Hilversum (The Netherlands) – Dutch company HelloTranslate is shaking up the translation industry with a new translation services platform. This innovative business model allows HelloTranslate to offer translation services at a fraction of the cost for both clients and service providers.
The worldwide market for translation services is estimated to be approximately USD 50 billion and continues to grow as a result of the increasing digitalization and globalization.
Among other things the turbulent growth of e-commerce has led to increasing demand in translations. Corporations that operate Internationally typically maintain one website in the respective local languages of each of the countries where their brand is present. Keeping these websites up to date is partially automated, but still requires manual labor. The effort is especially costly, complex and inflexible when it comes to the technical connections between those various website.
HelloTranslate is the brainchild of Dutch entrepreneur Rikkert Engels. Engels is the owner of Xillio, a leader in data migration. HelloTranslate marks his entry in a new market segment. The platform is meant to be a solution to the translation problems companies are struggling with. It handles large translation jobs and represents considerable costs savings for clients and translation services providers alike.
HelloTranslate is a marketplace on which translation service providers can also offer their services and where clients can access the offering that fits them most. Through the HelloTranslate platform clients and service providers can connect with each other within two days. For clients, the so-called Translation Development Kit (TDK as HelloTranslate proudly coins it) offers a unique open-source system which allows far easier transition from one service to another because they are no longer technically bound. The TDK also reduces the complexity to add multilingual automation from roughly 60 days of work to 2 days of work, creating significant savings. HelloTranslate is operational immediately and already features 90 services providers.
HelloTranslate is offered free of charge to clients. Translation service providers on the marketplace pay 1 cent per word. This is a significant cost reduction from the financial impact of approximately 3 cents that technology currently represents on the average rate per word. Rikkert explains: “We are expecting that HelloTranslate will tap into an entirely new market, as the hosting of multiple websites in different languages is now made available to even smaller companies.”