When it comes to Finance Localization accuracy, quality and subject knowledge is a must. With global financial transaction being part of daily business life, it’s important that there is accuracy in every transaction. Ever zero or decimal point or’ %’ sign missed or misplaced on a financial report could potentially reverse the fortune of a company, and the ripple effects could be disastrous. Financial Localization doesn’t end with just daily transaction; there are weekly, monthly and annual financial reports and reporting; let’s not forget audit reports and financial statements.
Tips on Financial Localization
- Maintain international Standards – It is important to maintain international standards when it comes to financial terminologies, terms and phrases. All Language Service Providers (LSP) should provide financial statements drawn up and translated as per International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS).
- One LSP – In the financial sector confidentiality is of utmost importance. One trusted LSP will provide stability and data security. Besides the confidentially factor, maintaining one single LSP will ensure that your financial data records are maintained and recorded systematically, thus each consecutive financial report will be not only accurate but will (if required) also be able to extract data from previous financial reports as well; this in useful in the case of annual financial reports, where not only is the current years financial data required, but also the previous years financial data is needed as supporting information.
- Project Management – In Financial Localization it’s very important that there is structure and structured management. This can be achieved by making sure your LSP is able to provide you with a dedicated Project Manager who will keep your project deliveries on schedule and maintain quality accuracy.
- ISO Certification and QA – It is imperative that your LSP has the relevant ISO certifications and a quality assurance (QA) process in place for every project.
At g11n, we realize how important it is to keep your financial documents secure, accurate and of the highest quality right through the Localization process.
- Financial Software
- Bank Statements
- Insurance Policies
- Business Plans
- Balance Sheets
- Corporate Financial Documentation
- Tax Reports
- Annual Reports