Most of the world’s population cannot feasibly access translation services. Additionally, among those who can, the majority do not have access to affordable services. Even among the world’s smallest, most nimble LSP’s (with 20 or fewer employees, which constitute 86% of all LSP’s), the average revenue per job is $5,335. In other words, the cost of accurate affordable translation services for even the smallest customers is well above the price range of the massive segment of the global population that need fast, affordable translation services on demand.
Most of these smaller LSP’s will never be able to reach this enormous unserved market because they will not have the technology/technical infrastructure to provide affordable, fast translation services to a large customer base. And while some large firms have better technology than the smaller firms, their big-business corporate structure keeps prices high, and forces them to use their technology to improve their service offerings to only the largest corporate accounts.
None of these offerings provide access to rapid, highly accurate translation services to the student who needs to translate one paragraph for a term paper at 11:00pm, or the business owner in India who needs a small amount of content quickly and affordably translated into four other dialects of Hindi to communicate with potential customers. Language localization, at the business and individual level, drives the most immediate opportunity to capture the under served global market.
Businesses in any number of industries, including software, information services, manufacturing, healthcare, education, hospitality, tourism, and entertainment must break down language barriers to communicate with, and provide localized products and services to their customers, potential customers, and other stakeholders in order to compete. A platform that gives these businesses access to affordable, accurate translation services quickly opens the door to a multi-billion dollar market.
Our translation offering, together with our cryptocurrency transaction system will give purchasing power to anyone with Internet access and democratizes translation services to literally billions of people.
Through localization, content providers can also access any segment of the world’s nearly four billion Internet users. It’s no secret that people have great appetites for content, but they can’t consume what they can’t understand. From business and research content, to educational material, social media, entertainment, and other targeted content, the implications of allowing providers to quickly and affordably translate and disseminate their content to any audience are astronomical.