Each year, your company likely produces an annual report that is used to outline your company’s performance in different areas. This report is generally presented to stakeholders in your company, investors, and may also be available to the public.
Because so many people will be able to read your annual report, you need to make it something everyone can understand. But the reasons to translate your report and make it available in many languages go far beyond that.
Here are a few good reasons you need to present your annual report in several languages:
YOU MAKE IT MORE AVAILABLE TO PARTNERS IN OTHER COUNTRIES
It is evident that you may work with people from different countries when you expand your own company. In order to keep these new partners in the loop on how your company is operating, you should present your annual report in their language.
A few people you may be partnering with could include foreign investors, international workers, or franchise owners who live and work in the areas you are expanding your business to. Keeping them updated on how your company is doing will help them know in what areas they can improve to impact the company in the best way possible.
Additionally, end-of-year reports often include a summation by company owners or leaders that suggest some things each person within the company could do to improve things for next year. Having all of this information translated for a wide variety of audiences can cut down on confusion and unite all of your workers and partners under one common goal.
BUILD TRUST WITH YOUR INTERNATIONAL CUSTOMERS
Many companies, in an effort to be transparent, offer access to their annual reports through links on their website. Here, any customer or researcher can access the information to see how to company is doing and what their money is being used for.
If a potential customer or returning customer is able to see everything that your expanded business is doing for their region, they will be more likely to return or become a dedicated customer. In addition, they will be happy that you and your business took the time to translate your materials into a language that they could read and understand.
In addition to financial reports and performance reviews, annual reports tend to include information on how the company plans to move forward. These may be in the form of a 10-year or 5-year plan that outlines the goals of the company. This part of your report can show your customers where you hope to take the company and can show them how your business will positively affect their economy.
UNITING YOUR COMPANY WITH THE COMMON GOAL OF SUCCESS IN MIND
Language can be a hard barrier to overcome when you are trying to communicate. Unfortunately, many companies tend to leave their international workers out of the loop when things happen, advance, or decrease within the company.
This can lead to mass confusion, bitterness, and low employee morale.
As mentioned before but not expanded on, translating your annual report into multiple languages can help to increase the motivation of each employee and can heighten the understanding of business goals and policies from the highest-ranking manager to the everyday worker. Your employees will be happy that their achievements are recognized and will be re-energized and ready to continue working toward the company’s many goals for next year.
HERE IS HOW YOU CAN TRANSLATE YOUR ANNUAL REPORT TODAY
Translating your annual report, as you’ve read in the above post, is obviously important. But how do you get started?
Many companies are tempted to save money by copying and pasting their text into a direct translation software. This can be a mistake, as many direct translations won’t make sense to native speakers. They can actually end up being pretty disastrous and can lead to embarrassing or culturally-insensitive translations.
Instead, you should hire a professional translation and localization service like the ones offered through VEQTA.
VEQTA is a translation company located in Thailand, Malaysia, and Singapore that employees thousands of well-qualified translators who live and work in your target areas. They know the language well and can translate your information in a way your target audience can understand.
The team at VEQTA can translate in up to 50 languages and are experienced in providing translation services for annual reports and other company-wide documents. For more information, visit our main website at VEQTA.com today.