Why Financial Translation Requires Specialized Knowledge and Skills

Posted by  admin Posted On  September 17th, 2014
financial-translation

The globalization of business has made it essential for organizations to communicate their financial information in multiple languages. Along with translating the financial information into a number of languages, the business further needs to ensure that the investors, clients, suppliers and other stakeholder receive 100% accurate and precise financial information. A minor error by the translator can have a huge impact on the business’s reputation and credibility.

Like other translation, financial translation also involves translating documents, web content, reports and financial statements. But the sensitive nature of the content makes it essential for the translator to translate it perfectly by understanding text’s complexity and sensitivity.  Along with maintaining the quality and accuracy of the original text, the translator also needs to maintain the integrity of ROI, profits, EBITDA and other key metrics precisely.

The financial service providers further have to present their product portfolios to investors and clients residing in different countries. There are also chances that most of these clients and investors do not speak English. So the product portfolio must be translated by a skilled translator who knows how to keep the message and impact of the original text intact to meet its specific objectives.

At the same time, the financial translator also needs to localize the text by understanding the local culture, language and standards. He must use the most appropriate terminology and writing style to make the translated text relevant for readers. Likewise, he needs to avoid certain terminology and writing style that may result in misunderstanding and offence.

On the whole, financial translation requires translation and localization of the text, along with maintenance of the quality, accuracy and impact of the original text. So it is important for organizations to avail financial translation services from a reputable company that deploys native translators who understands the nuisances of financial translation perfectly.

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