LOCALIZATION IN THE ENERGY INDUSTRY
The Vietnamese energy market is witnessing a mass entry of various foreign investments, raising up demand for localization as a result. To most companies seeking to lower or maintain margins, simply they need to partner and consult with a professional LSP (language solution provider) to maximize the proficiency of their localization strategy and fit the current economic climate.
Let’s take a glance at the process of localization for an energy company.
- Market research
The first step of all business is to do market research. If a company is going to run its business in the Vietnamese energy market, it should outline the rules, preferences, and culture of individuals inside. A related thing to be noticed in this step is the market expertise. As a major content of the energy sector contains a high volume of regulations and legal documents, the company needs to make sure they are translated accurately to meet the local government requirements.
- Localization as a program strategy
After getting a basic grasp of the target market, companies should plan their own strategies based on the data collected. Overall, it is necessary that they view translation as part of the long-term business strategy rather than conduct it in a transactional way, so as to ensure gaining positive benefits from the economy. Therefore, our advice is to look at localization as a program and strategize with an LSP to define the optimal workflow for your own project.
- Localization partner
Then, choosing a localization partner is another matter to deal with. Here are 3 criteria the companies should take into consideration to figure out a reliable LSP for localization:
First of all, security. The localization process has various touchpoints and numerous people involved. So make sure you choose a partner with international accreditation in security measures to guarantee your data and information will not be seen by unwanted eyes.
Second of all, expertise. The energy industry is full of terminologies that are required to be fully understood by the workforce after being localized. Therefore, it must be best to find an LSP whose translators have experience in the energy sector, but you can also pick another with experienced and knowledgeable of-energy translators.
Finally, the technology. Advisable LSP for energy companies is those with high translation technology, which helps reduce the costs and improve consistency throughout the collaboration.
