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With no standard budgeting model for language teams, budget managers and directors continue to consult CSA Research on how to win more funding and, conversely, how to avoid budget cuts. Many continue to scramble to stretch flat budgets to cover an expanding number of markets, products, and publishing platforms each year. Here are 11 guidelines for budgetmeisters this planning season – and throughout the year.
Funding models may be top-down, bottom-up, or a hybrid. However, in all cases, most translation and localization budget managers answer to multiple stakeholders and decision-makers from different parts of their organization throughout the budget planning process. To be successful, they must build trust with all financial counterparts and inject wiggle room into their models.
Oftentimes, language managers and directors do not own or control their budgets 100%. They find it necessary to ensure flexibility with the initial amounts assigned at the beginning of the budgeting cycle. You can accomplish the same by building variance into initial estimates, reallocating funds between projects and stakeholder groups, stretching quarterly boundaries, and recalibrating your budget mid-year.
Budget management will take up less of your time when you follow this practical advice. If you don’t yet exercise 100% ownership and oversight of your funding sources, use those extra hours to develop a plan with your executive sponsor to gain that control. If you are already the master of your funding fate, take advantage of the extra time to think big. How would you invest differently to enhance your company’s current global customer experience if you headed global operations? There’s always room to improve.
Director of Buyers Service
Focuses on global digital transformation, enterprise globalization, localization maturity, social media, global product development, crowdsourcing, transcreation, and internationalization
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