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Translation Pricing: How it Works

Published on June 18, 2020 by Nicole Coen

Translation Methods and Tools

Translation pricing is often provided as a range of pricing options, which may seem confusing at first glance.

At CyraCom, we believe pricing is an important factor to consider, and we want to give you all the tools you need to understand what you’re looking at as you select a vendor. To clear up the mystery behind translation pricing, we’re providing a breakdown of terms and methodology below:

Interpretation vs. Translation: What’s the Difference?

Interpretation and translation are separate services with unique pricing methodologies. Interpretation refers to the communication done between spoken or sign languages, which may be priced on a per-minute basis (phone and video) or per hour (on-site).

Translation refers to written, translated texts. Translation companies typically charge for translation on a per-word basis.

The Cost Breakdown for Per-Word Translation Costs

Translation costs can vary depending on the type of project, so it is important to understand the contributing factors. Here are some of the elements that go into creating a cost estimate:

  1. Language Selection(s). This applies to the specific language(s) requested, or the number of languages needed.
  2. Content Volume. The length of text may affect pricing, especially if the client requests a fast turnaround.
  3. Subject Matter. Regular rates apply to standard content, such as informational or consumer-targeted text. Other texts that are more jargon-heavy may require subject matter experts and more intensive work.
  4. Time Sensitivity (If Applicable). Time-sensitive projects may be subject to a higher rate.

CyraCom takes a consultative approach to project management. We will partner with your organization to plan and budget your translation needs by evaluating the above criteria.

Achieve Additional Cost Savings with Translation Memory (TM)

CyraCom creates a secure, dedicated translation memory (TM) database for each organization. Using this database, our translators can easily track and integrate previously translated phrases and sentences into new content. This practice not only speeds up the translation process, but can also help achieve cost savings for your organization. New projects that have memory matches with previous content may receive a discounted pricing structure.

Want to Learn More?

Contact us today at getstarted@cyracom.com to learn how we can help your organization meet its translation needs.

Does your organization plan to issue a Request for Proposal (RFP) for translation services? If so, learning the details of translation pricing can help you create informed questions and help lead to more comprehensive responses from translation providers. Check out our comprehensive RFP Guide for Healthcare for more information on how to craft the perfect RFP for translation and interpretation services.