LARGE FORTUNE 100 COMPANY IT CONFERENCE

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We had the privilege of working with a very large IT US based company last fall. They sponsor one of the largest, if not the largest, IT world conference each year. Through their public relations partner they needed a translation partner that could translate their press releases into Spanish on the same day they were released in English. We had our team ready to go, and on the first day they sent us 11 press releases that had approximately 16,000 words. In the translation business we invoice our work by the word count, and a professional translator can translate on average around 2,000 words per day properly, then you need time for an editor, and a final proofreader, so needless to say, it was a very challenging project, but one we were happy to take on.

That project reiterated for us how important it is for you the client, and us the translation partner, to meet before it starts and agree on specific guidelines to be followed, especially when it involves a high volume of content to be translated in a very short time, since, once it starts, there’s no time to make adjustments and/or to meet to discuss style. If you are ever in a similar situation, I’d like to share a list of “to-do’s” and “not to-do’s” with you so you can make sure you have a very successful event:

  1. Agree on the style you will be using, for instance, in Spanish you can write in a “formal” tense which addresses everyone as “usted” which is the formal version of “you,” and an “informal” tense which is “tu.” English does not differentiate, but Spanish does. Traditionally in Spanish, the “formal” version is used, BUT, today, with the influence that all things “American” have on the rest of the world, the “informal” tense has become ubiquitous. So, make sure you agree on which form you will use from the start.

  2. Do you want to use an “Americanized” style or traditional Latin style in your choice of words for Spanish or any other language? Do you want to say “Smart Phone” or “Telefono Inteligente” for instance? Or in the case of the “cloud,” do you use the translation, or do you use the word “cloud” in English? Most countries these days have gotten used to using terms in English, so a lot of people recognize them, but the risk is that not everyone will, so when you decide to use the English name or terms, you are taking a chance that some of your audience won’t know what you are saying.

  3. Should you capitalize titles? In English we capitalize every word in a title, in Spanish for instance, only the first word. You must decide if you want to go outside the traditional and correct form in Spanish and follow the American style of capitalizing each word. Some traditionalists won’t like that, most people will probably not notice the difference.

  4. Bilingual staff: our biggest challenge always as a translation company, will you ask your bilingual staff to edit the translations? After 25 years in the business, when a client has a bilingual person on staff that is asked to review a translation, in the best case scenario, most of the changes are stylistic (not necessary unless you are an advertising company and have a creative bilingual person with suggestions that are closer to your brand style), and worst case scenario (and most common), many are grammatically incorrect.

  5. Too many cooks in the kitchen. Another challenge related to the one above, is having not just one bilingual person on staff that edits the translation, but 2,3, 4 or even 5 people. This causes confusion for everyone, especially when you are working on a time sensitive project that must be launched publicly the same day. Consistency in style and terminology are very important when you have a big project. When you have several people reviewing different parts of a project and making their own changes, this creates a lot of room for errors, and consequently, it affects how the target market (those reading your materials in the translated language) perceive your company. If there are grammatical errors, and/or inconsistency in the use of the translated terminology, your company will come across as amateur and unprofessional. Tip: if you are going to have your staff edit the translations, pick one person only so at least if there are errors, they are consistent.

In the end, the most important thing you can do to have a successful event that reaches many people in other countries and languages, is to find a translation partner that you trust, and trust them to do a good job for you. Let them do what they know best: translate.

Should You Ask Your Wife To Translate Your Legal Documents at Work?

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After 25 years in the translation business my biggest challenge has been to educate clients about why they should hire a professional translator (preferably an agency), instead of taking the easy, but eventually costly and embarrassing, way out and using Google Translate, or asking their spouse or relative to translate for them.

So what are your options?

1.       Do Nothing: In today’s global business environment, this is just not an option anymore. At best you will definitely miss out on business opportunities, and at worst, you can be held legally or criminally liable. Example: if you own a factory, and one of your employees loses an arm because he did not know how to properly shut off a dangerous machine when it malfunctioned, and the only instructional manual was not in his native language, you will be liable.

 2.       Google Translate: I know, such a tempting an easy option, and I agree, many times that’s all you need to communicate with a buddy in Germany, or to try to figure out what a word means. Even though “machine translation” has come a long way, and one day it will probably replace human translators, we are not there yet. Example: Google Translate doesn’t know if you are referring to a “bank” where you put your money, or a park “bench” when you type the word “banco” in Spanish to translate it into English. If you are lucky, it will know based on the context of the whole paragraph, but it doesn’t always get it right.

 3.       Bilingual Staff or Relative: Like with any industry, those who are in it tend to be those who understand the importance of expertise better than anyone. Would you ask a person from Russia to teach a course in Russian history at the university just because he is Russian and has lived there all his life? Probably not. The same applies to your translations. Just because someone is bilingual doesn’t mean they know how to translate a written document properly. Sure, you can ask your relatives to interpret (verbally) what someone is saying in a casual conversation, but that is far different from actually transferring a written document from one language into another correctly. Case in point: when I worked at the Los Angeles Unified School District’s Translation/Interpretation Unit in the 90’s, most of our interpreters (verbal) who took the test to be translators (written) failed. They were great at interpreting verbally, but could not get the context right when translating, and/or their grammatical skills were never up to par.

 4.       Freelance Translator: This is a translator that works independently, on his own, not through an agency. Some are excellent, in fact, many actually work for an agency too, but the problem you will run into is the fact that they mostly work alone. They don’t have a strict quality control process that consists of 3 different professionals touching your important documents: translator, editor, and final proofreader. A good agency does, and no matter how good a translator is, he or she can and will make mistakes, mistakes that can only be caught if you have a separate editor review their work.

I always say that I don’t envy an HR manager that has to find a good translation partner to translate his or her employee handbook into Spanish for instance. If he is not bilingual, how will he ever really know if the quality is excellent? He won’t, and he will just pray that he picked the right partner, and that no one will come back to him months, or years later, to complain about a poor translation.

We would love it if you chose us as your translation partner, but whether it’s us or someone else, we encourage you to work with a professional agency when you need anything that is business related translated into another language. You can check their website for testimonials or reviews from happy clients, and even ask them for a reference. A good partner will have one AND share it with you.

Pamela Godoy Fiume

We’re here to help!

Social Media When Globalizing

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Social media is a useful tool to help your brand get noticed around the world. This makes it an exciting tool for anyone trying to do business in another country. In this post, we list a few tips to help you take full advantage of your social media campaign.

Carmen Urbano, is a known expert on international online strategies. She warned us about the biggest mistakes that are frequently repeated during a global launching process and the use of the 2.0 platforms.

Mistakes:

-          Treating a new foreign market the same way you would treat your local one.

-          Using social media as an end without a base strategy. Looking for the “most popular social network” in a general manner without taking into account your brand or consumer patterns.

-          Not having the appropriate digital databases that are well categorized (segmented).

-          Using English as a universal language, or translating your platforms in a “literal” manner (word for word, instead of in context, example: by using Google Translate).

-          Not taking advantage of the international networking that is being developed in some networks. They are not just for selling. You must take advantage of the multiple tools that these virtual networks have available.

“The social media platforms have an immense database that helps you segment your target audience. Social CRM (Customer Relationship Management), social competitive intelligence, social branding, and international networking, among others, are disciplines we must consider in order to define our strategies when investing abroad. Companies and brands need the commitment of online communities, the well-known engagement. And by all accounts, there are no self-respecting SEO (Search Engine Optimization) strategies without an SMO (Social Media Optimization), or a good complement with the social web.

So, where do you start?

The first thing you must do is answer the following question: Who am I speaking to?

A vital part of getting to know your target audience is to understand their motivations and concerns, which is an excellent guide to help you position your brand in the new market.

Once you have identified the market, you will know what the most appropriate media is to get closer to your meta-audience, and to speak to them in their language with the accurate communication codes that will achieve the long-awaited engagement you’ve been seeking.

Secondly, get to know your competition well: their strengths and weaknesses, and the reasons why people prefer or reject them. In digital terms, evaluate their presence in the different platforms. Analyze their digital strategy, in which platforms are they present, how they do it, what they talk about; analyze their metrics. Evaluating the category, particularly in a new market, can help you understand the behavior, and trace a clear map of what works and what doesn’t.

Lastly, build your digital strategy on the premise that observing your performance is vital, where you are open to letting the results give you a clear guide as to whether you’re on the right track, or not.

Considerations when creating a social media profile:

-          Online competition is not the same as competition in the offline world. Key points: competitive intelligence and market intelligence, behavior patterns, brand positioning and above all, adaptation. One must complement the online and offline to define a communication strategy.

-          Every market is a world of its own. Every country plays by their own rules regarding the networks that are used most, the types of user profiles, and trends. Frequently, with international strategies, companies rely on area-based, corporate and specific networks to globalize, that provide a professional point of view, and an opportunity to gather knowledge and contacts in each target market.

-          It’s not enough to have your website translated into the most spoken languages: you must create specific messages for each audience. Pay attention to the large brands: they have a different profile for each country their brand reaches.

You have the keys: now being able to implement them will be easier with allies. That’s where we come in. We help you adapt your strategies in different languages for your target audience with the appropriate messages. Don’t waste the multiple tools that the 2.0 world has to offer. Don’t limit your brand’s reach. To adapt is to succeed. Here’s the link to your first ally in this process: https://welanguages.com/what-we-do/

INTERNATIONAL BUSINESS ARBITRATION

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Be careful when handling international business deals!

Alfredo Zuloaga is a lawyer who specializes in international business law and business arbitration matters. He is a member of the Spanish Arbitration Club (CEA for its acronym in Spanish), and is an arbitrator at the Arbitration Center of the Chamber of Commerce in Caracas, Venezuela. He spoke to us about this subject in a special interview for weLanguages.

When one is doing business and signing an agreement or a contract with a company abroad, it is very important to determine the jurisdiction (or country) where the contract will be enforced, so that in case of any disputes, the contract has an arbitration clause that indicates that the dispute would be resolved in an independent jurisdiction, which is different from the jurisdiction of the respective civil courts.

An international business arbitration is the mechanism most commonly used to resolve private disputes regarding business matters due to its broad scope, its flexibility, and promptness in resolving disputes. It is a matter of particular interest for business people: it creates more confidence in the markets, and it provides greater certainty in the legal frameworks and judicial systems regarding the standards that regulate international business arbitration.

Several countries in the Americas have moved forward consolidating attractive investment environments and international commerce by revising their arbitration laws.

-          Is arbitration optional?

AZ: Yes, it is. International business arbitration as an alternative to an ordinary judicial process is voluntarily chosen by the parties (companies with a contractual agreement), and must therefore be expressly established in the respective contract (arbitration clause) or be subsequently agreed upon when a business  dispute arises.

For those cases where the contract does not contain an arbitration clause, if a conflict or controversy arises, it is still possible to resolve it. In this case, both parties must come to an agreement and establish an arbitration agreement “a posteriori.” It can also be done without before any disputes arise: when the parties want to “ex-post” the original contract.

There are several entities that carry out arbitration processes, including: the United Nations Commission on International Trade Law, the Inter-American Commercial Arbitration Commission, the International Chamber of Commerce (ICC) https://iccwbo.org/about-us/who-we-are/dispute-resolution/ , International Investment Dispute Settlement Institution (ICSID), and the London Court of International Arbitration (LCIA). However, Zuloaga explains that “the parties that uphold an international business contract can decide to be ruled by an institutional international arbitration even though the countries where they come from are not signatories.”

-          The arbitration process begins once the negotiationphase between the parties has failed.

-          The arbitration process carried out by the International Chamber of Commerce (ICC) has several phases.

-          The arbitrators are chosen by the parties at the time of a controversy and the Court President is chosen by mutual agreement between them.

-          After paying for the cost: the Court arbitrator receives the file and the arbitration proceedings process begins by a “Missions Act;” a document where the task is defined and which must be signed by the parties and submitted to the arbitration Court within a two-month period. Likewise, it defines for the Court, the interim calendar it intends to follow.

-          How are the costs established?

AZ: “It will depend on the institutional structure and the fees of the chosen arbitrators. Generally, these costs and fees will have a percentage relationship with the amount or estimate of the arbitration lawsuit and are included in the Guidelines of the different arbitration institutions in order to have an approximate cost for a specific arbitration process. The cost will be shared equally among the parties in conflict.”

Since an international business arbitration deals with controversies among parties domiciled, or with residence in different countries, the language chosen and the translation of legal documents that will be presented during the arbitration process, are very important for the parties. Therefore, choosing translation professionals or companies with specific knowledge of legal matters and arbitration processes is a very important step for the work of attorneys and firms dedicated to this specialty, as well as for transnational companies. At weLanguages we have vast experience with legal translations: therefore,  we consider ourselves your ally in these processes.

TOP 10 COUNTRIES FOR DOING BUSINESS

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The best country for your company to do business in or to turn your brand into a Global Brand will depend on your company’s characteristics, such as mission, and vision, and obviously on how they fit in the new market and vice-versa: LINK TO GLOBAL BRANDS ARTICLE.However, there are MACRO business indicators that serve as a reference to help make choices and which should always be considered.

 

The Forbes List Best Countries for Business stands among these Macro Indicators. It involves 153 nations, ranked in order, wherein 15 different factors are evaluated, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade, and monetary), red tape, and investor protection. There were also new metrics added: labor, infrastructure, market size, living standards, and political risk, to provide better indicators for determining if a country is appealing for capital investment. Data is based on reports published by Freedom House, Heritage Foundation, Property Rights Alliance, United Nations, Transparency International, the World Bank Group, Aon, Marsh & McLennan, and the World Economic Forum.

 

We share here the top 10 and some of the main comments. We also drew some excerpts of reforms implemented by some nations in order to improve and facilitate negotiations in their territory.

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The full list can be viewed here: https://www.forbes.com/best-countries-for-business/list/

These are the most biggest economies based on data from The International Monetary Fund, 2018

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Brazil

Trading across borders

Brazil reduced the time for document compliance for both exporting and importing by improving its electronic data exchange system. This reform applies to both Rio de Janeiro and São Paulo.

China

Starting up a business: China made starting up a business easier by streamlining registration procedures. This reform applies to both Beijing and Shanghai.

Paying taxes: China made paying taxes easier by introducing several measures to ease compliance. This reform applies to both Beijing and Shanghai.

India

Starting up a business: India made starting up a business faster by merging the applications for the Permanent Account Number (PAN) and the Tax Account Number (TAN) and by improving the online application system. This reform applies to both Delhi and Mumbai. Mumbai also made starting up a business faster by merging the applications for value-added tax and the Profession Tax (PT).

Dealing with construction permits: India reduced the number of procedures and time required to obtain a building permit by implementing an online system that has streamlined the process at the Municipality of New Delhi and the Municipality of Greater Mumbai.

Getting credit: India strengthened access to credit by amending the rules on priority of secured creditors outside reorganization proceedings and by passing a new law on insolvency that provides a time limit and clears grounds for relief to the automatic stay for secured creditors during reorganization proceedings. This reform applies to both Delhi and Mumbai.

Protecting minority investors: India strengthened minority investor protection by improving guarantees in cases of detrimental transactions between interested parties. This reform applies to both Delhi and Mumbai.

Paying taxes: India made paying taxes easier by requiring that payments be made electronically to the Employees Provident Fund and introducing a set of administrative measures easing compliance with corporate income tax. This reform applies to both Delhi and Mumbai.

Trading across borders: India reduced import border compliance time in Mumbai by improving infrastructure at the Nhava Sheva Port. Export and import border compliance costs were also reduced in both Delhi and Mumbai by eliminating merchant overtime fees and through the increased use of electronic and mobile platforms.

Enforcing contracts: India made enforcing contracts easier by introducing the National Judicial Data Grid, which makes it possible to generate case management reports on local courts. This reform applies to both Delhi and Mumbai.

Resolving insolvency: India made resolving insolvency easier by adopting a new insolvency and bankruptcy code that introduced a reorganization procedure for corporate debtors and facilitated a continuation of debtors’ business during insolvency proceedings. This reform applies to both Delhi and Mumbai.

Italy

Getting electricity: Italy made obtaining electricity easier by streamlining the application process and reducing external works and meter installation times.

Paying taxes: Italy made paying taxes less costly by temporarily exempting employers from social security contributions. Italy also made paying taxes easier by abolishing the Comunicazionedati IVA (value added tax communication form).

 

Japan

Paying taxes: Japan made paying taxes less costly by reducing the legal rate for corporate income tax and rates for other taxes including mandatory work contributions. This reform applies to both Osaka and Tokyo.

Panama

Resolving insolvency: Panama made resolving insolvency easier by adopting a new insolvency and bankruptcy law that introduced a reorganization procedure for corporate debtors and facilitated a continuation of debtors’ business during insolvency proceedings. The new law also allows creditors a greater participation in important decisions during insolvency proceedings and regulates insolvency practitioners.

Philippines

Getting electricity: The Philippines reduced the time to get an electricity connection by implementing a new asset management system and by creating a new scheduling and planning office.

Paying taxes:  The Philippines made paying taxes easier by introducing a new electronic system for payment and collection of housing development fund contributions.

Taiwan, China

Trading across borders: Taiwan, China, made exporting easier by allowing different organizations to electronically issue certificates of origin.

Enforcing contracts: Taiwan, China made enforcing contracts easier by introducing an electronic filing system.

Labor market regulation: Taiwan, China, adopted legislation that increased the number of mandatory paid annual leave of absence days and the number of weekly days off.

 

PLEASE NOTE: The second largest economy in the world (China) and the third (Japan) are 66 and 21 on the list of top countries for doing business, respectively. China is restrained because of the lack of trade and currency freedom. Japan has cut down on the corporate tax rate by 8 percentage points since 2012, but its taxes are still lower than the majority of developed countries, according to the World Bank. Japan stands among the top 10 most advanced nations in innovation and infrastructure (a pro).

Other general notes indicate that the United States, China, and India remain FDI prime potential destinations. Developing Asian countries are still dependable as it relates to their economic performance. Also, an investment increase is foreseen in Southeast Asia, i.e. Indonesia, Thailand, Philippines, Vietnam, Singapore. In the aforementioned order, they have improved their ranking to most promising receiving countries. 

On the other hand, Ireland (#1 in 2017) has drawn in some of the world’s largest companies. Tax rates, investor protection, and personal freedom have been reduced to almost a minimum. Melanie Bowler, a Moody Analytics economist, confirms that its educated workforce and a 12.5% corporate tax rate, are one of the lowest in Europe. That is why it is very attractive for entrepreneurs, as well as for the language. "If you are looking to do business in Europe, you would want to share a common language," she says. Dublin is the European headquarters for high-end US technology, including Google, LinkedIn, Twitter, and Facebook. 

 

The numbers support international negotiations: global economic trends and a technology boom are increasingly linked together. More options open up every day and processes are digitalized, making internalization processes more accessible for companies. And among our goals is to be your ally in helping you "understand" a "global" world without borders. Translation services are becoming more and more important: much experience is required because it’s not only about translating, but more about guiding the customer towards understanding others. Are you on board? Would you like us to accompany you in an internationalization process? How well prepared is your company?

Take Notice: before “Globalizing” your brand

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In a previous installment, we talked about globalizing your brand and its advantages: "a world of opportunities." In this post, we list a number of considerations to be taken into account before opening up to international markets:  

 -       IN ORDER TO GO "ABROAD," FIRST YOU HAVE TO BE WELL ESTABLISHED AT HOME.

You need to have a clear business philosophy: Vision - Mission - Ethics, based on a solid strategy. This involves understanding the brand and knowing the answer to these questions: What are you selling?  Beyond the product itself, the point lies in the concept and the consumer’s experience. How do you sell it? Not only are your communication means important, but also the message you are delivering and how it is delivered, in addition to attributes that make you stand out over your local competitors, i.e. the classic SWOT analysis (Strengths, Weaknesses, Opportunities, Threats).

PLEASE NOTE: After this process has taken place locally in your “home” base, it must be repeated by adapting it to the new target market. PRODUCTS THAT ARE SOLD AT HOME ARE NOT ALWAYS SOLD ABROAD. It is important to give it a global rollover. And here is where a very important step takes place: considering the LANGUAGE. This is why you’ve found this post on our website. Because at weLanguages we understand that the key to a globalization strategy is to speak to the consumer in their own language. At the same time, markets are globalized and personalized. This phenomenon is achieved through new technologies. This is not about automatically going from one language to the other: Being familiar with the distinctive cultural features behind each language is a must.

  1. Explain the reasons WHY you are entering an international market, and turn them into medium to long-term goals.

2.Take into account: macroeconomic variables, legal and judicial frameworks, and how they allow foreign investment in the new market.

Regarding studies on these variables, we have developed several baseline posts, where we constantly refer to the World Bank guide on Doing Business. 

In addition, we have vast experience in translating legal documents and contracts. We are certified and will save you money with our speedy and reliable process. Mistakes in legal translations can result in costly consequences.

 -       Run a detailed target-market study for the market you want to enter: consumer habits, media, trends, etc. Currently, there are many technological tools available that can help in case you do not have the resources to carry out your own market survey. Social networks are also a great database.  

-       Take into account market introduction costs and the advantages of the digital communication age.

 -       Take into account product distribution (logistics), production needed to meet the demand, and the possibility that more staff may be required. Be prepared to offer customers a full service up to the post-sale: every detail must be taken care of, since the point is for customers to be satisfied so they return and refer.

 Regarding these considerations, we are also sharing 5 QUESTIONS BEFORE EMBARKING ON AN INTERNATIONALIZATION PROCESS, posed by Carlos Jimenez, an expert in market research studies.

 1.    What is the competitive advantage of the company? 

 What makes you win customers over? Is it your prices or how you sell your product? Or is it the quality? I suggest using Michael Porter’s competitive strategy viewpoint: differentiation, leadership on costs or on high segmentation.  

 2.    How can competitive advantage be taken out of context and applied towardsforeign markets?

 This question leads to the decision of which market(s) to address: a single market or multiple markets? I recommend starting out by gaining experience with a single market.

3.    Does my company really know those markets?

 4.How much is the company willing to invest in such a process?

It may be that the company is not well known in those destination markets, that is why it is important to invest in marketing and advertisement, including social media. Then, defining the financial plan for the company regarding this process is key: private funds, debt, partnership with third parties, etc.

 5.    Should I collaborate with local entrepreneurs?

 Which internationalization model should the company adopt? Should exports be done through a target-market distributor? Or should a branch be set up with a local partner? The company’s best interests and needs will lead to the right answer.