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COVID-19 LSP Survey Data - CEO Thoughts

We asked 124 CEOs in our survey to share additional thoughts on the crisis and how it has affected their business.

We share here a representative selection of those comments organized by company size (using annual revenue range) and geographic region.

US$1 to US$4.99 Million

“With the government now enforcing social distancing, we've seen our clients' call center capacities diminish, which in turn has impacted demand for services.”

Asia-Pacific

“The impact of the crisis is really profound, especially in oil and gas sector since in this case we have a double negative effect of pandemic and extremely low oil prices.”.

Eastern Europe

“One aspect affecting business is associated services for which we rely on partner companies, in our case audio production being the most prominent example, which is heavily dependent on teams of people working together in person, and this is seriously impacting ongoing work.”

Latin America and the Caribbean

“We will wake up in a very different world when this ends.”

North America

“The added complication of working with the children needing homeschooling and communication with the team is trickier and more time consuming.”

Northern Europe

“Lower demand for translations and late payments or no payments are some concerns. Some clients may go bankrupt if there isn't adequate public economic solution.”

Southern Europe

“Long term projects are disrupted (shift in revenue over time). A number of clients revert to what were formerly low-priority jobs so there is a slight surge in demand to compensate for that.”

 

“We saw an increase in demand from our clients in education.”

Western Europe

US$5 million to US$19.99 million

“Any business that will be able to survive this is a business that has cashflow.”

 

“There's an increasing un-balance between client needs and translators' work - clients are decreasing needs while translators want more work.”

 

“Great variance in sectors. Travel/hospitality down, obviously. E-learning, gaming and media steady or maybe rising. Great unknown for us is e-Learning. Logically we should benefit in the medium term but training budgets are an easy target in a recession.”

Asia-Pacific

“While some business dropped off drastically (hospitality), other companies continued at the same or higher level (healthcare, IT/Internet companies).”

 

“Labor classification will be a huge issue even more so after and during.”

 

“During this crisis, we feel fortunate to have clients who have a very strong business model and who remain, in large part, fully operational. Our own model allowed our team to transition to full-time teleworking very quickly. Despite some internal communication challenges, we are operating virtually normally. We do anticipate a slowdown once the initial wave of COVID-related communications ends, as our clients will no doubt put more ambitious projects on hold, but we are ready for that possibility, and are adapting our business development activities to compensate.” .

North America

“Conference interpreting has basically ceased; the customers are not willing to pick up remote interpreting. New recruitment has been put on hold as well.”

 

“Localization is a core function for most large enterprises hence we expect demand from existing customers to hold up.”

Northern Europe

US$20 million+

“Drastic drop in customer orders and demands. Clients put contracts on hold until further notice.”

 

“Language service business requirement is driven by economy and global trade. Currently economy is slowed down, trade is slowed down, language service will slow down with no doubt.”

Asia-Pacific

“We have finally seen a significant shift in VRI demand after years of client resistance to the technology. I think in the past people saw it as a replacement for over the phone interpreting, however I think they now understand it’s really a replacement for face-to-face interpreting.”

Northern Europe

“More focus on cash flow.”

Western Europe