Presence was ranked 100th largest Language Service Provider by research firm Nimdzi Insights. The companies listed in the report are ranked by revenue and operate in sectors including healthcare, business, government, legal, life sciences, financial, and education. The ranking and the report are the results of hundreds of hours of analysis and present information about important industry players that was previously unavailable.
Nimdzi Insights is a market research and consulting company that advises on business development, language services, language technology, localization programs, and strategic investing in globalization processes.
Last year we ranked 28th on the list of global interpreting leaders and as high as 2nd on the list featuring the largest European conference interpreter providers! And this year here we are among the famous and prestigious Top 100 Language Service Providers.
State of the language industry in 2022
We are now two years into the COVID-19 pandemic and Nimdzi’s analysis shows that many of the new trends observed in 2020 were still present in 2021.
At the beginning of the pandemic, LSPs (language service providers) had to act quickly to make sure they could adapt their business models to the new situation and meet their clients’ needs.
Faced with completely new types of requests, companies increased their virtual offering, added new online platforms, features, and services to their portfolio. At Presence, we restructured our internal operations, worked on integrations and fully embraced the innovation the market required. As the Nimdzi report rightfully points out, it was stressful and scary, but at the same time, very exciting. A new chapter has been kicked off by Covid-19, for us and for the labour market as a whole. The industry clearly has split into a before and an after 20 March 2020.
Now 2 years later, March 2022, the Nimdzi report shows that the language service industry is coming out of the COVID-19 crisis stronger than before. This is reflected in the strong growth experienced by the top 100 LSPs in 2021 through mergers and acquisitions, outside investment as well as via organic growth.
Like in previous editions of the report, Nimdzi reveals a number of key trends and challenges they have identified during their research. One of them concerns us particularly closely: Dawn of the Multilingual Meeting Provider.
Since the start of the pandemic, the request for online meetings has gone through the roof. Online platforms like ZOOM, MS Teams and Webex already existed, but the pandemic changed the meeting world forever as online meetings became the norm. No wonder that the well-known “ZOOM-fatigue” came up after a while. People wanted to make their online meetings more engaging. So the search for new features and interactive meeting formats began.
On top of that, accessibility and inclusivity were gaining more and more attention, both in companies and in government agencies. It was now easier than ever to make meetings available for everyone no matter their location.
This evolution suddenly brought language services into a top-of-mind position for new clients who had never had any need for them before. Requests for online meetings were booming, and connected services such as live captioning and document translations followed similar trends.
Because of this rapidly evolving business scene, clients need all of their needs for online multilingual meetings and events met by a single partner. They don't want to go to one company for their interpreting needs, another for translation, and yet another one for their general meeting organisation. What they need is a single provider who can handle all aspects of their event..
Here at Presence, this evolution has not taken us by surprise. We have long provided our clients with full-package services that go from written translations, note taking, subtitling and interpreting to the organization and coordination of multilingual meetings, corporate events, conferences and European works councils throughout Europe and beyond. Our strength lies in making the voice of our clients heard clearly and ensuring that their international communications and corporate events are of the highest quality.
Guess what…we are definitely here to stay!
Are you curious about what we can offer you and your business? Be sure to contact us for a chat without any obligation. Together, we will assess your needs and expectations and evaluate all the benefits of a cooperation between your company and Presence.