October 10, 2014 Newsletter

October 10, 2014 Newsletter


President’s Message


Introducing Our First Rural Utah International Business Forum

CEO Derek Miller
I am excited to announce that WTC Utah’s first Rural Utah International Business Forum will take place Nov. 3 from 11:30 a.m. to 2 p.m. in Vernal. The forum will provide tools and resources to help rural businesses “think, act and succeed globally.”

Those who attend the forum can expect to learn about the opportunities for rural businesses in the global economy and the process of international expansion and exporting. We will provide a tool kit with resources on how to take the next step in growing your business internationally. Utah is well positioned to increase its presence in the global economy and WTC Utah has the tools and resources available to help make that happen.

Please note this event is not just for business leaders, but for anyone in the community who cares about the economy. Economic expansion requires the efforts of elected officials, government employees, education leaders, Chambers of Commerce, community and professional associations and all consumers. We hope you will plan to attend.

Registration is free, but limited to the first 90 people to sign up. Register here.

Best wishes,

Derek B. Miller

President & CEO

 


 


Going Global: InWhatLanguage

For the four-year-old Utah translation company inWhatLanguage, going global is central to everything it does. With a global network of linguists, many global companies have come to rely on inWhatLanguage for “100 percent culturally adapted” translation services.

“We specialize in expert translation and communication services in over 160 languages using native linguists covering 120 countries,” says Cody Broderick, founder and CEO. “It’s a common misconception that because we are headquartered in Utah, we have a bunch of returned LDS missionaries translating content for us. While many of the missionaries are quite talented with their second languages, they still can’t culturally adapt and localize content like our native speakers, who speak English as their second language.”

There are too many instances and scenarios, he explains, where the content may be too technical, or the writing too creative for a non-native linguist to understand the nuances. Therefore, the company’s translation services require on-the-ground native speakers to translate in order to provide the level of quality that inWhatLanguage customers have come to expect. Accordingly, the native speakers have been vetted, credentialed, tested and qualified. They have proven track records of performance and success in the industry.

“We only work with native speaking translators that live in the country,” Broderick affirms.

The company’s services include translation of content such as websites, website translation, software translation and documents of any form. But that’s not all. The company offers a human side to its translation services by providing conference interpreting, phone call interpreting, interpretation during businesses meetings, multilingual desktop publishing, high-level voice-overs for videos, film and training and subtitling services. Broderick says the company has about 13 different service products that it sells to its clients.

“We ensure our clients’ content is adapted for international markets, and their globalization and their internationalization efforts not only have a strategy and plan behind them, but a team with over 30 years of experience to ensure they are working correctly in these target markets around the world,” he continues.

Ultimately, Broderick says his company helps its clients increase their global revenues while decreasing globalization costs. One significant benefit to In What Language’s services is that clients are allowed to communicate directly with linguists in-country. That way, the linguist becomes part of the team and builds a relationship with the client, developing a deep understanding of what the client’s goals are and how it is trying to communicate.

“Our service is so personal, it cuts the red tape for the client and links everything together seamlessly,” Broderick notes.

inWhatLanguage manages many of its linguists via teams located in Ireland and the Netherlands. About 15 percent of the company’s revenues come from the European market and the company is ramping up to create a greater presence there. The company leverages its teams in Europe using a “follow-the-sun model,” he explains. “Our European teams are seven or eight hours ahead of us, so as we are logging off at night, the teams in Europe are able to pick things up and keep them moving forward. “

To grow its business globally, inWhatLanguage leverages opportunities like the recent Utah Global Forum to network, increase awareness, create personal relationships and pollinate existing relationships with value. Broderick says he was able to visit with clients from China, San Francisco, Silicon Valley and other areas during the Utah Global Forum.

Further, the company has participated in several trade missions led by Gov. Gary Herbert and partners with World Trade Center Utah, the Governor’s Office of Economic Development (GOED) and the Utah office of the U.S. Commercial Service for global business development.

“I see World Trade Center Utah, the U.S. Commercial Service and GOED as an open door,” say Broderick. “These organizations are resources for smart companies that want to leverage that open door. There are rarely any fees for their services, you just have to be proactive enough to engage with the team and ask for help. World Trade Center Utah has been extremely helpful. The opportunity to partner, gain exposure, talk about what we are doing and build relationships–it’s just phenomenal.”

inWhatLanguage has also worked extensively with the Utah Procurement Technical Assistance Center, in order to obtain a GSA schedule. Looking ahead, Broderick says the future for inWhatLanguage couldn’t be brighter.

“We are traveling every three months. We are targeting markets. We are engaging global companies,” he says. “We have a major leg up with just the fact that we speak over 160 languages and we are positioned to start dominating this multi-billion dollar market.”

inWhatLanguage is currently on the verge of releasing its robust translation management system, a software tool that Broderick says is customizable for clients, has built-in automation functions, works in any file format and archives and saves all past projects for future consistency with previous translations and content. The system also drives costs down by almost 25 percent over the competition. The beta version will be out in about 60 days.

“We are really trying to speed things up for our clients, so their time-to-market is shorter, while also decreasing their globalization costs and increasing their quality,” he concludes. “That is our focus. This is an exciting time for inWhatLanguage.”

 


 

Trade Mission

The World Bank Private Sector Liaison Officers-led trade mission to Senegal and Ghana encouraged and fostered collaboration among participants and with local companies, helping them find new potential partners for future business opportunities on World Bank-financed projects.


Trade Mission Success in Senegal and Ghana

In September, World Trade Center Utah helped facilitate a successful World Bank Private Sector Liaison Officers-led trade mission to Senegal and Ghana for companies interested in procurement opportunities in West Africa.

World Bank Private Sector Liaison Officer Elizabeth Goryunova says the participating companies first visited Dakar, Senegal and then traveled to Accra, Ghana. During the trade mission the companies participated in country meetings and presentations with The World Bank Group, The African Development Bank, The United Nations and Government Embassies and Trade Representatives of Senegal and Ghana.

“This multiple-country delegation visit to Senegal and Ghana was focused on project development with the International Financial Institutions (IFI) and designed to provide understanding of the procurement process and opportunities for the private sector,” Goryunova explains.

During the mission, the participating companies were able to learn about IFI financing in the environment, infrastructure, energy, ICT and education sectors. They also discussed project opportunities and requirements, identified specific opportunities for products, services and capabilities, and created important business-to-business relationships on the ground in each participating country.

She says the World Bank teams in Dakar and Accra greatly appreciated the exchange of ideas and level of discussion with the participants of the World Bank PSLO-led delegation, “especially considering its multi-national nature.” The mission encouraged and fostered collaboration among participants and with local companies, helping them find new potential partners for future business opportunities on World Bank-financed projects.

Goryunova says Senegal aspires to be a high middle income country by the next decade. Gross domestic product growth was four percent in 2013, compared with 3.4 percent in 2012, and confirmed Senegal’s economic recovery. The new development strategy laid down for the period from 2014 to 2035, called the Plan Sénégal Emergent (PSE), is based on growth of at least five percent in 2014 and 2015. Over the medium term, Senegal is expected to regain economic momentum.

Meanwhile, Ghana’s economy is expected to maintain its robust growth over the medium term, she says. The growth is bolstered by improved oil and gas production, increased private-sector investment, improved public infrastructure development and sustained political stability. Ghana’s economy has maintained commendable growth trajectory with an average annual growth of about six percent over the past six years. In 2013, growth decelerated to 4.4 percent, considerably lower than the 7.9 percent growth achieved in 2012.

Over the medium term to 2015, the economy is expected to register robust growth of around eight percent.


 


About World Trade Center Utah

We are located at 60 East South Temple, Suite 300, in Salt Lake City.

Call us: (801) 532-8080

Email us: globalutah@wtcutah.com

Web site: www.wtcut.com


October 10, 2014


 


In the News


Utah.gov on Best of the Web Medal Platform Again

Utah.gov, the state of Utah’s official website, has been recognized again by the Center for Digital Government with the prestigious Best of the Web award. This year, Utah.gov took away second place.

(BusinessWire)


Silicon Slopes meets Silicon Valley

Recently the Utah Valley Chamber took a group of young tech CEOs and some of our veteran CEOs to Silicon Valley for two days of intense company tours and some play … I mean teambuilding.

(Daily Herald)


Dr. Kimberly Henrie accepts leadership role in Utah’s economic sector

The Governor’s Office of Economic Development is pleased to announce Dr. Kimberly Henrie has joined the team as the new deputy director and chief operating officer.

(Utah Pulse)


 


Upcoming Events

 

OCT

21

World Affairs Lecture: Rose E. Gottemoeller–Nuclear Weapons in the 21st Century Westminster College Vieve Gore Concert Hall in the Emma Eccles Jones Conservatory

OCT

25-31

NOV

3

Rural Utah International Business Forum, Vernal, 11:30 a.m. to 2 p.m.

NOV

7

Utah Technology Council 2014 Hall of Fame 6-9 p.m., Grand America Hotel