Why Smart Companies Invest in Translation?

Is translation optional? Not if you’re determined to succeed. And if you want your business to actually grow, you have even more reasons to mind your language(s). This brief explains why translation is mission-critical for the success of any company that does business across borders or targets customers within its own domestic multicultural market. If you don’t invest in translation, you can’t reap the benefits, but chances are that your competitors will.

The Bottom Line and How Translation Boosts It

Our research repeatedly shows that translation enables companies to expand their customer base and increase revenue:

  • Translation gives you access to more customers. Many customers simply won’t buy your products unless you market to them in their language. How many are you missing? Our study showed that 72.1% of international consumers spend most or all of their time on sites in their own language. The 11 languages that allow you to reach 85% of the world’s online wallet are English, Simplified Chinese, Spanish, Japanese, Portuguese, German, Arabic, French, Russian, Korean, and Italian. And each language you add takes you further into any market where it’s spoken.
  • Translation unlocks global revenue from those customers. Overall economic growth has stalled in North American and Western European markets. As a result, companies headquartered in those regions are finding it a requirement, rather than an option, to offer additional localized versions of their products and services as quickly as possible in order to attract customers with rising incomes in emerging and frontier markets. Are you one of the many firms reporting decreasing domestic profits, while your global revenue is climbing upward? If not, you better find out why.
  • Translation enhances your existing market presence – even at home. Do you own 100% of any market that you’re already in today? Doubtful. But you can get closer to penetrating the markets you’re already in by adding more languages. Even just one language – such as Spanish in the United States, Polish in the United Kingdom, or Turkish in Germany – can help you reach customers in the locations in which you’re already spending marketing dollars, making that money go even further.
  • Translation costs very little. Your investment in languages will be insignificant compared to the international revenue it will enable. After all, the average cost per word to create original content is US$0.65, while the average cost per word for translated content is only US$0.10. Your financial and procurement teams will be on-board once they recognize that millions of dollars of additional income can be generated through a very minimal investment.
  • Translation doesn’t have to be difficult. If you’re concerned about losing control of your content when it moves into other languages, rest assured that there are professionals out there to help you. Recruit the talent you need to build a great translation team from a vast team of professionals in this $26 billion industry. Or outsource the function to professional language service providers (LSPs). The bottom line is that there is no reason to reinvent the wheel – plenty of companies (including competitors) have already learned the most painful lessons on your behalf.
  • Translation makes it easier to win against competitors. You can leverage your investment in global markets based on a defensive or offensive strategy. Either way, the goal is to prevent challengers from dominating markets that could have a negative effect on sales, revenue, or overall brand perception in other markets, including the one at home.
  • Translation provides your brand with a consistent voice. Over the last decade especially, firms have learned that consistent branding with local flavor represents a corporate asset with a hard dollar value. It now requires at least 16 languages if you want to be among the best at remaining competitive online.
  • Translation allows you to protect and enhance your global reputation. If your organization is not set up to implement every product or service launch around the world, then you risk relinquishing control to your customers. With machine translation readily available for many languages, people buy, write reviews, and provide feedback on your offerings whether or not you officially launch in their market.
  • Translation is often required by local markets anyway. You may be barred from selling your product or service unless it has been translated, and perhaps even adapted to meet local business requirements, in countries that have language compliance laws such as Belgium and Canada. Similar rules will apply for regulated industries such as energy, financial services, life sciences, telecommunications, and utilities. And even if you’re not in a regulated field, you may be required to translate in order to support customers who are.
  • Translation is simply what smart executives do. It’s not enough for you to merely mandate that your company be #1 in its top five markets around the world. To be able to earn globally over time, you must invest consistently in local markets and the internal teams to support them (see “The Global Business Leadership Manifesto,” Mar11). The key is to create a global presence through building many strong, local presences, which includes delivering and supporting products in the right languages that are adapted to the right level.

English may be the language of business, but it’s not the language of your local consumers. The demand for language directions such as Zulu<>Chinese and Turkish<>Chinese is increasing as new trading agreements are established. According to the International Monetary Fund, Brazil, Russia, India, China, and South Africa (BRICS) alone will account for as much as 61% of global growth over the next three years. Currently, these five countries comprise 42% of the world’s population and 18% of its GDP. And right behind them are Indonesia, Mexico, and Turkey as fast-growing economies with middle classes whose purse strings are loosening and whose wallets are expanding. Now is the time to put your international business strategy in order, supported by an appropriate translation plan, to allow your team to support local prospects and customers according to their expectations.

Verztec is a leading ISO 9001:2008 Global Content Consulting Services Company. Verztec assists companies around the world to design, develop, localize and publish their global communication messages in over 60 languages across various channels. For more information as to how Verztec may partner and assist in your next localization project, kindly contact us at info@verztec.com or call +65 6577 4646 now!

*Sources: Why Smart Companies Invest in Translation: 1 January 2012 by Common Sense Advisory, Inc.

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Reaching New Markets through Transcreation

How do you reach customers who buy your products and services for completely different reasons than those in your home market? At some point, you will probably have to recreate or adapt your messaging and content through transcreation, a process whereby new content is developed or adapted for a given target audience, rather than translated directly from the original version.

Images speak louder than words when it comes to defining transcreation. The examples that follow show how a pharmaceutical manufacturer markets its birth control product differently to different groups – U.S. English speakers and U.S. Latinas. The tagline in English relates to convenience, while in Spanish it relates to freedom of choice (see Figure 1 and 2). Content is displayed differently – safety information plays a more important role in the Spanish sub-menu to alleviate fears about infertility that are more prominent in this demographic.

Figure 1: Pharmaceutical Transcreation in Practice: U.S English Website (Source: Pfizer, Inc.)

Figure 2: Pharmaceutical Transcreation in Practice: U.S. Hispanic Website (Source: Pfizer, Inc.)

Confusion surrounds the term and the concept of transcreation across all groups that we interviewed and surveyed. As such, the definitions vary widely. Most people agree that the term “transcreation” is the amalgamation of the words “translation” and “creation,” or perhaps “creative translation.” Here are some other basics related to the definition of transcreation:

  • The history of the term. Some trace the term’s roots to the computer and video game industry, as companies struggled together to take games from one market to several. People discovered that translating only the words was insufficient to convey an enjoyable and comparable user experience. They started changing images and even modifying story lines in an attempt to transform the content in very creative ways. The process was different than the more straightforward localization process being applied to business application software at that time.
  • The current definition. The term “transcreation” is now more commonly applied to marketing and advertising content that must resonate in local markets in order to deliver the same impact as the original. The term may be applied when either a direct translation is adapted, or when content is completely rewritten in the local language to reflect the original message. Most often, transcreation includes a hybrid of new content, adapted content and imagery, and straightforward translation.
  • Synonyms. Other terms often used to convey the same concept include “marketization,” “cultural adaptation,” “multilingual copywriting,” “copy adaptation,” “marketing translation,” “international copy,” “adaptation of marketing materials,” “creative international marketing,” and “transliteration” (incorrectly applied).

Typical projects that require transcreation include web campaigns that don’t attract customers in other markets, ads that are based on wordplay, humor that is directly related to just one language or culture, or products and services that need to be marketed to diverse demographics within the same market.

Transcreation provides the freedom to address the cultural gaps. It allows the intent of the message to be communicated so that it is positively received by the intended audience, without requiring the local version to remain fully faithful to the words or images used in the original version.

Verztec is a leading ISO 9001:2008 Global Content Consulting Services Company. Verztec assists companies around the world to design, develop, localize and publish their global communication messages in over 60 languages across various channels. For more information as to how Verztec may partner and assist in your next localization project, kindly contact us at info@verztec.com or call +65 6577 4646 now!

*Source: Reaching New Markets through Transcreation: March 2010 by Common Sense Advisory, Inc.

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August Free Movie Voucher Giveaway!

Verztec is back with good news! Visit our Facebook page and answer to a simple question and win yourself a pair of movie vouchers to the most sought-after blockbuster this year!

What are you still waiting for? NOW! 5 pairs of movie vouchers up for grabs!

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Singapore needs to reinvent itself to progress: PM Lee

By Olivia Siong dated 26th August 2012

SINGAPORE: Prime Minister Lee Hsien Loong, in his National Day Rally speech in Mandarin on Sunday, said Singapore will need to seize opportunities and reinvent itself to progress in the next 20 years.

Singapore’s situation is similar to other East Asian economies — like Taiwan, Hong Kong and South Korea — whose era of rapid growth is over.

Singapore, like the others, is in search of new strategies and formulas.

While many of the East Asian economies are anxious about their future, Mr Lee said Singapore is better off than many others.

Mr Lee said people from China, Hong Kong and Taiwan have sent study groups to look at Singapore’s social and economic policies.

But as Singapore evolves, Chinese Singaporeans should not neglect their culture.

The prime minister said he supported recent proposals to set up a Chinese Cultural Centre and a Singaporean Hokkien Huay Kuan Cultural Academy.

Mr Lee said: “Our Chinese community has always been concerned about the preservation and promotion of culture and tradition.

“Chinese culture is an important pillar of Singapore culture. It is an emotional anchor and moral compass for many Singaporeans. We should preserve our cultural roots, lest we lose ourselves in this ever-changing world.”

Mr Lee said traditions and culture help strengthen the sense of identity, and the Chinese language here has local characteristics.

He said: “Recently, a National Day documentary shown on our local TV channel had some translation errors. For example, National Servicemen was translated as “national soldiers”, and HDB flats became “national housing”.

“This drew many criticisms. The mistakes were clearly made by foreign translators. The translators were competent in Chinese, but they did not know our local context or terms.”

Prime Minister Lee said Singaporeans have a unique culture, but this meant that new immigrants must work harder to integrate.

Mr Lee added that Singaporeans understand the local norms for acceptable and unacceptable behaviour. But new immigrants need time to learn and understand the Singapore mindset.

Mr Lee also encouraged everyone to stay positive, lead active lives and be self-reliant.

He said while it will be easier for younger Singaporeans to adapt, it is also possible for older people to keep up, though help must continue to be provided.

Mr Lee cited a few existing examples, including training courses and upgrading programmes offered by the government and NTUC, to allow older workers to acquire new skills and improve their job prospects.

Article reference source from Channel News Asia

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Verztec Connexions – August 2012

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Importance of Website Globalization

Website globalization may have become a mainstream activity, but best practices are still not recognized or widely deployed. Site owners looking to improve their street cred on the international highways and byways need to look carefully in order to discern good practices from bad. By studying the top-scoring global websites, companies that hope to be world-class practitioners can learn today’s best practices, prepare for tomorrow, and stay ahead of the herd.

As a result, many firms still debate whether it makes business sense to globalize their online marketing, online commerce sites, and call centers. Nonetheless, research dating back to 1998 indicates a high propensity for people to buy in their own language. It’s clear that website globalization has become a mainstream business activity today; in future years what is now a low curve in the below graph will likely become a straight diagonal line from upper left to lower right.

Figure: Number of Languages Found On the Top 1,000 Global Websites

Most people prefer buying in their own language

More than half of the web users who purchased online (52.4%) buy only at websites where the information is presented in their language. More than 60 percent of consumers in France and Japan buy products from localized sites. In terms of language competence, people with no or low English skills were six times more likely not to buy from Anglophone sites than their countrymen who were proficient in English.

Language significantly influenced more important purchases

The vast majority (85.3%) feels that having pre-purchase information in their own language is a critical factor in buying insurance and other financial services. Conversely, just 45.8 percent thinks that it is important to buying clothes on the web. The more valuable an item, the more likely it is that someone will want to read about the product and buy it in their own language.

It takes more than local language to sell something

Over two-thirds (67.4%) of web users visit English-language sites monthly or more frequently, but just a quarter (25.5%) regularly purchase goods or services at those properties. Even with information available in the local language, the inability to use their own credit cards or currency stymies many international buyers. Converting those international browsers to buyers requires translation plus improved site performance and commercial enablers such as credit card and country-specific transaction support.

Global brands trump language and price

Half of the web users (50.8%) would buy a global brand over a local one, even without translated information. Looking at individual countries, just Germany and Japan fell below the 50-percent mark. However, having information in their own language was more important to 56.2 percent of the global web users than a low price.

Verztec is a leading ISO 9001:2008 Global Content Consulting Services Company. Verztec assists companies around the world to design, develop, localize and publish their global communication messages in over 60 languages across various channels. For more information as to how Verztec may partner and assist in your next localization project, kindly contact us at info@verztec.com or call +65 6577 4646 now!

*Sources:
• What LSPs Need to Know about global Website Trends: 14 April 2011 by Common Sense Advisory, Inc.
• The Word’s 100 Best Global Websites in 2011: March 2011 by Common Sense Advisory, Inc.
• Can’t Read, Won’t Buy: Why Language Matters: September 2006 by Common Sense Advisory, Inc.

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In Praise of Memorization: 10 Proven Brain Benefits

By Tim Handorf

Memory learning catches a lot of flack these days. Informed educators are often quick to write off rote memorization as an unnecessary and even harmful exercise, instead preferring to teach creativity and problem solving. While we agree that creative, analytical lessons are a great way to learn, it’s worth pointing out that memorization can still play an important role in learning, no matter your age. Read on to find 10 great benefits of memorization in school and beyond.

Memorization trains your brain to remember:

Although memorizing lines of poetry may not feel particularly essential, it’s an important task for training your brain to remember things. This type of memorization task exercises your brain, giving it strength to retain more information. Memorizing passages or poetry over time (rather than cramming) is a very effective way to make your brain more receptive to remembering.

Memorization challenges your brain:

Just like when you work out at a gym, consistent and challenging exercise is the key to staying brain fit. Challenges like memorization are a very useful way to work out your brain for better mental health.

Rote learning improves neural plasticity:

Irish researchers found that through extended exercises in rote learning, learners can actually recall more information overall. Rote learning benefits the hippocampal foundation, a key structure in the brain for episodic and spatial memory in humans. In their group of participants aged 55-70, these researches noted that repeated activation of memory structures promotes neuronal plasticity in the aging brain.

Nursery rhymes teach rhythmic patterns:

Repeating the same nursery rhymes over and over again to young children offers memorization by repetition, a very important memory tool for kids. As parents recite familiar rhymes, children learn rhythmic patterns, teaching them balance and symmetry.

Memorization offers a mental gymnastics exercise:

Those who obsess over sports statistics should be encouraged: neurobiologists believe that “mental gymnastics”, like remembering facts from sports history, can make your brain more quick and agile. Although researchers have yet to find a direct link, they do believe that there’s a plausible connection between sports score obsessions and a more flexible mind. Plus, as UCLA neuroscientist Arthur Toga points out, an exercise like reading sports scores “gets a lot more circuits involved” than, say, watching sports on TV.

Knowing frees up brain power:

Students who “just know” equations, functions, definitions, and other memorized facts can save brain power; brain power that can be used for other things. If foundational concepts and information are grasped, students can move on to bigger and better things, rather than spending time looking up words or doing simple math in a calculator.

Memory exercises help students practice focus:

As an adult, it may be hard to remember what you ate for dinner last night, but you just might remember the Gettysburg Address you had to recite in grade school. Why is that? The answer is focus. As students spend time memorizing passages, tables, anything at all, they learn to find focus. Educators have found that students who were required to memorize from an early age often go on to have more capacity to focus on educational tasks as high school and college students.

Memory skills are essential to learning new concepts:

Weber State University student researcher Paula Fiet has delved into a working memory research project, discovering that underdeveloped short-term memory may be to blame for some students’ problems with mastering concepts in math and reading. Fiet explains, “you need working memory to learn,” or to hold enough information in your mind to comprehend what you’re learning. Fiet’s research has shown that “children with poor working memories don’t get enough information in their minds at one time to make sense of what is coming in.” Students who complete exercises aimed at building short-term memory have seen improvement in their working memory and capacity to learn.

Working memory is important for creativity:

Just as a strong working memory is good for learning, working memory is important for creativity as well. Dutch researchers have found that semiprofessional cellists were able to perform more creatively with a higher working memory capacity. But under cognitive load, participants performed worse on a creative insight task. Students who learn to focus and develop their working memory through memorization tasks can free their mind to become more creative.

Memory training can stave off cognition decline:

Memory-forming can become a healthy lifelong habit. Researchers from the National Institute on Health and Aging have found that adults who went through short bursts of memory training were better able to maintain higher cognitive functioning and everyday skills, even five years after going through the training. Practicing memorization allowed the elderly adults to delay typical cognitive decline by seven to 14 years. Students who start practicing memory training now can stay sharp in years to come.

Article reference source from Best Colleges Online

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From Cincy to Singapore: Why P&G, Others Are Moving Key HQs

By Jack Neff

While Corporate Hubs Stay Put in West, More Marketers Are Relocating Major Divisions to Capitalize on Fast-Growing Regions.

Call it the post-colonial era of marketing.

After years of ruling their global empires from headquarters in the U.S. or Western Europe, companies increasingly are relocating headquarters and top marketers for key brands outside their home borders, often to faster-growing developing markets. And while expatriate executives often run these operations, many of them are putting an emphasis on drawing marketing talent from overseas markets as well.

Take Procter & Gamble Co., which this year has moved the top general and marketing executives for brands representing nearly half its global sales to offices outside the U.S.

For instance, the global headquarters for P&G’s beauty and baby-care business, including its biggest brand, Pampers, moved 9,600 miles to Singapore from Cincinnati earlier this year. The global headquarters for the company’s flagship Tide brand and the rest of the fabric-care business headed to Geneva early this year.

While the Geneva shift had more to do with the preferences of new Group President-Fabric Care Giovanni Ciserani, the moves to Singapore were motivated by a need for P&G brands to be closer to the growing number of consumers in Asia, said spokesman Paul Fox. He stressed that this doesn’t mean Singapore saw a huge influx of personnel from Cincinnati headquarters — only about 20 in the case of each unit, albeit 20 highly compensated and influential executives.

P&G isn’t the only company making such moves.

“We have important management centers for our brands both in Paris and New York, but we’re seeing more and more marketing teams organized and growing in China, Brazil, Japan [and] India,” said Marc Menesguen, managing director-strategic marketing at L’Oreal. “We see that bringing amazing innovation power into the whole process.”

Mr. Menesguen, appointed in 2010, was charged both with spreading best practices from around the world more broadly throughout L’Oreal and preparing the company for a digital marketing future. As he sees it, having more marketers outside the company’s traditional developed-market hubs helps with both goals.

“The billion additional consumers [L'Oreal hopes to reach in 10 years] will be digital natives,” he said. “We know it.”

Many marketers have long had key business units headquartered outside their home bases. Unilever, for example, bases its ice cream business in Rome and Lipton tea in Paris rather than at corporate headquarters in London, a spokesman said. But Singapore has become a location for a growing number of Unilever executives; in fact, the company now has more people based there than it does in London.

An executive of one packaged-goods company referred to Singapore’s nickname, “Asia Lite,” noting that the city-state has a heavily Western-influenced culture and lifestyle that makes it an easier sell for U.S. or European executives, particularly those with families.

While Singapore works as an Asian headquarters, most U.S.- or Europe-based multinationals are placing their China headquarters in China. P&G has long operated its Chinese business from Guangzhou, but Shanghai is becoming the headquarters of choice for marketers serving China, said Marc de Swaan Arons, a veteran of Unilever and now chairman of the consultancy Effective Brands.

Jiri Kulik, senior VP of Reckitt Benckiser’s Latin America operations, noted that RB is focused on putting marketers in key countries within the regions—such as moving headquarters for China from Singapore to Shanghai. While he initially ran Latin America from Miami, he’s relocating RB’s Latin America headquarters to Sao Paulo.

“It’s very nice living in Singapore,” he said, “but you are not close enough to the Chinese consumer.” By the same measure, he said, “I really struggle being in Miami and being in America trying to sell to a Brazilian consumer. This is the fundamental reason we decided to make this change.”

Another good reason for such moves is to reflect the changing global population. “We are staffing up people in the developing markets and moving much more talent from the developed to the developing geographies,” Mr. Kulik said.

RB’s annual report noted, “Currently we have 36% of our management focused on the 6 billion consumers in emerging markets, versus 64% focused on the 0.9 billion consumers in developed markets. This will shift significantly and we have located our leadership of these areas in the respective market, effective Jan. 1, 2012, so that we can be even more responsive to consumer and customer needs and faster in execution.”

Johnson & Johnson has even moved the global headquarters of its baby-care business from the U.S. to Shanghai, partly because that’s where Cindy Lau, the executive who was named to run it last year, lives.

Packaged-goods marketers are leading the charge to disperse marketers globally, particularly in developing markets, said Mr. de Swaan Arons. But he also sees growing examples of such moves by financial services, pharmaceutical, automotive and electronics marketers, including General Motors, Ford and Nokia.

“We are at a turning point, which I call post-colonialism in marketing,” said Mr. de Swaan Arons.

One reason is that the quality of marketers available from developing markets “has improved so dramatically over the past two decades,” he said, while companies also have ramped up global marketing training programs. Those make the university training that young marketers receive elsewhere less relevant.

Article reference source from Ad Age Global

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Verztec Consulting Pte Ltd is honored to win the Prominent Award of the Year in SME1 Asia Awards 2012

Singapore July 20, 2012

Verztec Consulting Pte Ltd (Verztec) is honored to receive the Prominent Award of the Year in the prestigious SME1 Asia Awards 2012. This award recognizes successful Small and Medium-sized Enterprises (SMEs) in Singapore and Asia that are socially responsible.

Honored to companies in recognition of their commitment and good efforts in the economical, social and environmental sustainable aspects, the awards of the Prominent Category are presented to companies which have endured the growing pains and are prospering in their first 10 years of operations. Verztec won the Top Winner Award in this Category.

“We are honored to have received this Award and I would like to extend our special thanks to all our employees, partners and customers for their continued support. To be honest, with all the uncertainties happening around the world, the last few years have been quite a ‘roller-coaster’ challenge for me and my team. However, we continue to pursue in our purpose and what we truly believe in – and that is to work hard and serve our customers to the best of our abilities, and to play our part in contributing to the less fortunate in the countries we operate in, in every little ways we can.”- Nicholas Goh, CEO of Verztec Consulting Pte Ltd

Life Community Services Society (LCSS), the official charity partner of Verztec Consulting Pte Ltd is a non-profit organization that supports less privileged children and families who are mostly from the lower income financial background and children whose parents are incarcerated.

“Verztec is an excellent Corporate Citizen and has been a valuable partner to Life Community Services Society. Nicholas has gone the extra mile in helping us to advance our cause for the needy children and youths-at-risk. Congratulations! We are very proud of your achievement!” – James Wong, CEO of LCSS.

Other than Life Community Services Society (LCSS), Verztec also supports the Intercultural Theatre Institute (ITI). ITI is an independent theatre school for contemporary artists, conceived as a unique and unprecedented enterprise in theatre training, social and cultural interaction and human understanding.

“Nicholas has been a strong supporter of ITI for more than five years. Verztec has provided multilingual translation for events like ITI’s inaugural Asia Intercultural Conference and connected the arts charity to other supporters. The partnership is a good example of the best model in corporate arts sponsorships, where sponsorship activation has deepened in tandem with the growth of both organizations over the years” – Josephine Tan, Development Director of ITI.

As an international Global Content Consulting Services company, Verztec is accountable to the communities in which business is conducted and where employees live. Verztec believes that a reputation as a diligent employer, acting responsibly, with integrity, will enhance its credibility as a world-class global content consulting services company.

Verztec’s commitment to responsible corporate citizenship is exemplified through the focus on ethical corporate behavior, corporate giving programs, employee community involvement and industry participation.

Verztec pledges its employees will be honest, have integrity and always do the right thing.

Verztec defines corporate social responsibility as positive actions which impact on our customers, our people, our suppliers and the communities around our businesses.

For more information on Verztec Consulting Pte Ltd, please visit our official website.

About Verztec Consulting Pte Ltd

Verztec is a leading ISO 9001:2008 Global Content Consulting Services Company. Verztec assists companies around the world to design, develop, localize and publish their global communication messages in over 60 languages across various channels.

Verztec is the partner of choice for leading companies around the world, enabling effective and engaging communications across all channels.

For more information, please contact:

  1. Cindy Chew, Executive, Marketing
  2. Carrie Chen, Senior Manager, Marketing
Phone: +65-6577 4646
Fax: +65-6577 4647
media@verztec.com
https://www.verztec.com

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We are selected as one of the winners of the SME1 Asia Awards

We are proud to be selected as one of the winners of the SME1 Asia Awards – Prominent Category!

Thank you for your support!

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