Case Study: International money transfer firm cuts spending by 68% with 99% accurate AI translations
One of the largest organizations in global money transfer and financial services chooses Smartcat for its need to translate and localize enormous volumes of content.
Until recently, departments across this organization handled translations in a more traditional manner. However, they collectively decided to look for a new translation solution that provided greater flexibility, transparency, and quality consistency.
The company’s Global Diversity & Talent department was the first to try Smartcat. The team highlighted the Smartcat platform’s capabilities of eliminating translation budget wastage, generating 3x faster turnaround times, and ensuring quality consistency.
The challenge
The translation needs of the Global Diversity & Talent team were focused on localizing education and training materials on compliance and cybersecurity. They also created multilingual video subtitles and internal communications. Their needed target languages included Spanish, Brazilian Portuguese, French, Russian, and Dutch.
Two traditional language service providers had predominantly handled the recurring translation requests of the team. The Global Diversity & Talent department experienced some recurring problems with their two primary translation service providers:
1. Slow turnaround times
They were struggling with long wait times for translations, which in some cases are urgently needed.
2. Inconsistent quality
They were consistently receiving poor-quality translations. They needed to go back and forth between the two suppliers to see who could give them the highest quality for the best price.
3. Poor use of translation budgets
Eventually, the excessive number of feedback loops and the need to pay overhead to these vendors meant budgets weren't used sustainably. The team decided they needed to completely overhaul how they managed translations.
Other departments also highlighted problems with their translation service providers. These include generic translations that were inconsistent in terms of tone of voice; a lack of quality control and poor results; slow turnaround times for large and urgent requests; and rigid payment models.
The solution
The payments company wanted a drastic, urgent change. The Global Diversity & Talent team was drawn to Smartcat for a number of key reasons:
Direct access to the world’s largest marketplace of reviewers
The company was particularly interested in Smartcat’s marketplace of over 500,000 vetted professional reviewers, as they would be able to see each reviewer’s experience, subject matter expertise, reviews, and pricing, and communicate with them directly.
Smartcat offers AI-sourcing, an industry-first AI-matching algorithm that analyzes content against reviewer performance and subject matter expertise to assign the best resource to the task.
Sorting is also based on a reviewer’s specialization, language pair, market, country of origin, and more.
Senior Manager
Learning & Development in the Global Diversity & Talent team
Seamless, fast file translation management
The organization is now able to work with nearly any file format, translating XLIFF, Docs, videos, and PPT files to name just a few of the formats they require for their educational and training materials.
Simple supplier procurement and payment
Companies often turn to agencies to source translators in part because of the complexity surrounding the process of contractor payment. Smartcat’s enterprise-compliant procurement platform eliminates this bottleneck by allowing companies to manage all reviewer resources anywhere in the world through a single contract and invoicing system, reducing the administrative burden.The entire process takes minutes instead of hours.
Automated, customizable AI-human translation workflows
Smartcat’s simple to use, secure, enterprise language AI platform has many automation capabilities. For example, companies can use ready-made translation workflow templates, which include AI translation and human editing. The combination of the two working seamlessly together reduces costs – on average by between 50% and 80% – triples turnaround time speed, and delivers the highest quality multilingual content translation and generation. AI generates automatic translations using the industry’s best adaptive AI translation engines.
Then, subject matter expert human translators and reviewers ensure that the AI translations are on brand, high quality, correctly formatted, and fit the context precisely. This human feedback loop ensures the technology learns from your edits to continuously improve.
The result
Translation performance in numbers:
Cost savings: 68%
Total cost savings: $49,753
Average % of translations accepted with any changes: 99%
Average turnaround time with Smartcat: 951 words/hour
The learning and development (L&D) translation needs of the Global Diversity & Talent team have significantly improved. They’ve managed to regain management control over their content translation. The company now also knows which translators align best with the brand and they have the flexibility to hire as many human translators and reviewers as needed to keep up with demand.
Senior Manager
Learning & Development in the Global Diversity & Talent team
Working with a language service provider is still an option for companies when they use Smartcat. A team can invite anyone to collaborate with them on the enterprise language AI platform while still retaining full transparency over project statuses, workflows, quality, and resources.
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