Monday, 11 June 2018

Estimating the translation costs with the CCM formula

Cash is the fuel essential for the very existence of any business organization. And, to flow in cash in the business it’s necessary to know the adequate cost of services prevailing in the industry. In the case of translation business deriving the cost of translation services is primarily dependant on variables like the word count, text and graphic adjustments, level of urgency and the language pair involved. But precisely talking the translation costs are derived from the CCM formula i.e., Commonness, Complexity and Monetary aspects of the languages in concern. Let’s dig in deep and understand what all is included in each of these elements of the CCM formula.
Commonness of the language
 It all starts with contemplating how common or rare the concerned language is. If there are many sources available to provide the translation services then keeping the cost high is of no good as it will bring in no customer to ask for your services. But in case there is some rare language at the translation desk, then automatically the fees will go high and even the people asking for it won’t make much fuss about the amount. Whatever is the language pair, the quality and the timely delivery of the translation services is what enables translation agencies in Delhi & around the world to notch up their service cost.
Complexity of the translation
With complexity, we meant the years of study and practice required to ace the language that is much higher than the other ones. Dutch, German, Japanese and Chinese language translation falls under this category and therefore has higher prices per translated words as compared to the others. The simpler is the learning process of the language, lower becomes its price per word and vice versa. Whenever one goes for any of the complex foreign or regional languages, then they should better keep a close check at the quality criteria as there are more chances of silly mistakes that can end up ruining up the whole thing.
Monetary aspects
One more issue that greatly influences the translation costs is the type of monetary exchange that a country can have. Nations with strong economy backup have a higher cost of living than the rest of the world hence, the translation of these languages is costlier than the others. Norwegian, Danish and Swedish translations are clearly the part of this category and are considered the most expensive languages of Europe.

The above-mentioned factors give us the basic idea of the budget that would be needed for the translation project. To get the accurate cost these factors need to be balanced out together as a whole.

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