The financial sector plays an increasingly crucial role in today’s world. This varies from planning a company budget to difficult investment decisions. Is your company operating internationally or listed on the stock exchange? Do you run an accounting company or another company in the financial community?
Your financial documents are important to your company's success and need to be translated properly. That’s why, on this page, lingoking would like to share some important information on how to translate your financial documents.
When do you need translations services for financial documents?
Among the most frequently translated financial documents are:
- Business reports
- Session protocols
- Result reports
- AGM invitations
- Funding prospectuses
- Bond prospectuses
- Ad hoc releases
- And many more
Contract negotiations or other business activities among international companies require perfect communication. Financial interpreters provide support during conferences, trade fairs and other business meetings. They are often booked for training purposes of foreign staff.
What challenges arise from the translation of financial documents?
In a financial translation, the highest priority is recreating the specialist vocabulary and professionalism that corporate documents should exude. Experience in the financial area is absolutely essential in order to meet the technical and terminological requirements of financial language. Translators and interpreters of financial documents usually spend some of their professional life in internationally active companies or financial organisations.
Financial documents contain a high percentage of numbers and data. The correct interpretation of such data is called localisation. Among these data are currencies, values and date formats.
Translated financial documents often require certifications in order to validate their accuracy. A professional translation service is aware of international and national regulations concerning certified translations for official bodies.
What to expect from financial translation services
The best agencies will have five key attributes:
- Knowledge: A translator or interpreter needs to have a broad knowledge of technical terms and regulations in order to produce high-quality translations. They need to know about relevant jurisdictions and the rules they need to follow regarding the translation.
- Skills of the translator/interpreter: In some cases, a financial translation needs to be carried out by a certified translator or a sworn interpreter. Of course, the translator or interpreter needs to have the necessary language skills to provide the customer with a high-quality financial translation.
- Services provided by the translation agency: A great customer service, confidential and reliable work, a personal account manager, data security, easy communication, and a fast document turnaround time are important qualities of a good translation agency.
- Project management skills: Enough capacity and scalability are very important aspects. In general, a customised approach is very important to meet each client’s unique requirements.
- Additional services provided by the agency like professional interpreting.
How to choose the right translation services for your translation
Choosing the right translation agency can be a difficult task. Feel free to ask as many questions as possible to help you make your decision. A good translation agency should provide a top-quality service, be able to demonstrate consistent high standards, and offer the following features:
- Is the translation agency well-established? Have they been in business for a number of years?
- Is the translation agency experienced with the translation of financial documents?
- Do the translators have a good knowledge of the technical aspects of the text? Do they have insights into your branch of business to truly understand how you and your company work? Do they have experience with the regulations and guidelines that need to be met?
- Can the translation company provide you with certified translations if needed?
- Are the translators members of official organisations such as the American Translators Association (ATA)?
- Does the translation agency guarantee the privacy of your information throughout the whole translation process?
- Does the translation agency have a fast turnaround time? Can they send you a certified translation as fast as you need it?
- Is the translation agency straightforward when it comes to pricing? Will there be any extra costs?
- Can the translation agency provide any additional services such as an interpreter if needed?
In addition, many financial document translation services will also be able to provide interpreters, and perhaps offer certified translation of other documents like birth certificates.
You should definitely take your time before making a final decision. Make sure to find the financial documents translation services that suit your needs. Time spent at this stage of decision making is not wasted and is vital for a quick and smooth translation process.
Summary: Translation of financial documents
When you need your financial documents translated, it’s important to get it done properly. Using a professional translation service is the best way to make sure translations meet all requirements made by immigration authorities.
A premium translation company like lingoking can provide you with an accurate and fast translation whilst simultaneously always protecting your privacy. Get in touch with us if you require a translation of your financial documents and find out how we can help you!