The Client
Candriam stands for Conviction and Responsibility In Asset Management. A pioneer in sustainable and responsible investing since 1996, Candriam, an affiliate of New York Life, a Fortune 100© company, is a global multi-specialist asset manager with a team of more than 500 professionals. With more than €500bn assets under management (AUM), New York Life Investments ranks among the world's largest asset managers.
The Challenge
- Multiple localization providers
- Outdated localization processes
- Lack of localization KPIs
Candriam had multiple localization providers that could be sourced for different projects. This lack of consolidation made translation processes complex and hard to manage for their localization manager. A single person had to centralize all requests coming from internal teams, while meeting the different providers requirements and methods, which sometimes involved outdated workflows via email.
Combined with a lack of visibility on localization spending and project KPIs had all stakeholders involved feeling frustration. The challenges were identified and the goal was clear: to simplify localization processes and consolidate their whole localization strategy on a single partner.
The big “Aha” moment for Candriam was when Acolad’s Account Manager did a demonstration of our portal, a dedicated content and language ecosystem to manage all kinds of global financial content. The Candriam localization manager quickly understood how it could help them address their current localization challenges and sustain their growth strategy.
We’ve been working with Acolad for several years. When we looked to centralize all translation projects on a single partner, Acolad stood out in the tender for their service quality and flexible approach to customize their approach to our requirements.
Olivier Hautfenne, Operational Marketing Manager at Candriam
Why Acolad
Candriam was already working with Acolad since 2016, there was a good commercial relationship and solutions already in place, such as a dedicated translation memory and pool of language experts.
Our solid and secure structure combined with expertise in finance and in particular in asset management were also valuable factors for the client. In particular, we had already achieved a good understanding of the client’s business context, challenges and priorities.
Candriam also has a philosophy linked to sustainable investment, shared by Acolad, which invests enormously to support the profession of translator, through the Acolad Community and other initiatives.
The Solution
- A single localization partner – that’s Acolad
- Acolad Portal as the central hub for all global content projects
- Localization project management technology
- Localization project KPIs monitoring and reporting
- Online in-country review for internal subject-matter experts
From a translation and linguistic expertise, Candriam was already sure that they would like to centralize all localization projects with Acolad as a single partner, instead of maintaining a pool of vendors.
Working with the Acolad Portal brings fluidity to the follow-up of translation projects. With a single entry point for translation requests for the entire company, the impact in terms of time savings and user experience is undeniable.
Olivier Hautfenne, Operational Marketing Manager at Candriam
Types of documents
Funds comments
Financial articles
Legal documents
Financial presentations
Key projects
Candriam Academy
Financial newsletters
Weekly and monthly projects like the “coffee break”
RFP documents
Website localization
On the technological side, we were able to demonstrate that the Acolad portal solution would meet all their expectations: visibility on requests, reporting and in-country review (additional proofreading done in the portal by Candriam's requesters) and a global ease of use for all requesters in each department.
In the end, the clarity of our solution and the ease of use made the difference for change management and user adoption.
Conclusion
The Result
Increasing translation ROI through centralized translations: more content, more projects, more languages
- 5x more translation projects handled annually
- +100 translation projects completed each month
- Content from 2 to 5 languages
- 10% translation cost savings due to translation memory reuse
- 42 translation requesters across Europe
- Integration of Candriam’s language experts in Acolad pool
With the help of the Acolad Portal our business collaboration with Candriam became more efficient for both sides, as we gained better visibility on the translation project pipeline. We can manage over a hundred translation jobs a month, in 5 languages and for requestors all over Europe. The in-country review step helps our client to achieve perfect translations for every projects.
Olivier Hautfenne, Operational Marketing Manager at Candriam
Related Reading
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