How Lingotek Uses AI to Optimize Vendor Management

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How Lingotek Uses AI to Optimize Vendor Management

Language Services Vendor Management is a complex management task. It requires vetting multiple language services providers (LSPs), requesting multiple bids and comparing different rate structures. It can include literally hundreds of projects to monitor and manage to ensure on-time delivery. Adding to the complexity, LSPs typically use  several different computer-assisted translation (CAT) tools and maintain multiple linguistic assets in various offline locations. How well translation is managed has a direct effect on the company’s globalization goals and its ability to execute an agile go-to-market strategy.

No one makes vendor management easier than Lingotek. Our groundbreaking artificial intelligence (AI)-driven app inside our industry-leading translation management system (TMS) is a cost-efficient localization platform that simplifies vendor management, enhances efficiency, accelerates delivery, and optimizes budgets and costs to reduce your translation spend.

What is Artificial Intelligence?

Artificial Intelligence (AI) is simply technology that learns. AI uses data and experience to perform tasks that would otherwise require human intelligence and effort. When applied to Vendor Management, it creates a foundation for trigger-based automation, rule-driven systems, and data collection.

How does Lingotek use AI to optimize vendor management?

Lingotek continues to spearhead innovation in the translation industry with a Vendor Management app that brings AI-driven automation and multilingual business intelligence to translation management. The entire process for managing vendors: vendor selection, tracking costs and spending, vendor performance is now easier and more automated. With this data, organizations can easily and repeatedly select vendors who provide the highest translation quality and who consistently deliver jobs on time.  

Integrated & automated vendor selection

The Vendor Management app simplifies and consolidates the process for requesting quotes, setting rates and pricing, choosing vendors, managing deadlines, tracking spending, and measuring translator quality and performance. The dashboard displays all of the information needed for tracking and evaluating which vendors are providing the highest quality translation and meeting deadlines. This gives project managers insights to better manage workloads and resources for maximum throughput.

  • Automatic vendor assignment based on language, industry, timeline, and more.
  • Automated bid requests, rate charts & invoicing.
  • Monitor costs and billing information within the TMS.

Centralized tracking of rates, costs & spending

The Vendor Management app automates many of the steps required for creating a language services purchase order and to closely track translation spending. The app also tracks the leveraging of translation memories (TM) to gauge the efficient reuse of linguistic assets across the enterprise. At-a-glance rate charts for quick reference of:

  • Integrated cost reporting inside the TMS.
  • Total translation expenses by date, job, or vendor.
  • Aggregation of data to simplify invoice creation.

Automatic cost calculation

Lingotek’s vendor management includes auto-calculation of costs, even when specific jobs have been skipped or cancelled. A project manager can manually skip or cancel a phase, target, or entire document. 

With the active monitoring offered by our Intelligent Workflows, jobs can also be auto-skipped or auto-cancelled in order to ensure on-time delivery. When this happens, our AI-driven Vendor Management system is able to proactively alert vendors of the skipped and/or cancelled job, ensure that additional work cannot be performed on those skipped and/or cancelled jobs, and then automatically calculate the the costs for the work that was completed before the job was cancelled. 

This makes invoicing a breeze, as project managers and vendor managers no longer have to worry about notifying vendors of changes made to the project mid-stream, or figure out how much work was done after the fact in order to manually calculate their costs.

Intelligence & insight to optimize your supply chain

Get more data-driven insight and control over your localization supply chain. The dashboard displays tracking and evaluating information on vendors, so you can easily select vendors who provide the highest translation quality and consistently deliver jobs on time. This gives you much-needed insight to better manage workloads and resources for maximum throughput.

  • Vendor-specific intelligence.
  • Evaluate vendor performance & quality through SLA compliance metrics.
  • Monitor project delivery & efficiency by vendor.
  • Get key metrics on costs, turnaround time, word counts, missed deadlines.

As the technology improves, we recommend that all providers review their operations to learn where they could take best advantage of AI.

--Common Sense Advisory, “The Journey to Project Management Automation”

Discover the Benefits of Lingotek’s AI-Driven Vendor Management

The new Vendor Management app gives enterprise localization managers, vendor managers, and project managers revolutionary new tools for managing multiple language services providers (LSPs) and projects. Automating vendor management provides critical operational efficiency to enable more scalable globalization strategies and to optimize your localization supply chain to create a more cost-efficient localization network.

Lingotek’s AI-driven Vendor Management can reduce the need for project managers to perform routine, automated tasks. Instead, they can use that time for solving problems that AI can’t solve. When you implement better process automation, that leaves time for project managers to perform tasks that are more valuable to the organization. They can focus their time on exception management--problem solving and responding to urgent issues.

Do you have questions or want additional information about how Lingotek's Vendor Management app makes vendor management easier than ever? Contact us US +1(801)331-7777 or outside the US +44 (0)1628 421525, send an email to sales@lingotek.com, or go to our website: www.lingotek.com.

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