;   Medical Translation Insight: ROI for terminology management - ForeignExchange Translations

ROI for terminology management

ROI for terminology managementIn medical translation, ROI calculations are few and far between. And really, why bother with fancy financial models? If medical device and pharmaceutical companies want to sell in foreign markets, translation is a must.

But things are a little different when it comes to terminology management. Sometimes confused with translation memories, clients often view glossaries as valuable but nice-to-have tools to assist translators. In part, that's because, again, ROI calculations are hard to find.

So it's nice to see tekom tackling this issue. A few months ago, they ran an article on the growing importance and cost-savings possibilities of terminology management. "An Bedeutung gewonnen" is in German but here is the English version via Google Translate.

The key take-away is that terminology management does lead to savings in authoring and translation. Specifically, the study concluded that savings would amount to EUR 0.045 per word. Here is the break-even analysis:

ROI for terminology management - medical translation

The article is well worth a look. For medical translators and clients alike, the data, ROI calculation, and even the "practical tips" at the end provide good ammunition for convincing purse-string holders that an investment in terminology management makes excellent business sense.


In contrast to most other translation companies, ForeignExchange does not do "all things for all people".

We support the world's leading medical device and pharmaceutical companies with specialized medical translation services for regulatory, clinical, and marketing efforts. Contact us today for more details.

 
 

2 Comments:

  1. Anonymous said...
    A related article by the same authors, in English: Cost and effectiveness of terminology work
    Andres Heuberger said...
    The link in the comment above isn't working anymore. Here is an updated link:

    www.tcworld.info/tcworld/content-strategies/article/tekom-study-cost-and-effectiveness-of-terminology-work/

Post a Comment





 

Services | Resources | Company | Contact Us | Blog | Home

(c) Copyright 2010, ForeignExchange Translations, Inc.