High translation cost can be a significant burden for businesses. Look at these statistics:

The rise of generative AI and economic instability has caused traditional translation services to face declining revenues, with the industry generating $49.68 billion in 2023, down from $52.01 billion in 2022. ~ CSA Research

As you can see from these statistics, this decline reflects how businesses are increasingly searching for cost-effective solutions. And if your business falls under that category, luckily, you now have a solution to your problem – subscription-based translation services.

Subscription-based translation services are a better, more cost-effective solution for helping your business save money and time! This article will tell you how.

Why Are Traditional Translation Services are Costly?

The issue with high translation costs begs the question – why are traditional translation services considered so expensive? Let’s discuss it!

Illustrating economic pressures and complex pricing models
Illustrating economic pressures and complex pricing models

Economics

Economic pressures play a massive role. Inflation and shifts in industry dynamics affect many industries, and language services are no exception. In the traditional translation business model, the cost of sales related to human service (which includes human translators and project managers) can easily exceed 70%. In the inflationary business environment, translation agencies face a challenging situation.

Advanced new AI systems

Additionally, the advent of AI has introduced a new challenge: businesses have started to see translation as a “free” service, reducing their willingness to absorb the increased human services cost.

Due to economic instability and uncertainty about how AI can change translation methodologies, businesses have postponed spending, reducing the demand for traditional translation services. Financial pressure has made it challenging for conventional service providers to maintain revenue.

Complexities of Translation Costing by Traditional Service Providers (LSPs)

Another reason traditional translation services are considered more expensive is that they often involve complex pricing models that can strain business budgets.

These services offer a degree of flexibility, with each project costing based on factors such as the source language pair, the complexity of the subject matter, and the turnaround times.  As a result, businesses need help ensuring they have accurate estimates to control their translation expenses.

For example, the client can only precisely estimate the cost of professional translation for technical content with specialized terminology and faster turnaround times if they consult a translation agency in advance. Obtaining this information is not possible without an automated system of a localization platform.

 

How Subscription-Based Translation Models Reduce Cost and Save Time

Let’s examine some ways subscription-based translation models can help your business reduce cost and save time!

Illustration showing how subscription-based translation models reduce costs and save time
Illustration showing how subscription-based translation models reduce costs and save time

Pricing Based on Work Required

Subscription-based model pricing is designed to prioritize pre-defined quality.

It’s based on the complexity of the source content and the human effort required to translate it. You only pay for the work needed to achieve the necessary quality-level translations for the given content. This approach allows you to get your translations faster, and the costs are usually lower than traditional models, which charge on a per word basis of the whole source document and lead to higher costs.

 

Flexible Credit System without Translation Rates

The subscription-based model uses a flexible credit system to manage costs. That means content that requires minimal human effort to translate will use fewer credits, while more complex or critical content will use more credits. It allows your business to allocate resources and manage translation budgets more effectively, and avoid the additional costs of traditional pricing models.

 

Efficient Management of Multilingual Translation Projects with Advanced Tools

Managing the translation of ongoing content updates can be time-consuming and cost you money if you’re using traditional translation services. On the other hand, a subscription-based model eliminates these unnecessary costs and delays with help from automation.

Such models often include advanced integrated translation tools and API connections. These technologies allow your business to automatically reuse previously translated content and to reduce the need for repetitive manual work to handle translation requests.

API integration optimizes updating your translated content by allowing seamless connections with third-party platforms, access to freelance translators and reducing the burden of organizing translations via emails or job-posting portals.

 

How Can Predictable Budgets and Scalability Reduce Cost of Translations

It is crucial to have a predictable budget for translation to calculate a return on investment on your localization initiatives, and it is easier to achieve with a subscription-based service. Let’s quickly point out some important aspects.

Illustration showing how predictable budgets and scalability support business growth
Illustration showing how predictable budgets and scalability support business growth

Fixed Monthly Fees and No Translation Cost Fluctuations

With the subscription-based model, you pay a fixed monthly or annual fee, allowing you to predict your translation expenses accurately. Traditional translation services often involve project-based pricing that can fluctuate based on complexity and volume, making it difficult for your business to determine its localization costs.

With this subscription-based translation service, you can manage your expenses better and ensure they align with your financial goals.

Scalability to Support Business Growth Easier

As your business grows, so do your translation needs. The subscription model allows better scalability, as you can adjust your translation allowances as and when needed. Usually, extending your subscription plan is as simple as purchasing an additional service package, which takes immediate effect.

Also, localization platforms offer broader pools of freelance translators that can be tapped for different languages, including less common target languages. This is reducing the time to launch your localization effort for a new market and its target audience easier and faster.

Cost Reduction via Speed of Translation

Because the system intelligently selects content that needs to be revised by translators, you save time and money that would be unnecessary spent on translating content that does not require any effort.

With a localization solution based on an automated translation process which reuses previously approved translations, API connectivity, access to native speakers and professional translators and most importantly: it offers fixed subscription fees, you can eliminate unnecessary delays in obtaining approvals for quotes for translating new content and to start projects faster, eliminate unnecessary human translation cost and easier scale, if required.

Why Should You Choose TextUnited for Your Translation Project?

If you’re looking for a better and more affordable way to manage your translation needs and taking advantage of the subscription model, you need a tool like TextUnited.

TextUnited's website
TextUnited’s website

TextUnited is a supervised AI translation platform that stands out for its subscription model, direct access to professional translators, and user-friendliness.

A significant highlight of TextUnited is its combination of machine translation with human expertise, which ensures high-quality translations at an affordable rate for multiple languages.

TextUnited can achieve everything we have discussed, from simplifying budgeting to eliminating the unpredictability of traditional pricing models.

 

Start Reducing Your Translation Services Cost: Where Do You Begin?

Throughout this article, we have highlighted how subscription-based translation services like TextUnited can significantly reduce translation costs and save your business time.

We discussed how this subscription model offers fixed monthly fees, stable pricing, and scalable solutions. Tools like translation memory and API integration make it much easier for your business to handle ongoing large-volume content updates as well as ad hoc smaller translation requests.

Most importantly, TextUnited’s trusted subscription model combines affordability with professional translators and subject matter experts, making it a preferred choice for many businesses looking to simplify and optimize their translation processes and obtain quality translation at the right cost level.

Now, take advantage of all these benefits offered by subscription-based translation services and check out TextUnited’s subscription options to see how they can meet your content localization needs.

Visit TextUnited’s website and check out the various subscription plans available. Don’t wait; start saving on your translation costs today!

 

Additional Resources

You may find the following resources helpful: