Language service providers often have a difficult time understanding their customers. Translation companies often tell us that they know they’re not the only provider in their client’s life, but they don’t really know how much translation budget is available throughout an account. They have limited visibility into what factors affect their customer’s vendor selection process. They typically don’t understand why a client chooses to bring on other vendors or send more work to one company versus another.
But, as this report reveals, buyers have very clear criteria for making decisions about vendors – and buyers are getting even more savvy with time. Organizations are improving their procurement processes, reducing their vendor pools, centralizing their operations, and in general, “wising up” about how to make the most efficient use of their language service providers (LSPs). Also, technology is finally starting to fill some of the automation voids that made vendor management a veritable nightmare for clients in the past.
How many suppliers does the typical client have? What percentage of work can we expect if we are their primary vendor? What are the reasons that customers choose to “break up” with a vendor? What are the most important characteristics when it comes time to send work to one vendor versus another? In this report, we explore such questions.