Making Localization a Profit Center
Track: Preconference | P08 |
Wednesday, June 8, 2016, 1:30pm – 5:00pm
Held in: Liffey Meeting Room 3B
Andrew Lawless - Team Lawless
If you do not have answers to all three of the following questions, this workshop is a must.
- How much profit will your company generate with an increase in your localization budget?
- How much does your localization program contribute to your company’s top and bottom lines?
- Do you know what these are?
In this workshop you will develop metrics that prove to your executives that localization is a revenue engine, not a cost center. You will be able communicate the value of localization in terms of corporate revenue, profits, cash flow and growth. After all, localizers like you help US businesses to generate $2.4 trillion in international revenue and Germany to export one third of its national output. Export remains the primary engine for Ireland’s growth amounting to US$120.2 billion in 2015. Many countries have similar stories to tell. And what they all have in common: localization is a legal or customer requirement to sell.
You will begin making your case by first understanding the financial terms that count for a localization business: profitability, cost drivers, cash flow and reliance on vendors for finance. Then we will connect the dots to financial concepts any business must understand such as: revenue and top line, direct and indirect costs, selling, general and administrative expenses, profit and bottom line, cash flow, balance sheets, and assets and liabilities. Toward the end of the workshop we will apply your learnings and begin linking your localization activities to your company’s success in terms of value per translated words, revenue per term, affect on branding and image, customer satisfaction, employee time and other company or organization resources, shift to web services from direct services (such as from support centers) and web analytics/conversions.