Business Translation Services
International companies are a worldwide reality and multilingual teams are becoming increasingly prevalent in today’s globalized world. Although going global means more opportunities for growth and expanding the specialized staff pool, it also comes with its challenges. Translating your business documentation is one of them.
In this article, we’ll explain what business documents are and when you might require business translation services. We’ll also cover the different types of business documents that are often translated, as well as the cost. Finally, we’ll explain the benefits of using business translation services.
What are business documents?
Business documents are any paper, file, or record related to a company’s activity. We’ll cover the different types of business documents below, but they can include anything from tax returns and balance sheets to employment agreements and meeting minutes.
When do you need business translation services?
If you work in a company with a presence in countries with different official languages or employees who speak different languages, you will need business translation services.
The types of documents you need translated may vary, but you will need translation to establish and run your business. You will also need to use translation services to communicate with employees and ensure they know their roles and responsibilities within the company.
Common business documents that are translated
Business documents come in all shapes and sizes. This means they fall under different categories and fields of specialization. Below, we’ll cover the ones that most commonly require business translation services.
As you know, financial documents are prevalent in any company or business. Multinational companies often need to translate financial documents for reporting purposes. This allows stakeholders who do not speak the language to keep updated with the company’s financial records. These documents may also be needed when establishing your business in a new country or for tax purposes.
Here are some of the financial documents that can require translation:
- Balance sheets
- Tax returns
- Bank statements
- Cash flow statements
- Income statements
- Compliance reports
- Tender letters
- Loan agreements
You can find more information on the translation of financial documents in this article.
Employee handbooks contain company guidelines and often include information on workplace conduct, attendance, health and safety procedures, pay and benefits, and sexual harassment policies, among many other topics.
As linguistically diverse teams become increasingly common, companies may be based in a country where different languages are spoken or have branches in several countries.
Translating your employee manual helps employees whose native languages are not English have access to the information they need to do their job correctly. Not to mention succeed in the workplace. Access to the employee handbook in their native language is also a way for employees to know their rights and responsibilities.
Beyond employee handbooks, any type of communication (such as emails or memos) sent to an employee or branch that doesn’t share the same language should be translated.
Translating business communications ensures everyone in the company has access to relevant information. It also helps create an inclusive workplace. Translating company documentation so it is accessible to all shows your staff you are committed to engaging with them and looking after their best interests. All of this helps your human resources team do their job better.
If employees cannot attend a meeting due to either time constraints or language barriers, translating the minutes is an excellent way to make that information available. Again, translation in a multilingual company makes information accessible to all.
Any contracts (whether for employees or contractors) not written in the parties' native languages should be translated to ensure understanding. This is even a legal requirement in some countries or states.
Moreover, contracts may also require certified or notarized translations. We’ll explain what these are below.
A certified translation is a literal (i.e., word-for-word) translation of all visible text in a document, usually intended for official uses. This certification is issued to verify that the translation is complete and accurate.
A notarized translation is a certified translation that includes one extra step to ensure its validity: it is signed and sealed by a Notary Public. The Notary’s signature and stamp are only used to confirm the identity of the person whose signature has certified the translation.
Filing patents ensures the protection of your intellectual property (IP). However, patents are territorial rights that are only applicable in the country they were filed. Moreover, patents are written in a specific style and different countries have varying requirements regarding formatting and even vocabulary for their patents.
Companies will need patent translation services anytime they wish to submit a patent written in a foreign language. This includes patents to be filed in the United States that are not in English and US patents to be submitted in a foreign non-English speaking country.
You can learn more about patent translation in this article.
Articles of association
If you want to register your company in another country with a different official language, you will probably need to have your articles of association translated. In fact, a lot of business documents require translation for paperwork purposes.
If your business functions in different countries, you should also have your website translated. Although this falls into a more specialized field called “localization,” it is still an important business aspect that is worth mentioning.
You can learn more about website localization here.
How much do business translation services cost?
Translation rates depend on various factors but are usually priced per word or page. When priced per word, the cost of your business translation will depend on the number of words on the original text or document in question. When charged per page, the price will be calculated according to the number of pages.
The price per word ranges from $0.08 to $0.50. The industry typically defines one "page" as 250 words and the cost per page usually ranges between $20 and $130.
Other factors that affect translation costs are the language combination, the subject matter, special requirements (such as certified or notarized translations), and visual assets (such as images or graphics).
RushTranslate offers certified translations issued by a professional in over 60 languages for just $24.95 per page with 24-hour delivery.
Why should you use business translation services?
Turning to a freelance translator might be convenient if you have just one or two documents to translate occasionally. However, as your business grows, you might consider comprehensive business translation services. Here are four reasons why.
1. It’s a one-stop-shop
A business translation service provider will have a team that specializes in all of the fields we saw above at your disposal. They will be able to deal with legal documents, patents, financial documents, marketing materials, and even your website. They will also have the knowledge to ensure the translations are suitable for your target audience or market.
2. Save time and money
Having a team at your disposal means that documents can be translated quickly. It will also save you money in the long term as you don’t have to risk retranslating or wasting time finding translators that specialize in your field.
3. Reach new markets
Business translation services can make a difference for a company trying to break into a new market. Specialized translation providers will ensure your documents are translated properly and meet all requirements and expectations in that country or region.
4. Avoid legal issues
Companies that provide business translation services will be well-acquainted with the rules and requirements of the country where you will be submitting the translation. This can help you avoid potential problems that could lead to a more significant investment of both your time and money.
Business translation services are an excellent tool for multinational or multilingual businesses. They help companies get established in new markets and ensure efficient communication between workers who speak different languages.
We hope this article has given you an idea of what business translation services entail and how useful they can be.
Updated August 31, 2023 in Translation