Business Translation: General Issues in Financial Translation
Reading Time: 4 minutes

Business Translation Trends and Issues 

Translation covers various industries including business and finance. In any business field, business translation is needed because connections are built not only among cities but also between countries. The cross-border nature of the financial documents in many types of industries is a must. Therefore companies should only perform linguistically best documents for building a good report. Deals will be determined by the translated documents. A range of targeted languages is ready to translate for providing ease for business translation

When companies build a partnership with clients or partners abroad, they need to get ready with a set of translated documents. Even if the countries speak English and integrate English a great deal, we need to make sure that the companies need to use other national languages. Meanwhile, it is essential to simplify the task with the help of a translation service. However, when it is related to business and finance, speed matters. Companies have to make sure if the business translation service can work with the given deadlines. Besides, the financial world requires accuracy. Correct balance and accurate numbers will determine quality finance translation. 

Language Integration in Finance 

business translationEnglish is apparently a language that is accepted and widely used in finance. Financial market in all countries operates using English. However, it does not mean that all countries use English in their business documents and legal procedure. For instance, when it is the United States, the most common language to use in the investment sector is Spanish. Finance sectors across the United States make use of Spanish and not English. That must be a piece of new information for a small company that tries to engage a good relation with some companies from the USA. Even Spanish is a language that is used both in the financial circles and among workers. 

General Issues in Business Translation 

Of so many issues in business translation services, accuracy is still one of the most frequent problems that occur. This is so because many services do not understand that clients want to get an efficient translation product with the best accuracy. Not only the dictions, the translation products often serve inaccurate numbers and titles for the finance translation for various purposes. 

Also, some companies fail to see a prospect since they are only ready with English translation. Based on Forbes quotes, the common languages in finance is always related to the stock exchange top rank. The leaders are still the New York Stock Exchange followed by NASDAQ from the US. But surprisingly, English is not that much used since the users, marketers, or buyers in the stock exchange business are companies or people from other countries. Stock is spread across the globes including in Tokyo, Shanghai, and Europe. Therefore, financial translation services should cover Japanese, Chinese, Mandarin, Malay, Spanish, French, and even Germany as language preferences. 

business translationTo get the best translation result, it is important that companies make a thorough research to entrust their document translation to the reliable service. To get it right is simply vital. When a translation result mistranslated a word, the sentence can cause a huge financial loss. So, there are some requirements for main considerations. 

To translate numbers does not mean to rewrite the original numbers from the source text. Business translation does not always work that way. It is important to use the right punctuation. Some languages use different punctuations for numbers. For instance, in English, numbers will be separated by a coma while in Bahasa Indonesia, the numbers are separated by dots. That can create problems when translators fail to use the right punctuation. 

To use commas or dots is a cultural problem. Translators should never stumble over the issue because it will mean a lot of problems for the clients. In English speaking countries, 2,500 will be translated as 2 thousand and five hundred. Meanwhile, in many other countries, the comma means reducing the value of the number into just 2 points 5. Also, the world 100 million and 1 billion can be similar due to the cultural aspect while it might be confusing in other countries. Translators should be smart in integrating the translation so the result will be accurate. 

Even though it is a minor skill that must be mastered by many professional business translation companies, clients still have to find out whether they are good at financial translation. Their portfolio of working with business translation will ensure whether they can deal with the business and finance diction well. 

Business translation is thus not a trivial case for many companies and individual clients. The finance translation service is the key to professionalism and business efficiency at the same time. finance is a tricky sector to work with. Additionally, the terminology in finance and business always requires translators to be updated. Information and new terms of business might appear as soon as a new system of marketing is developed. Call for the best accuracy on business translation tasks.