Word Connection traveled to Madrid last week as CEO James Myatt represented the team at the 13th International EUATC Conference, T-Update 2018.
The successful event gathered LSC leaders and decision makers for a time of education and community. Throughout the two-day event, insightful workshops examined the future of the translation industry and global expansion.
First, Robert Etches’ keynote address primed the translation industry for change. He opened by challenging the audience with the words of Prof. Peter Fisk, CEO of Thinkers50: “there will be more change in the next 10 than the last 250 years.” Thought provoking, indeed!
The blockchain revolution
So, what do the next 10 years look like for language service companies? For one, Etches suggested that blockchain technology will revolutionize translation payment methods. Currently, most translation agencies are not equipped to accept cryptocurrency payments. For some, it may not even be on the radar. Etches called on LSC leaders to consider: we no longer use Blockbuster or a travel agency. So, “who will not be using you in two years’ time?”
Etches managed to raise a few eyebrows with his blockchain technology ideas. By the end of the presentation, Myatt said, “his forecast of a giddying pace of change in the industry left some people speechless.”
Data protection tips for LSCs
Another important change discussed at T-Update 2018 was data protection. The EU’s new General Data Protection Regulation (GDPR) will go into effect May 25th, so the discussion was especially timely. Eva Skornickova, a data protection and IT security compliance advisor, led an informative and detailed discussion. Importantly, she went into detail on how the new European regulation will impact LSCs in particular.
“It was really good to have an expert who could answer all questions regarding the GDPR,” Myatt commented. “Since Word Connection takes data security very seriously, it was affirming to know that we are on the right path for protecting our clients.”
Sales techniques for global expansion
Looking beyond the EU, the event’s “Going International” theme fostered important conversations for LSCs expanding globally. Jessica Rathke, principal of L10N Sales & Marketing, led a workshop on “How to Expand Your Sales Team Internationally.” She helpfully discussed different approaches to break into a new market, and how to adopt a strategy that works for the type of customer you want to attract.
The power of community
Lastly, the event also emphasized the power of community in the translation industry. By working together, small and large LSCs can meet the challenges ahead. The focus on community was evident in the ample networking opportunities that allowed attendees to create and strengthen relationships.
“As we work primarily with language companies,” Myatt comments, “the conference was a great occasion to meet with existing clients to talk about projects and make sure things are running smoothly. It was also good chance to meet delegates from national associations from many countries from within the EU.”
A warm thanks to Geoffrey Bowden and to all the organizers of the EUATC’s T-Update 2018 for their hard work in organizing this event!
Stay tuned for an upcoming post on the GDPR and the measures Word Connection has taken to protect client data.