For a life sciences company choosing a translation provider, does the size of the agency matter? Absolutely! There are several reasons why a life sciences company might prefer to work with a smaller, mid-size translation company like TrueLanguage over larger translation companies. Let’s take a look.
Translation Agency Sizes: Some Statistics
Based on data from the Nimdzi 100 report for 2022, the top 5 translation companies were estimated to capture around 10-15% of the global translation industry revenue of $50 billion. While the top translation companies do command a significant share of the market, there is a large and diverse range of providers serving the industry. This diversity is one of the strengths of the translation industry, as it allows for a wide range of services and specializations to meet the varied needs of clients.
Specialization and Expertise
Smaller translation companies often specialize in a narrower range of industries like life sciences. They’ll have a deep understanding of the terminology, regulations, and nuances associated with the field. This specialization can result in more accurate and high-quality translations, particularly for complex scientific and technical content. TrueLanguage has years of experience and access to some of the best linguists in the industry, with extensive subject matter expertise.
Personalized Service
Smaller, mid-size translation companies typically offer a more personalized approach to their clients. They often have closer relationships with their customers and can provide tailored solutions to meet their specific needs. The project management team in a smaller translation company may have a more direct and hands-on involvement in the translation process, ensuring better communication and attention to detail. You won’t be a small fish in a big pond, and you’ll get the personal attention you deserve.
Flexibility and Agility
Larger translation companies may have complex organizational structures and processes that can slow down decision-making and project execution. Smaller translation agencies are often more agile and can quickly adapt to changing requirements or timelines. They can be more willing to accommodate urgent or customized requests from their clients.
At TrueLanguage, we will never ask a client to adapt to our process. Instead, we’ll adapt to their workflow, and if we see areas for improvement, we’ll work closely with them to implement the changes. The end goal? Efficiency, flexibility, quality, and lower cost.
Quality Control
Mid-size translation companies like TrueLanguage often have stringent quality control processes in place. Due to their specialized focus, they may have a more rigorous selection process for engaging translators with subject matter expertise. This attention to quality can be crucial for life sciences companies that require accurate and precise translations to comply with regulatory standards.
Consistency
Huge translation companies may outsource projects to smaller vendors or internal teams. If you are translating your project into several different languages, you may be dealing with different vendors. That could mean more than one project manager and an increase in the risk of inconsistencies in the final product. Insist on full disclosure of “who, what, when, and where.”
Cost-Effectiveness
Large translation companies may have very large teams. That can mean more overhead, and those costs are passed on to clients. While it may vary case by case, a smaller agency can typically offer more competitive pricing. They will have lower overhead costs and can provide more flexibility in negotiating rates or offering bundled services. This can be advantageous for life sciences companies with budget constraints or those looking for a cost-effective solution without compromising quality.
Confidentiality and Security
Life sciences companies often deal with sensitive and confidential information, such as clinical trial data or proprietary research. Smaller translation companies may be able to provide a higher level of data security and confidentiality due to their tighter control over internal processes and resources. There are fewer “cooks in the kitchen.” They may also be more willing to sign non-disclosure agreements (NDAs) or implement additional security measures to guarantee the protection of client information.
It’s important to note that the choice between a smaller translation company and a larger translation company ultimately depends on your specific requirements and preferences. Factors such as project scope, timeline, budget, and the complexity of the content should all be considered when making this decision. The bottom line? You should not assume that bigger is better.
Contact us at TrueLanguage to explore whether we’re a good fit for your next life sciences project. Not too large, not too small. Just right.
