For many of us, 2017 is the Year-of-the-Rooster but for China it is more like Year-of-Computers and Electronics. According to KPMG’s latest report, Chinese mergers and acquisitions in this sector accounted for 25 percent of the total number of deals in 2017 H1 (read here about Chinese takeovers in strategic European sectors). Outbound M&A is a key strategy to China’s growth, and we may well gasp (in fear or admiration?) at the breath taking pace of this country’s ambition.
Mergers and acquisitions between global companies can trigger massive amounts of information to be translated, as the due diligence process unfolds and agreements are drawn up. For law firms, finding a Translation Services Provider that can cope with the demands of M&A is not easy. Earlier this year, EVS Translations partnered with an international law firm to provide translation for a pending merger between a German equipment manufacturer and a US holding. This was not about ‘document translation’, but providing the appropriate scope of infrastructure and resources to deliver robust management across discovery, production, discovery, review and quality assurance on a large scale.
For M&A, it’s essential that a Translation Services Provider fulfills – and nails – the following 3 areas:
Reaction & delivery
How is your TSP going to be able to react and deliver quickly and flexibly as contracts and other time sensitive documents have to be translated and reviewed? Reaction and delivery times are quicker and more reliable if the TSP has a globally connected team that is not limited by domestic business hours and experts in-house to shorten communication paths and allow for more flexibility. Teams are already in place and processes are standardised across all teams and offices, so that deliveries are reliable.
The ability, or rather the inability, to provide the highest security and confidentiality mechanisms as a merger is in progress has significant consequences for shareholders, the work force, and sometimes even the balance of power within an entire industry or segment. Robust data security is critical. That Non-Disclosure Agreements will be signed is a given; but what are the verifiable processes for data management, and who is accountable for this?
The scale and scope of mergers & acquisitions for a TSP means they are not projects for the feint-hearted – or ill-equipped. What’s critical is an ability to comprehensively manage the entire process: from project management (or vendor management), translation, QA, and document discovery to terminology management and I.T. solutions. It is not so much about delivering a document back on time in the relevant language, but how large volumes of information are managed during the transition from one language to another and between client and provider.
A key characteristic to the right Translation Services Provider, then, is scalable in-house teams in all core sectors of the translation management process. An extensive globally connected team which uses its own in-house experts to work within a secure data environment, deliver to set timeframes, and maintain output across large volumes.
Moving into 2018, China will continue to forge ahead with its M&A activity maintaining its firm vision for Made in China 2025. Whether the country can successfully navigate integration issues which lie ahead remains to be seen, but one thing is sure: when it comes to making it as a leading global economy, this Rooster is determined to rise in the pecking order.
For over 25 years, the approach of EVS Translations has been to grow and develop its own in-house staff, across all project critical areas. This ensures greater quality control and scalability for ambitious businesses operating on the global stage. At the heart of what we do is the art of translation itself and we continue to employ the best translator talent as permanent members of our in-house team. Whether it’s Chinese legal translation or multilingual translations to span the corporate spectrum, EVS Translations drives performance in translation.