With its presence established in 75 countries and nearly 185,000 employees worldwide, BNP Paribas is a leading bank in the eurozone and a first-class player on a global scale. BNP Paribas provides services in corporate and investment banking, private banking and asset management.
Translation is a daily need at BNP Paribas Fortis. A wide range of content such as press releases, internal communications, financial reports and stock market articles must be published in up to 30 language combinations. Tight deadlines are a constant. As with many players in the financial industry, yesterday’s urgency has become today’s normality.
Prior to establishing an outsourcing agreement with Xplanation, BNP Paribas Fortis dealt with the following problems:
- An internal translation team with limited language coverage
- Managing a large team of external providers of translation and proofreading services
- Time-consuming administrative tasks such as purchase order and invoice management
- Workload management;
- Lack of infrastructure and tools to improve productivity and manage the constant flow of work (up to 40 projects per day).
Xplanation trained a dedicated pool of expert translators and linked the BNP Paribas Fortis internal team of translators directly to Xplanation’s Tstream® workflow. In this setup, all translators, both internal and external, have access to the same tools.
The BNP Paribas Fortis translation team is also involved in continuous improvement initiatives such as terminology discussions, quality meetings and process enhancements. The robust and fully secure translation workflow, which is backed up by expertise in all required fields, gave BNP Paribas Fortis the confidence to enter into an exclusive, long-term agreement with Xplanation.
By choosing Xplanation as its sole provider of translation services, BNP Paribas Fortis has reported savings of more than 40% when compared to the company’s previous model based on internal translators and outsourcing to multiple partners.