It’s hard to imagine a translation agency nowadays that doesn’t use at least one CAT tool. It goes without saying how they help businesses reduce costs or improve the quality and consistency of translated text.
When XTRF was still in its infancy, “we knew better” what needed to be done. It’s an attitude shared by almost any startup company.
The release of XTRF 7 is just around the corner, and it brings many improvements, big and small.
Many translation agencies nowadays face the necessity of translating smaller and smaller amounts of text, submitted regularly by their (often strategic) clients.
You might want to track your in-house vendors' entire work day. Fair enough. But you won't put every day "in-between-work" activities as your project cost. Have your team register the time they actually spent working to see the real cost of their efforts per assignment...
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.
A typical translation project has changed over the years. Now, it is usually small, rushed, cheap, has little context and needs many language combinations. But it still requires the same amount of administrative work as in the past. It will not be profitable unless you adapt your project management to this new reality. Luckily, there is a lot you can do.