ABBYY LS Spends $ 6 Million on Development and Launch of a Marketplace for Freelance Translators in Europe and the USA

    ABBYY Language Services entered the European and US translation services market with the new SmartCAT Internet service . It is a marketplace for freelance translators. “40 thousand translators from 70 countries of the world are registered in SmartCAT and about 1 thousand language pairs are represented,” said Ivan Smolnikov , CEO of ABBYY LS . $ 6 million was invested in the development of the service. SmartCAT commission is 10% of the payment amount. Customers will be able to pay for services through PayPal, credit cards or make a wire transfer to the account. The planned revenue of the service will be $ 1.5-2 million for the next year after launch. In Russia, it will be launched in December 2015.

    The service also provides tools for automating the translation process: translation memory, glossaries, terminology management, numerous quality checks and much more. The platform saves the translated sentences and, in the case of similar phrases in any other text, translates them automatically. This saves freelancers time. In addition, translators will be able to use the OCR optical recognition system if the customer has sent it as an image. “Translation is one of the few areas where computers are still not very likely to be able to completely replace a person,” said a spokesman for ABBYY LS.

    According to ABBYY LS, the Russian translation market accounts for about 1% of the global market, which has about $ 40 billion. Nevertheless, SmartCAT also has several major competitors in the Russian market: Tranzilla , Translation Exchange 01 and Translator.me . According to its own data, more than 26 thousand translators are now registered in the “Translation Exchange 01”, about 4 thousand in Tranzilla, and about 3 thousand in “Translator.me”.

    According to representatives of ABBYY LS, the main advantage of SmartCAT compared to analogs is the translation automation tools built into the platform. In addition, SmartCAT provides its services to freelance translators for free. True, the service "Translator.me" is absolutely free, both for translators and for customers.

    “Freelancers can be used to translate simple documents, such as passports or certificates, but they are unlikely to be useful in highly specialized topics. In addition, in translation agencies, texts of medium and high complexity after the translator are read by the editor and proofreader, because their quality is higher than that of freelancers, ”draws attention to the general director of the translation agency " Silver Coat of Arms " Vitaly Derbikov.

    “In order for any company to order a transfer, it needs to draw up a contract, and therefore a freelancer must have the status of an individual entrepreneur. If the translator does not have one, only private customers will use his services, which significantly reduces the audience of the exchange, ”a representative of the SayUp translation agency told Kommersant . “The client pays under an agreement with the SmartCAT platform, and she already transfers funds to freelancers who conclude agreements with her when registering for the service,” retorts ABBYY LS.


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