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Archive by tag: LSP business managementReturn

7 Tips to Prevent Pricing Objections

All too often, LSP salespeople don’t know how to counter the “you’re too expensive” argument, viewing it as the end of the road. But it doesn’t have to be.
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How The Pandemic Accelerated Change at LSPs

Ask people working in the localization industry if the move to working from home affected them, and many will tell you that they were already “remote” – set up to work from home, due to the nature of their jobs. Language service provider have no physical products to ship, no warehouses to store goods, and no fleets of trucks or ships to coordinate for deliveries. Coordinating language services in this day and age is essentially an ebusiness. On the surface, the switch to working from home app...
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Planning a Strong 2021

The COVID-19 pandemic has challenged many LSPs’ abilities to grow. In a January 2021 survey, we found that 44% of them experienced a setback in 2020. But that’s not to say the market overall performed that poorly. On average, despite the losses of many, we calculated a 3% growth from 2019 to 2020 for this group of providers, which has traditionally outpaced the industry as a whole. And they are overall optimistic about 2021, as their sales goal amounts to an average planned increase of 18% ove...
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M&A: Want to Sell or Merge?

In a recent blog we updated the changing M&A landscape for 2020. We also noted that respondents to CSA Research’s annual Global Market Study (GMS) have shown consistent interest over the years in buying, selling, or merging in response to the question, “How important will the following actions related to merger and acquisitions be in 2020?” Of the 356 respondents from the representative sample of 462, 29% said they wanted to sell, 34% would like to buy, and 30% preferred a merger.
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Language Sector Joins Global Surge to a Trillion Dollars of M&A in Q3

2020 started out with great financial momentum. The MSCI All Country World Index of large-, mid-, and small-cap stocks across 23 developed and 26 developing markets had risen almost 24% over 2018, an ounce of gold was worth 18% more than 12 months prior, and private equity groups had accumulated US$1.5 trillion in funds to invest. Businesses were primed for a stellar 2020, but by March, COVID-19 pushed most of the world to shelter in place. Companies shut down, employees were furloughed, and lif...
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China Shows the Way into the Post-COVID-19 Future

In late April and early May, CSA Research partnered with the Institute of Language Services, Hebei Normal University for Nationalities to survey 135 language service providers in China about their experience during the period when COVID-19-related restrictions were in force and what has happened since they were relaxed. As the first country to have experienced stringent limitations on movement, social activity, and work – as well as the first to emerge from them – the experience of Chinese LSP...
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Preparing Your Business for a Post-Pandemic World: The Team Factor

After taking temporary measures and expedients to continue operating during the pandemic, companies must now develop plans for what happens after COVID-19. They will do so against the backdrop of the two biggest concerns that CEOs of language service providers expressed in CSA Research’s mid-March survey: the existential threat of decreasing demand and uncertainty about how long the pandemic will last. While CEOs wrestle with those two issues, they have an immediate business challenge – how ca...
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Profiles of Interpreting-Focused LSPs in Times of COVID-19

The COVID-19 crisis has hit interpreting-focused language service providers particularly hard. Those with a mostly in-person offering are experiencing significant drops in bookings. Many are trying to offset this loss by transitioning customers to remote interpreting technologies or promoting translation services. Even LSPs with a focus on remote services are facing some losses due to the cancellation of nonessential engagements in healthcare, emergency services, and courts.
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Caring for the Linguist Supply Chain

In a separate blog post ("AB5, COVID-19, and the Plight of Freelance Linguists"), we examined some of the challenges that freelance linguists face right now on two fronts: COVID-19 and changes to labor law – focusing on the situation in California – that have created difficulties for individuals who work as contractors for many LSPs or clients. In this post, we turn to some of the concrete actions that LSPs, end buyers, and linguists themselves can take to improve the situation of th...
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What CEOs of LSPs Are Thinking about COVID-19 and Its Effects

Over the last 10 days CSA Research conducted several online group meetings with its various Leadership Councils and LSP research members, mainly CEOs of LSPs of all sizes. This executive brief summarizes and reports the themes, topics, and questions shared by members during these sessions. We arranged their input in four groups: Uncertainty, Business Planning, Operations, and The View Ahead.
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