Year In Review

A Look-back at IdeaText in 2018

year in review

As the warming smells of gingerbread cookies, mulled wine and bacon patties are starting to fade, there’s a bittersweet feeling that the holiday time has inevitably passed and the spotlight has been given to the future.  With everyone getting focused on their New Year’s resolutions, we at IdeaText decided that January would be a good time to look back at what has been done and achieved in the year 2018. Here’s IdeaText’s year in review.

Year in Review – Specializations

Let’s start by looking at specializations. The below chart shows no surprise in terms of our main and most serviced specialization. Although technical translations would deserve a separate chart due to the high number of different sub-specializations included in the industry, for the sake of the bigger picture, we decided to put it together with other specializations. More than half of IdeaText’s translations have been done for clients of different technical backgrounds – starting from toasters and blenders, going all the way up to complex hydraulic pumps and digging devices.

Automotive translations brought in approximately 15% of our revenue in 2018, providing to be the second most employed industry at IdeaText. Automotive goes hand in hand with technical translations, and mostly dealt with texts related to heavy transit trucks, harvesting machinery, construction-related vehicles and alike.

Coming in the close third place in 2018 was the finance sector. Thanks to successful cooperation with a number of translation service providers in the finance field, we had an opportunity to work on a large range of finance-related texts. Going hand in hand with legal translation, we received big portions of key investor information documents (KIID’s), finance projection summaries, purchase contracts, etc. Handling finance is always challenging in terms of timeframes and our teams surprised us by stepping up big time.

Rounding up the top four industries in 2018 we have translations in the clinical research field. Again, this goes in close relation to patents, claims and translations in the medical field, however, we felt that it deserved a separate mention due to specific nature of each of these subgenres of medical translations. IdeaText feels proud having been chosen as a language partner to leading clinical research companies in Europe and the United States and to be working on important steps of clinical research, such as patient interview translations, research papers, doctor training documentation, recording device manuals.

Year in Review – Languages

Moving on from translation specializations, we will have a look at the most translated languages during the year 2018. IdeaText primarily positions itself as a Northern European based translation company and this is what the chart below reflects. Having the luxury of being the middle-point between Scandinavia and Western Europe, we are in the sweet spot of being able to remain competitive with these otherwise costly languages.

We are looking at quite an even distribution between Scandinavian languages with a mix of the largest Western European languages. Danish and Swedish are tied for the first place, which was decided by a couple of larger technical projects in these two languages.

When it comes to Western European languages, apart from a heavy emphasis on German, it is again an even split of approximately 6-8% per languages (Dutch, Italian, Polish and German). We do look forward to improve the number of competing languages in the Western European languages sector in 2019.

The year 2018 has definitely had its bumps and bruises when it comes to developing business, but the overall trend has been significantly pointing up throughout. With roughly 3.5 million words translated which is a 43% increase in business compared to 2017, we are looking to start our year as motivated as ever. You are welcome to visit our Facebook page to have a look at our new office space, follow us on Twitter for some language related relief, or connect via LinkedIn to discuss ways we can cooperate in the New Year.

While our numbers grow, our values will remain the same – to provide the resources and flexibility of a large company, while maintaining the relationships and personal customer service of a small team that you started with. We wish our clients, our partners and our vendors a prosperous and action-packed year of 2019, and may these “year in review” articles become increasingly interesting to read and write.