Proprietary model, based on 10 years of independent industry research, is as an assessment tool and road map for LSPs to evolve to the next maturity stage
(BOSTON) – September 15, 2015 -- What does it take to succeed as a service provider in the fast-paced language services industry? LSPs come in all shapes and sizes, yet no single element defines a successful company. Independent market research firm specializing in the language services industry, Common Sense Advisory (CSA Research), has developed a proprietary model designed to evaluate the maturity of language service providers. The model, named LSP Metrix™, describes six maturity stages and how LSPs can use it to perform self-assessments.
“We were in a unique position to build this model,” comments CSA Research’s lead analyst on the project, Hélène Pielmeier. “We combed years of data from our direct research and interactions with language service providers, buyers of language services, and investment firms that have a stake in this industry. We ended up with hundreds of maturity elements and spent months synthesizing them into a model that LSPs can use as a road map to evolve to the next maturity stage.”
The model, which is detailed in the report LSP Metrix, is built upon the following cascading series of assessment elements:
- 70 evaluation factors. These elements include observable measures such as the number of years in business, the organizational model of the sales function, and company differentiation.
- 19 assessment areas. CSA Research groups those 70 evaluation factors into 19 categories that are most easily assessed as a set. They include leadership, marketing, and technology.
- 5 dimensions. The 19 areas in turn are narrowed down into five core groups that synthesize the factors and areas. These five dimensions, which include business model, business direction, business development, service delivery, and resources, provide the basis for determining a company’s current maturity stage.
“We expect the LSP Metrix model to revolutionize how people think about language service providers,” adds Tahar Bouhafs, CEO of CSA Research. “LSPs will strive to evolve to the next stage. Buyers will look for vendors that meet certain stage criteria. Even job seekers will eventually target LSPs that are at a maturity stage that best suits their skill set.”
LSP Metrix is available as a part of CSA Research membership. Visit www.commonsenseadvisory.com for more information.
About Common Sense Advisory
Common Sense Advisory is an independent market research company helping companies profitably grow their international businesses and gain access to new markets. It specializes in best practices for translation, localization, interpreting, globalization, and internationalization. www.commonsenseadvisory.com
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Contact: Melissa C. Gillespie, 760-522-4362, Melissa@commonsenseadvisory.com