DIGITAL TRANSFORMATION AND MULTI-LANGUAGE DEVELOPMENT

Digital transformation

NO MARKET SECTOR CAN ESCAPE DIGITALIZATION, that is why so much emphasis is made on the topic. In all areas, and regardless of the size of the business, digital transformation is "mandatory" for survival. And the subject is of such importance that the World Bank devoted an entire study to this process, calling it “one of the main challenges for global economy leaders." The digital economy has a great impact on investment patterns worldwide. It is radically changing the way businesses manufacture and sell their products and services across borders. Digital multinational enterprises are able to communicate with their clients abroad and sell them their products and services without having to make too many physical investments in foreign markets.Therefore, their economic impact in recipient countries is more intangible and less visible when it comes to creating productive capacity and job opportunities.  Currently, the digital economy is no longer limited to the technology sector and digital companies, but rather supply chains are increasingly undergoing a digital transformationacross all sectors in the global economy."

Mukhisa Kituyi, the General Secretary of UNCTAD, described it as follows:

The weight of information and communication technology (ICT) multinational enterprises in international production has increased dramatically in the last five years. Between 2010 and 2015, the number of tech companies in UNCTAD’s ranking of the top 100 multinational enterprises more than doubled. The assets of these multinational enterprises increased by 65% and their operating revenues and employees by 30%, against flat trends for other top 100 multinational enterprises. The importance of digital multinational enterprises – including internet platforms, e-commerce and digital content firms – is also growing rapidly. WIR17 presents a new top 100, ranking digital multinational enterprises by their international production footprint.

What can we say?  Digital marketing and new technologies are synonymous with an international language, and they are all leaning more towards customization, that particular message that connects with each target audience, which is differentiated thanks to the power of data or a database. What does that mean? That businesses must adapt their message or else they will be dismissed immediately. CONNECTING WITH THE CLIENT has never had such a literal meaning. It also means that the digital transformation of businesses is mandatory for survival, and that it goes hand-in-hand with global expansion. Thus, it is important to speak to people in their own language to develop an even closer rapport:

 

Attention SMEs! Because this subject does not only apply to the big players. Lawyers, physicians, or psychologists can all expand their services through online consultations.“Online” is a very powerful adjective: we can help you enhance it. Does your company have a multilingual feature that is able to speak to potential clients around the world? We can help you!