A Translation Management System (TMS) can provide you with immediate information on your business. More sophisticated TMS tools even provide a range of required reports.
Many translation agencies nowadays face the necessity of translating smaller and smaller amounts of text, submitted regularly by their (often strategic) clients.
Over 80% of translation agencies are struggling to keep project margins. They serve more small projects, more language combinations, different file formats while keeping even tighter deadlines with a lower budget per unit.
It is with great pleasure that we publish a guest article in our blog, written by Seo‑Young Jun – M.A. Candidate in Translation and Interpretation (KOR-ENG) with Localization Specialization at the Middlebury Institute of International Studies in Monterey. Soe‑Young has been getting to know XTRF at her university which is taking part in the Academic Programme by XTRF. Enjoy the blog!
As a rule, translation agencies are started by professional translators, not professional managers. In fact, less than 10% are established by business people. The majority of them developed from one-person ”agencies” which were launched, managed and grown by translators.
When I meet translation company owners I often hear them say, ”We are a small translation company”. There are so many of them who have great potential, are great leaders and have great teams. But still, they decide to stay small.