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“How-to” Guide to Localization Budgeting

how-to-guide-to-localization-budgeting

Report written by Miguel Sepulveda.

Calculating exactly how much it will cost to localize your digital content can be complicated and complex, as there’s no quick and dirty formula for estimating localization costs with any degree of precision. Quite to the contrary, creating an accurate localization budget requires an in-depth, detailed analysis of the materials to be localized, since there are so many factors that can affect the cost of localization that must be taken into account.

A business forecast can be a vital tool for localization budget planning and value creation, guiding actions by providing inputs needed to execute operational initiatives.

“What is business forecasting?

Business forecasting is a way of predicting the future — the future of narrowly defined economic conditions, that is. It combines information gathered from past circumstances with an accurate picture of the present economy to predict future conditions for a business."

Not all forecasts are built alike. However, we find that a great forecast has seven distinct attributes. In this article, we explain what factors should be taken into account when forecasting localization needs and creating your localization budget.

eight-variables-to-consider-for-localization-budgeting-and-forecasting

This has been a preview. The full report can be accessed online by Nimdzi Partners.

The full publication contains information about different variables that should be considered when forecasting localization needs and creating a localization budget. If you are not a Nimdzi Partner, contact us.

How will you show the value of your work to executives or clients if all the innovation you have to offer for your localization program is related to cutting costs? 

Having an operational budget is not enough anymore to be considered a strategic asset to your company.

 At Nimdzi, we have a team of professional experts that will help you identify the different areas and variables that you need to consider to ensure that you are on the right path to enable international growth. Shall we talk?

 

This report has been researched and written by Nimdzi's Globalization Specialist, Miguel Sepulveda. If you want to learn more about this topic or lay the groundwork for your own global expansion framework, reach out to Miguel at miguel@nimdzi.com.

 
27 January 2022

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