The translation industry is notoriously opaque when it comes to pricing. Until recently, there were only two options if you needed a translation: somehow do it yourself, or ask a specialist. Traditional translation agencies have made the most of their captive market, adding hidden costs and creating loopholes in their pricing system in order to maximize their profit margins. Although new services are challenging their industry monopoly, these changes have actually made it even more difficult to pin down what you\u2019re actually spending your money on. As a result, there\u2019s no quick answer to the question of how much translation costs.<\/p>\r\n
All of this can be a nightmare if your business is looking into translation. With different services using different pricing methods and no universal standard fee, it can be difficult to gather all the information you need to make a good decision. In the interests of clarity, let\u2019s run through some in-house and outsourced translation of the hidden factors that come into play when using various translation services. By knowing what will affect the price of your translation, hopefully you\u2019ll be able to make a more informed choice and increase the profit margins on your investment.<\/p>\r\n
Whether you\u2019re talking to an agency, a freelancer or a crowdsourcing service, some factors affect the cost of all translations. The following considerations should be kept in mind when conducting your market research:<\/p>\r\n
As the oldest players in the industry, traditional agencies have plenty of tricks up their sleeve to make sure they turn a profit. Here are some of the specific factors that may affect your bill:<\/p>\r\n
Faced with all these extra costs, it can be tempting to just bring translation in-house, particularly if your business needs regular translation. However, far from saving you money, this can prove to be a significant investment that your company doesn\u2019t need to make. For more information on the costs involved, check out the article we wrote comparing in-house and outsourced translation<\/a>.<\/p>\r\n It\u2019s clear to see that this is an industry in need of a pricing revolution. Luckily, crowdsourcing is tackling many of these hidden costs head on. By using crowd technology, it\u2019s now possible to employ thousands of professional translators from across the planet who compete for jobs at one fixed, competitive rate. These easily scalable platforms are wiping away the industry\u2019s vague promises without compromising on quality.<\/p>\r\n Thanks to the growth of these new services, both customer and translator are increasingly accepting no excuse for unclear pricing. Soon, traditional agencies will have to come to terms with this shakeup of the industry. Once they do, there may finally be a short answer to the question of how much translation costs.<\/p>\r\nThe crowdsourcing solution<\/h3>\r\n
How much does Gengo cost?<\/h3>\r\n