The annual report is a cornerstone of any modern business. Used by investors, creditors, and clients, it outlines a company’s financial performance, gauging their financial integrity and creditworthiness, and also allows the business itself to assess its own financial health. Most countries also require annual reports to be submitted for tax purposes.
Financial reports require careful planning, and you will need to combine style, clear communication, and total accuracy so that data can be leveraged by any relevant parties. However, for international enterprises, the preparation intensifies thanks to the number of different languages your business communicates in, as well as those spoken by the people who will read the report. This makes financial translation a vital process.
Enhance readability
If you simply use a machine translation tool like Google Translate to translate your financial reports, the resulting text would be awkward and unnatural to read for native speakers. This is because these services don’t take into account factors like word order, cultural considerations, and words which have multiple meanings. Translating your financial report in this way would undermine the whole document, making it hard to understand, and ruining its readability.
This is where professional financial translation services come into play, as seasoned translators use their fluency in the language to ensure the report makes sense to the target audience. As all of our financial translators are native speakers, London Translations can guarantee that the nuances of the original report are preserved. Furthermore, our translation team takes cultural considerations into account, such as idioms, and local time and date formats, so the content is as accessible as possible to your international target audience.
Maximise precision
There is absolutely no room for factual mistakes in a translated financial report—it simply must be as accurate a reflection of the original document as possible. Any inconsistencies between data in the two copies could have severe repercussions for your business. In fact, research shows that inaccurate data costs the average business between 15 and 20% of its revenue.
Here at London Translations, our financial linguists all have experience in the industry and, therefore, a firm grasp of the data used in financial reports. Using this insight, they can make sure all data is consistent across every document, guaranteeing total precision. Furthermore, they ensure that any financial jargon is translated accurately, and is fully comprehensible, preventing any possible miscommunication.
Guarantee confidentiality
By its very nature, the data in your financial report is commercially sensitive, and probably confidential. This is another area where machine translation tools may fall short. Take Google Translate, for example, which states in its terms of service that the company has the right to reproduce, modify, publicly display, and distribute any inputted content among other uses.
Here at London Translations, we pride ourselves on protecting our clients’ privacy, and the ways we collect, process, and use your data comply with UK and EU data protection laws. As an ISO 17100 certified company, we are also recognised as a quality provider of translation services. Consequently, you can trust us to keep your financial records out of the wrong hands.