How can Asset Management firms improve the flow of content to their audiences by accelerating creation, translation and delivery?
Working with all of the top 50 Asset Management firms globally has shown us that the complexity of rapidly delivery highly regulated content is a challenge shared by all. The landscape of content required to be compliant is vast, spanning registration documents, product information, sales and marketing materials, investor reporting, legal documentation, websites, mobile apps and more.
It is by no means an impossible task to bring order to the chaos though. One or more of the solutions below can get you on the path to a more strategic content approach that can better position you to achieving your business goals:
1. Create once, use multiple times
Many firms in the Asset Management industry have embraced technology to improve content workflows and manage global content challenges. This adoption has been driven by the need to centralize content and processes to address the increased expectations of customers and regulators for digital content. However, most Asset Management firms have not taken the next step to componentize their content to a granular level that enables rapid assembly of content according to different uses. For example, a single module of content could be used unchanged in a Key Investor Information Document (KIID), a prospectus, an annual report, a factsheet, a fund commentary, a proposal response or a piece of sales and marketing collateral. A structured content model like this can reduce translation and publishing costs by 30-50% so the ROI opportunity is clear.
2. Use machine translation wherever possible but don’t neglect the human factor
Machine translation is now realizing its enormous potential by automating the operational content challenges of Asset Managers. It is slashing the time to translate complex material on a global scale, reducing time-to-market for new products and locking down the translation process for sensitive, confidential and regulated content, thereby reducing risk too. The subject matter expertise of financially-trained and experienced translators frequently remains a critical component of this process though. Firms are now better placed than ever to optimize their translation resources, human and machine, across the content landscape.
3. Realize workflow improvements with a secure translation management system (TMS)
With multiple content managers, translators and reviewers, a typical manual translation workflow can involve dozens of steps, hand-offs and opportunities for error. A TMS brings efficiency and control to the management of multilingual content by eliminating manual steps, accelerating translations and improving quality. Better still, it can offer translation memory for storing and reusing repetitive content, terminology management for officially approved translations of brand phrases, logos and straplines and ease of integration to existing content repositories via supported connectors. The translation workflow can be made available to a wider audience via a simple business user-friendly interface while project management benefits from consolidated scheduling, costing and monitoring. Of course, all this is made available in a secure, compliant, centralized environment.
These techniques (and more!) are discussed in greater detail in our eBook, A New Global Content Operating Model for Asset Managers, which also offers an insight into how customers are proving the theory in practice. And don't forget to read part 3 of this series, where we look at the impact of regulation on content strategies.