Learning Area

Global cooperation plays a crucial role in stimulating economic development. Within the finance and insurance sectors, multilingual meetings and events play a vital role. These events serve as a crucial platform for negotiations, boosting productivity, and nurturing partnerships among industry stakeholders.

As global events unfold, language accuracy is vital for accommodating a diverse range of stakeholders, including co-workers, customers, investors, and institutions. At the same time, failure to understand technical and financial terms creates a meeting experience that is as frustrating for the speaker as it is for the participants. Even worse, translation issues can lead to miscommunication, potentially stalling agreements or even breaking them. Within such a delicate industry, this can have severe implications. Especially as multilingual communication is essential for ensuring team collaboration as well as facilitating effective communication between investors and customers across different countries.

In this article, we briefly unpack the challenges and benefits of hosting multilingual events before exploring steps that finance and insurance companies can take to source the right language interpretation solution. One that leads to successful, stress-free, and accurate multilingual events. 

Are communication barriers hindering the success of your business? If so, you’re not alone. Many international finance corporations are in the same boat. These organisations face the challenge of crucial information being lost in translation, mainly due to the different linguistic backgrounds of their team members.

For many businesses, expanding into new markets is the key to growth. However, as you move into other regions, partner with suppliers, and draw from the global talent pool, language barriers will undoubtedly emerge. Language issues remain a persistent problem for many organisations. As a Forbes Insights and Rosetta Stone Business report reveals, more than 100 executives at large US businesses find that language barriers have a “significant impact” on business operations.