Largest Supplier of Content Management Technology and Language Services Targets More Than $400 Million in Savings for Device Makers
Yahoo! Finance - March 4, 2014
NEW YORK - (Business Wire) - TransPerfect, the world’s largest privately held supplier of language services and content management technology, today announced the launch of EnCompass® content solutions for medical device makers. The new service line combines patented translation risk management with validated content management and productivity technology to create the world’s first integrated solution-set that enables manufacturers to cut labeling and content costs by more than 40 percent. For more information, visit http://encompass.transperfect.com.
A Cure for the $1 Billion Industry Headache
Estimates put the total cost of content management for U.S. medical device manufacturers at approximately $1 billion. This “total cost of content” is defined as all costs necessary to create, review, approve, update, manage, translate, and format content in the vital areas of clinical, regulatory, and marketing. Explains Marc H. Miller, Practice Lead for EnCompass, “Most manufacturers have document-based systems that use applications like Word or InDesign to produce labeling and marketing materials. This severely hampers their ability to standardize and reuse content. It also increases process cost and error risk.”
Document-based systems require manual operations to create or update content, both in the English source and translated versions. Research indicates that manual formatting processes are a significant contributor to the industry’s staggering cost of content. Manual processes are also to blame for more than 50 percent of labeling errors, the number-one cause of costly product recalls. Now, increasing economic and regulatory pressures are prompting manufacturers to tackle the rising cost and risk of antiquated content processes.
Automating Content for Cost Savings & Risk Management
Patented, risk-based processes and validated productivity technologies are at the center of EnCompass solutions. Explains Miller, “Device manufacturers are a unique group—each has diverse content needs that include labeling, marketing materials, websites, patent applications, and even human resources documents. Often, these groups use manual processes and can’t effectively share or leverage content, which leads to enormous opportunity costs and increased quality risk.”
EnCompass the Solution
Until recently, no single supplier has possessed the varied technologies and industry specialization required to build comprehensive content automation solutions for the highly regulated device industry. However, over the past several years, TransPerfect has been diligently working to develop and hone its services and technology offerings to address this need.
Drawing on the resources of the entire TransPerfect family of companies, the EnCompass solution includes Crimson Life Sciences (Notified Body-endorsed, patented translation risk management), Alchemy Software Development (validated software localization tools), Astoria Software and Vasont Systems (XML-based component content management systems), and Translations.com’s GlobalLink suite of translation productivity tools. This integrated solution offers manufacturers an unmatched capacity for modular content automation solutions.
Says TransPerfect Co-CEO Liz Elting, “It is very gratifying to see the EnCompass suite of solutions come to fruition and we’re excited to be the first to offer these unique cost and time-saving solutions to the medical device industry.”
About TransPerfect
With annual revenues of more than $400 million, TransPerfect is the world's largest privately held provider of language services and technology solutions. From offices in more than 85 cities on six continents, TransPerfect offers a full range of services in 170+ languages to clients worldwide. With an unparalleled commitment to quality and client service, TransPerfect is fully ISO 9001 and EN 15038 certified. TransPerfect has global headquarters in New York, with regional headquarters in London and Hong Kong. For more information, please visit our website at www.transperfect.com.