In order to give potential clients a little more background, we will provide a definition of economic translation. Economic translation is a type of specialised translation that is carried out in the field of economics and finance. This field includes financial markets, banks or even the stock market.
Characteristics of economic translation
The economic translation services are undoubtedly one of the most difficult. The main reasons for this are the peculiarities that define this discipline and its high level of complexity.
In the following, we will illustrate some of the characteristics of economic translation to put readers in context.
First of all, we must consider the complexity of the economic language present in the texts being translated. An economic text will be full of specific terminology. In order to be able to identify these terms and translate them correctly, it is necessary to have knowledge of the field. These terms are sometimes accompanied by jargon which is characteristic of the economic field. This can go unnoticed as it masquerades as common language in many situations.
On the other hand, we have to consider external factors such as who the people sending and receiving the text are. Often, the senders are professionals who have a high level of financial literacy. The receivers, on the other hand, can be both professionals and people who are just starting out in the financial world.
An adequate economic translation service will analyse aspects such as those mentioned above in order to offer an optimal service. In this way, it is ensured that the client’s expectations and needs are always met with the utmost professionalism.
When might we need economic translation services?
Earlier, we mentioned that economic translation covers areas such as banking, financial markets and the stock market. However, in which specific cases are economic translation services needed? Some of the scenarios in which we will need an economic translation are as follows:
- a foreign company requests the market analysis performed by our company;
- a national newspaper requests the translation of news about a financial market from a foreign one;
- when merging with a large foreign company, they may request a translation of the other company’s latest authorship report;
- a business plan has impacted a large foreign holding company and they wish to have the version in their language.
Why is it important to have professional economic translation services?
In economic translation, or in any other field of translation, it is essential to have a professional service. Having a professional translator will guarantee the success of the translation and takes the professionalism factor for granted.
Let us think about it on a small scale: if we don’t want a pair of shoes to hurt us, we choose good, quality shoes. The same is true for professional translation, as it ensures that those annoying scuffs and sores will be avoided.
A professional economic translation service gives the client the peace of mind that their work is in good hands. We cannot overlook the great impact that many of these texts can have for clients. The future of our company may depend on the translation of an audit report.
For all these reasons, security, peace of mind and professionalism, it is always necessary to resort to professional translation services. This is what we at Translinguo Global® want to assure our clients: professionalism is always present.