What makes a great financial translation?
Well, first of all, as for any specialised area, it requires a great degree of understanding. Translators who actually understand the concepts are going to be able to translate much more accurately than those that don’t.
Within the world of finance there are many complex terms and concepts. On the asset management side, if you are looking for accurate translations, then it is important that the translation company with which you are working is able to deal effectively with the content. Do they know their calls from their puts, their gilts from their T-bills or the difference between simple and compound interest? When the translation team understands such concepts, and is able to combine their financial knowledge with their linguistic expertise, then you are on the road to having a great financial translation.
There is also a great deal of technical knowledge required when it comes to translating financial statements or accounts. And this is not just about getting the language right, but about representing the numbers accurately as well. It’s no good having a perfect translation in terms of literary fluency, if the translator has not taken the required care to transcribe or transfer the numbers in the correct manner. What if assets of USD $1,000,000 become assets of $100,000 in the translated document? This is potentially disastrous situation that could result in all kinds of problems. Also, what if the correct conventions are not used? In the UK, we use commas to separate thousands like this: 1,000,000 whereas in other countries a decimal point is used as follows: 1.000.000. Simple details, obvious to many, but important to get them right.
Using a competent translation company will help you to overcome such hurdles with ease and put you in the position of not having to worry about the translation – you will be able to focus on your core business instead, on the activities that generate revenue for your company or organisation and that is what many clients are looking for. They are certainly trying to avoid the gigantic headaches associated with the incorrect translation of documents and trying to re-work them so that they are acceptable. Who wants to be explaining to their boss that they hired a translation company that simply wasn’t up to the job?
At 100 Percent Languages we are experts in financial translation. Our CEO, Paul Urwin, enjoyed a successful career in the City of London (working as a Fund Manager and Sales Manager for companies such as Barclays Global Investors and Schroders) before starting the company, and so we are well-placed to deliver very high-quality translations of technical financial documents. We also have significant experience in translating sales and marketing material so that you can successfully transfer your message to other languages and increase sales in new markets. This often involves more than a literal translation as it is important that the final documents do not read as if they have been translated. You might know the feeling – you sometimes read through a document and it just doesn’t sound quite right. Well, sometimes those documents don’t sound right because they have been (poorly) translated and so the final text is a “way-too-literal” translation of the original.
We pride ourselves on understanding each client’s specific needs and we take great care in understanding the niche or sector in which you operate, your target market and the tone of message you wish to deliver (sometimes a formal tone is required, for other documents or materials a friendly or informal style might be more appropriate). So, the next time you are looking for a team of expert financial translators with a focus on your specific needs as a client, look no further, we are here to help!