Multilingual customer engagement software company Language I/O announced today a new subscription-based model that could reshape the way it does business.
Bundling machine translation (MT), human translation (HT), rapid-human translation (RHT) and technology into a single package, the subscription-based package delivers a wide range of technologies and services using a credit system. Company officials believe it brings an innovative new model for pricing services to the industry.
We’re excited about it and feel that it’s unique,” said Language I/O CEO Heather Shoemaker. “We haven’t seen another pricing model that bundles HT, MT, rapid-human translation (RHT) and technology all in a single credit-based model.”
The new model works by allotting customers with a set of credits they can then spend on any of Language I/O’s services as need demands. This frees both parties from the negotiation process that can often slow down projects.
“The language services industry has traditionally charged per-word for human translation services on a project-by-project basis,” Shoemaker said in a press release. “This model can slow down the translation process as parties negotiate POs and SOWs one project at a time. Our all-inclusive subscription model puts every type of translation service under a translation capacity limit whereby our customers can use their credits to pay for any type of translation service we offer without worrying about it on a project-by-project basis. Our unparalleled machine translation offering, CRM-specific apps, self-improving glossaries and other tech all come along for the ride.”
According to company officials, the new pricing system is a hit with some of their biggest clients like Taulia, a San Francisco, California-based financial company.
“Taulia has been using Language I/O for multilingual customer support since 2016 and we have been very happy with the quality of the translations and the easy-to-use apps that are installed inside our CRM,” said Yavor Chatalbashev, Taulia’s Director of Technical Services. “We immediately took advantage of this new, all-inclusive subscription, which enables us to exchange credits for any type of translation service. This model allows us to make the most of our subscription by using remaining credits at the end of the term for any outstanding human translation projects.”