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Happy 5-Year Work Anniversary to chị Hiền!

Happy 5-Year Work Anniversary To chị Hiền!

It’s a remarkable day at GTE Localize as we come together to celebrate chị Hiền’s journey with us. Over the past five years, she has proven to be a trusted Accountant of the company.

 

From the early days when GTE Localize had just 10 staff members to now, with a workforce of nearly 40 at our “new house”, chị Hiền has been a pillar of support and expertise. To mark this occasion, the company threw a party, and it was heartwarming to see chị Hiền surrounded by colleagues who have been with her every step of the way. Chị Hiền also reminisced about both memorable and forgettable moments with our team. The atmosphere was filled with laughter and joy that truly reflects the GTE Localize spirit.

 

Anh Linh on behalf of the company presented chị Hiền with a crystal achievement award as a token of our appreciation for her contributions to GTE Localize. It symbolizes the respect we hold for her and the faith we have in her future endeavors with us.

 

Chị Hiền, thank you for your hard work, and we look forward to the many more milestones we will achieve together in the years to come.

 
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H1-2023 Revenue data & Highlights

1. H1-2023 Revenue

Revenue is not simply a monetary figure. It quantifies our growth and measures our value added to the client’s business. In this sense, we have a very good first-half of 2023:

  • Almost USD 1mil has been made, which is 104% of our target.
  • A new striking monthly revenue record at VND 5.05 bil in April.
  • 46% up compared to H1-2022

Our MKT & Sales contributed VND 5.36bil, accounting for 23% of total rev (215% of Sale’s target). PM & AM delivered the rest 77% – VND17.01bil (117.5% of their target). Very nice job, guys and girls!

image001But behind these very positive data, there’re still things to do. The high revenue came mostly from some big projects (both LSP & EC). We have not gained any new strategic account with significant monthly revenue yet. As I’m writing these lines, the July rev is expected to be as low as the break-even point. A good H1 also puts the pressure on us to overcome our own performance in H2. 

Overall, we have reasons to feel good for the past half year. But stay alert for the 2nd half.

2. One step higher in the value chain

During the last few years, we have been trying to move up in the value chain by working directly with end-client, rather than just being a sub-contractor for other LSPs. H1-2023 marks a new milestone in this journey. For the first time, the revenue from our direct clients has outgrown the revenue from LSPs. More than half of our revenue, or 53%, is now from direct clients (EC, EM & ES of the below chart). While the revenue from LSP is still growing itself, it now makes up only 47% of our total revenue. 

image002

It is important to be less dependent on LSP clients. During hard times or under new supplier strategies, LSP clients can simply switch from agencies like us to in-house and FLs. We may lose clients without doing anything wrong. A relatively safe ratio for us is less than 30% of revenue coming from LSP clients. Let’s keep working on this goal. 

3. Macroeconomics & industry trend

We hear the news about the global economic downturn everywhere. The “AI” buzzword has flooded our social media. But no one can tell exactly what will happen to our industry, and what we can do from our position as a company. FYI – here’re my personal opinions to prepare for GTE:

Economic downturn

It’s closer than we think. One day, AM told me that the PIC from Meta is no longer working so we can’t ask for their testimonials. The other day, I was reported that client RedHat laid off almost their entire L10n department. And many other stories, directly or indirectly, linked to our clients and us. There’re a few actions we can take:

  • Think positively. The pressure of the big Corps to cut costs may result in their shift from big LSPs to smaller ones like GTE.
  • Stay resilient. Any economic crisis will eventually end. Survivors from the crisis have more chances to grow. We keep preparing for future growth despite the current negative outlook.
  • Try to diversify our client base, both in terms of industry and size. If a client industry/size is down, another is likely to be up.
  • Find ways to be effective with cost. I’m not a fan of cost-cutting but being efficient in the cost structure and fully utilizing human capacity to avoid waste are necessary.
  • Depend less on LSP clients, as analyzed above.
AI vs Human
  • AI is real, but it takes more time to measure AI effects on human, L10n industry, and our company. Also L10n is a very fragmented industry with thousands of suppliers and millions of buyers across the globe, making it unlikely for AI to transform our industry overnight. Wait for the AI hype to die down first.
  • GTE is too small to be proactive, such as developing a new AI-integrated tool or technology. Our strategy is adaptive.
  • Just like past lessons with CAT tools & MT, our industry expects (hopes) that AI will be a friend, not a foe. We may need to switch from high-unit-price services like TE, to lower-unit-price services like MTPE. But the volume (total demand for L10n) should be bigger. Before the CAT tool era, only the biggest Corps can afford multilingual website by paying for all as New word. Then CAT tools make translation accessible for medium companies by offering discounts on reps and fuzzy words. What if every single SME can buy L10n service at an even lower cost fueled by AI? Definitely not our industry’s doomsday.

These data & information were shared to help you gain an overall picture of your work and to promote our transparency. Do NOT disclose them to external parties unless you have written approval from the MD.

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“Meet me in my language” – 2023’s holiday fundraising campaign

"Meet me in my language" - 2023's holiday fundraising campaign

Meet_me_in_my_language_webpage

“Meet me in my language” is 2023’s holiday fundraising campaign with TWB Community and CLEAR Global​.

As a partner of CLEAR global, we support the organization to make communication more accessible for more people. “Meet me in my language” is the campaign to make more voices be heard. Together, we can help the world’s most marginalized people protect themselves from climate change, know their rights, stay safe in crisis and connect with one another. We are supporting the campaign, will you? clearglobal.org/donate

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Happy 5-Year Work Anniversary to anh Tony!

Happy 5-Year Work Anniversary To anh Tony!

Happy 5-Year Work Anniversary

It has been half a decade since anh Tony joined GTE Localize and became an essential part of GTE Localize’s journey and success. We are eternally grateful for the dedication and passion he has shown. 

We celebrated his 5th work anniversary with a mini party full of food and drink at the company. Thank you anh Tony for being with our team. 

At this event, anh Brian on behalf of the company gave anh Tony a crystal achievement award and some other gifts. Let’s guess who is the receiver in the picture since both of them look so happy!

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The Most Beautiful Moments in Our Thailand Trip 2022

The Most Beautiful Moments in Our Thailand Trip 2022

Thailand is an awesome destination for many reasons. Tropical beaches, exotic islands, food, big city life in Bangkok, and so much more.

Top Memorable Things

GTE Localize’s first trip ever to Pattaya and Bangkok comes with various beautiful moments and memories. Here are the top memorable things in this land:
– Traditional Thai massage: the treasure trove of relaxation and wellness experiences that many team members love.
– Thai royal family & Thailand Kings stories (Rama V, Rama X, Rama IX)
– The nightlife at Pattaya walking street: various colorful bars & pubs, beautiful ladies, live music, etc.
– Alcazar Show at Pattaya: Theater presenting dance shows with colorfully costumed transgender performers & high-tech lighting.
– Various shopping places in Pattaya and Bangkok: Pattaya floating market, Big C, the center world, etc.
– Thailand foods: Eating Thai food is a huge part of our trip to Bangkok and Pattaya. Thai food has diverse ingredients, complex spices, and exotic herbs.
– The land of temples: It’s no surprise we can see temples in Thailand anywhere we go.

Pattaya

After arriving in Thailand, we visited Buddha Mountain (Khao Chi Chan) and Pattaya floating market.
Khao Chi Chan is a famous place as it features a giant sculptural image of Lord Buddha erected on a giant cliff, it is made of 18 tons of gold. The landscape is beautiful so we took a lot of pictures at this place.
At Pattaya Floating Market, we enjoyed the beautiful scenery of the place, had some Thai foods, and be bedazzled by the shops entirely made of teak wood and some cultural performances.
At night, our team experienced the traditional Thai massage and discovered some Thai street foods.

Pattaya +

The best place on this Thailand trip is the beach. In the morning, we came to Coral island which has a gorgeous beach with huge coral reefs. We have a lot of fun, images, and activities out there.
At night, some members came to the Alcazar Show while some members enjoyed Thai massage again, and others went to the Pattaya walking street.
The walking street is an attractive place for every team member. We came there for the food, nightlife atmosphere, bar & club, etc. a Tony, Alex, and a Bruce had fun at the beach and had some beers at a club. The VM team came to a bar enjoying DJ’s EDM music. Some PM, Marketing, and Accounting members went to a bar requesting some live songs from the bar’s singer. It took 20 baht to request a song.

Bangkok

Our group arrived in Bangkok and went to two famous Thai temples. Then we had a boat trip on the river of Bangkok.
We had dinner at Baiyoke hotel Bangkok, the tallest building in the city and had a chance to see the dynamic highest views of the city and beyond while enjoying the ultimate in delicious foods from its restaurant.
It is a must to go shopping in Big C & The center world. With various local products at affordable prices, we selected many kinds of stuff and waited in the long line for payment.
At the midnight, some team members came to Chinatown seeking Thai foods, bar and had fun there.

There was a battle of finding Mango sticky rice on the last day of the trip. We came around the airport and finally accepted to buy the Mango sticky rice at a high rate (180 baht/ box).

Our team

Here are some pictures of our company members. 

Thailand foods

Here are some Thai foods such as Tomyum, mango sticky rice, etc. 

The umbrella story

This is not The Umbrella Academy on Netflix. This is the story of a Brian’s umbrella. Our captain did not go on the trip to Thailand but his umbrella did. The umbrella experienced beautiful moments in Thailand as it went to visit a coffee shop, a restaurant, a 7-eleven store, a hotel, an elevator, etc.

Wrap up

-Thank everyone for joining the Thailand trip.

-Thanks to the admin team for planning and organizing the trip.

-Special thanks to c Nguyen for your supporting, caring, and guiding us during the trip.

-Special thanks to Van Anh and her Mickey for many awesome pictures.

-Hope a Brian and other team members can join us on the next trip.