Financial translation is a broad language service that is used by companies across a wide range of services. Transactions keep the business world moving and international brands don’t have time for language challenges getting in the way of funds. Likewise, financial companies produce documentation that needs translating for different markets: annual and interim reports, shareholder letters, market reports and more.
To illustrate how diverse financial translation is and the variety of businesses that require it, this article looks at some of the documents seven key industries need when translating on a regular basis.
Common examples of financial translation
Any business operating at an international level is going to need financial translation at certain points. Irrespective of industry, there are always instances where legal and financial documents need translating.
Here are some of the most common examples:
- Insurance: Regulatory documentation, terms & conditions, financial reports etc.
- Tax & accountancy: Tax reports, audits, income statements, expense reports, national tax regulations and other supporting documents.
- Real estate: Listings, contracts, local regulations, insurance policies, financial protection, income statements etc.
- Manufacturing: Order sheets and contracts, expense reports, staff contracts, market reports etc.
- Investment: Prospectuses, bonds, equities and reports for local authorities.
- Start-ups: Income statements, cash flow statements, investment summaries, financial forecasts, growth plans etc.
- Corporate business: Balance sheets, shareholder summaries, annual reports etc.
While a lot of the industries listed above could be considered financial sectors, all businesses operating in foreign-speaking markets need translation services from experienced financial translation experts for a range of important documents.
For example, the global manufacturing industry sources parts from all over the world with companies hiring talent from different places around the world. A product designed in one country may be built on the other side of the planet using parts sourced from multiple continents, creating a global trail of transactions that need to be documented – before you even consider financial reports, tax returns, contracts, wages and insurance.
Translation services with financial expertise
When you are translating important financial documentation, you need more than language experts. You need specialist translators with financial expertise and experience working on the documents in question. For example, if you are translating tax returns for international markets, you want a translation team that understands the regulations of local tax authorities, as well as the specialist terminology involved.
Likewise, a company publishing quarterly reports for multiple audiences will benefit from localising each version of the report to suit the interests of local audiences, something that goes beyond basic translation.
So it is important that you choose a language services company that not only has the expertise needed to translate your documents, but also understands where they need to be adapted for specific markets and audiences.