you are outsourcing translation that is definitely light on your pocket, but is useless for effective communication across geographical borders. It can even turn up as your biggest nightmare, in extreme situations.
So, you need to understand the difference between a professional translation company and a pickpocketing translation company.
A genuine translation rate is inclusive of the native expertise of translators, their experience level, qualifications, editing, proofreading, quality control procedures, desktop publishing, human translation efforts and more.
When you choose the lowest bidder, you straightaway neglect the cost related to all the above mentioned factors.
Hence, the cost quoted to you is simply the cost of converting words from one language to another and that too from someone who does not hold the responsibility for quality and is not even experienced enough for the project. This clearly implies that entering into a deal with a vendor, who is offering the lowest rate (in comparison to others in the market) is worthless and complete waste of money.
Time To Pay A Genuine Translation Rate – Not Higher, Not Lower
Its okay to make mistakes, but it is wiser to learn from your mistakes. Hence, if you are someone looking for reliable translation solutions, you must be prepared to pay a feasible, fair and genuine translation rate.
At TridIndia, we do not believe in quoting the lowest bid. We only and strictly believe in quality. This is why we quote a feasible amount that is workable for both the client and our team. We assure 99.99% accuracy in our work and 100% timely delivery assurance. Also, we take complete responsibility for the quality, as our translation projects are handled by professional native translators, specialized in their respective domains.
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