Lingotek, the Translation Network, announced enhancements to its Vendor Management application (app) on its translation management system (TMS). The new Vendor Management app gives enterprise localization managers, vendor managers, and project managers new tools for managing multiple language services providers (LSPs) and projects. Automating vendor management provides critical operational efficiency to enable more scalable globalization strategies and a cost-efficient localization network that optimizes budgets and reduces translation spending.
These enhancements to the Vendor Management app automate the entire process for managing vendors: vendor selection, tracking costs and spending, vendor performance and quality, and collecting valuable business intelligence to evaluate project delivery and efficiency. With this data, organizations are able to repeatedly select vendors who provide the highest translation quality and consistently deliver jobs on time.
The Vendor Management app simplifies and consolidates the process for requesting quotes, setting rates and pricing, choosing vendors, managing deadlines, tracking spending, and measuring translator quality and performance. An available dashboard displays in one place all of the information needed for tracking and evaluating information on vendors who are providing the highest quality translation and what their on-time delivery percentage are. This gives project managers insights to better manage workloads and resources for maximum throughput. Project managers can also use Lingotek's Vendor Management app to closely track translation spending and easily identify projects that are exceeding their estimated cost or are at risk for timely delivery. The app also tracks the leveraging of translation memories (TM) to gauge the efficient reuse of linguistic assets across the enterprise.