Translation Memory was first conceptualized by Martin Kay, Professor of Linguistics at Stanford University, in his seminal paper "The proper place of Men and Machines in Language Translation". A translation memory (TM) is a database that stores "segments" - source text and its corresponding translation. The text can be sentences, paragraphs or sentence-like units such as titles of a web page. Since Martin Kay's early research, the use of translation memory has become pervasive across the industry, being incorporated in translation management systems, machine translation engines, CAT tools, etc.. Some of key benefits are:
• Accelerate Time to Market. Translators can translate upto 300% faster through use of translation memory and CAT tools supporting predictive feedback.
• Reduce Translation Cost. By leveraging translation memory, content previously translated does not need to be retranslated. Fuzzy Matches (a sliding scale of close to perfect segment matches) do not need to be retranslated and cost less for for editing the segment. This results in up to 50% cost savings over time.
• Increase Brand and Message Consistency. As the segments in translation memory are being reused across your content with approved terminology and brand terms, translations become consistent over time. This results in higher brand affinity and customer satisfaction.
• Centrally Managed. OneTM, Cloudwords patented Translation Memory, is securely managed in our SaaS platform. This translation memory is updated in near real-time, allowing for a variety of translation processes - translators or language service providers translating content or post-editing after machine translation.
• Unlimited Use. Our subscription pricing provides every customer the ability to store and use an UNLIMITED amount of translation memory. Customers get an ever increasing Return on Investment (ROI) as more content is translated and translation memory grows.
• IP Ownership. Translation Memory belongs to the customer and can be searched, modified and exported at any moment in time.
• Cloud Scale. Cloudwords holds 2+billion segments on behalf of its customer valued at over $250m in assets. Our platform can support a customers ever growing needs for processing and storage.
• Reporting. Cloudwords provides detailed reports so project managers can view how much translation memory is being leveraged.
• Industry Standard. Cloudwords leverages the industry standard Translation Memory eXchange (TMX) for importing and exporting translation memory.
Translation memory's value grows over time as more content is translated. In some of our customers the translation memory is valued at over $10m dollars. Would your organisation's Chief Security Officer or Chief Financial Officer be happy to learn that an asset of this value is held by a 3rd party, company has no direct access to the asset or not being used to its full extent ?