Multilingualism is a fact
With globalization, most companies are facing this huge multilingual market.
Since the dawn of time, man has been confronted with multilingualism - See the story of the Tower of Babel as an early example of this concern.
Despite numerous studies, the origin of languages remains an enigma. Despite various attempts by some to propose or impose a single language, multilingualism is today a reality that international authorities have integrated; each organization lists the number of languages it recognizes.
European Union goes further: the multilingualism is one of its founding principles. This policy aims at
communicating with its citizens in their own languages
protecting Europe’s rich linguistic diversity
promoting language learning in Europe
Multilingual reporting is an opportunity
Each company seeks to differentiate itself from its competitors by increasing the client experience.
Rosetta stone, dating from the 2nd century BC, is one of the first known multilingual (Egyptian/Greek) reporting. The pharaohs had understood the importance of using the language of his audience to be well understood.
Today with globalization and increased trade, the same concern of multilingualism persists.
Of course, it is not necessary to translate the reports into the 7000 languages listed in the world. The selection of languages must be made in relation to the target market. However, keeping in mind that using the client's language:
reduces the perceived distance between the customer and the service;
conveys a sense of transparency that strengthens the relationship of trust with the client;
increases the customer experience by providing for him more accurate and comprehensive understanding of the information
is an opportunity to differentiate itself from its competitors
Machine translator is a reliable partner
Artificial intelligence applied to translation significantly improves translation quality.
Multilingualism has always been an important source of cost for organizations and companies. Very quickly, the desire to automate this part of the work by machines emerged. Unfortunately, the first machines translator based on syntactic analysis of the sentence (dictionary and grammatical rules) were not satisfactory; thorough review was necessary.
The application of models of artificial intelligence to text translation, a technique called Neural Machine Translation (NML), has significantly improved the quality of rendering. The software no longer has any syntactic knowledge. Based on a database of bilingual texts, the machine translator will map the words, determine the occurrences between them and train himself to provide the translation of a sentence most frequently observed. In this case, the quality of the software is no longer dependent on the coding quality but on the quality of the reference database. Therefore, in addition to leaders in general translation, there are companies that specialize in the translation of financial reports.
Leaders in Generalist Translation (NML):
Financial Translation (NML):
Translate is not enough
Translating a reporting is not managing multilingual reporting.
Automating the translation of texts is, of course, important to manage multilingual report, but it is not enough.
Firstly, the translator is not in charge of the layout; Since the length of a word is different according to the language, the size of the columns of a table or the space for a text must be adapted to keep a readable chart or report.
Then the translator is not able to condition his translation according to the language. In the various management or market analysis comments, it may be appropriate to condition the presence of certain paragraphs according to the language or the report. It may also be useful to change the information according to language - for example, the contacts.
Combining the translation tool of your choice with an AMINDIS solution allows to industrialize multilingual reporting.
AMINDIS offers a solution to industrialize multilingual reporting production by integrating the translation tool of your choice into its workflow.
On the one hand, the translation tool of your choice translates all management or market analysis comments. On the other hand, the AMINDIS solution is in charge:
the translation of tables and graphs;
the displaying or not of the comments;
all steps of reporting production (from integration of input data to distribution of reporting through the calculation of all performance, risk and ESG measures);
SLA compliance through an error-based process;
the distribution of reports (sending by email, online,...)
View our webinar on 5th of December
or ask us a demo.