Every company, regardless of its industry, strives to achieve two key goals: providing customers with the highest quality services and maximizing profits. In the world of translation agencies, these goals often come down to precise quoting. LivoLINK, a comprehensive translation project management software, places great emphasis on this issue, enabling translation agencies to estimate potential margins at the quoting stage.
The Golden Rule of precise quoting
Quoting is a key process for every translation agency. But how can you precisely assess costs and margins, especially considering translators’ rates vary depending on specialization and other factors? This is where LivoLINK comes in.
Automatic margin estimation
LivoLINK offers the functionality of automatic cost and margin estimation at the quote stage. It means that the person preparing the quotation no longer has to rely on intuition or manual calculations. LivoLINK provides the estimated translation cost and calculates the potential margin on a given quote.
Accuracy and configurability
The cost estimation method is fully customizable by the company. This means that the translation agency can adapt it to its unique needs. The company can indicate representative groups of translators divided into e.g. specialization, availability, native language, supplier rating, etc., based on which LivoLINK will calculate the average translation cost. This approach provides even greater precision in estimating costs and margins.
Competitive advantage
Thanks to LivoLINK, the translation agency has a tool that allows it to quote precisely without fear of the quotation being too low or too high. This not only increases the company’s competitiveness but also builds customer trust. Customers appreciate the professionalism and precision in quoting, which can lead to more successful projects and loyal customers.
The outline
Estimating the potential margin at the quote stage can be a challenge for Project Managers or sellers of your LSP, but LivoLINK makes this task much simpler and more precise. This tool not only streamlines the quoting process but also helps translation companies achieve greater efficiency and competitiveness in the market.