Obtaining the highest quality translations possible is vital in virtually any area of business, but it is especially critical in the financial industry. The results of one poorly translated document within this highly regulated industry can be catastrophic, and may range from loss of revenue for the financial institution involved to business-crippling legal actions. When it comes to financial documents, even the smallest error – such as misplacement of a period or a comma – can have devastating consequences.
To avoid any type of worse-case scenario happening in your organization, you should choose a reputable translation company and work with them to have your documents translated. There are several reasons for this.
A good translation company can match your needs with a trained, professional translator – preferably one with a solid background in the financial industry. Only a linguist with experience in finance will understand industry-specific terminology, and you’ll want a translator with a keen eye for detail to achieve the highest quality end product possible. A good translation company is careful to check the background and experience of each of their translators, as well as reviewing the quality of their translations, so this arduous task is not left up to you.
Whenever possible, finding a professional translator who is also a native speaker is preferable. Finding an experienced translator who is also a native speaker on your own – not to mention one with a strong background in the financial industry – can be a difficult task, to say the least.
Translators who are employed by a translation company not only have the client to answer to; they also have to be accountable to the company that employs them. For this reason, issues such as confidentiality – which is almost always of concern within the finance industry – can be adhered to not only by the individual translator, but can be assured by the translation company as well.
Focus on numbers
A reputable translation company can make sure that your translator is as meticulous as possible, particularly with regard to numbers and punctuation within a document. This focus on numbers is especially crucial since punctuation and/or the numeric system used may vary from one language to the next.
While it’s true that globalization is occurring throughout virtually every industry, it is exceedingly evident within the financial arena. More than ever before, the global banking and finance industry is relying on high quality translation services. No matter what type of business documents your company needs translated – from financial statements to banking documents to business agreements to annual reports and more – it is vital that you work with a reputable translation company in order to secure the services of a professional translator with the financial industry background you and your business will require.