Localization (L10N) is the process of translating and adapting existing source language content to meet the local preferences and/or conventions of a specific target market (a "locale"). It addresses content language, culture, display of local units of measure, etc.
Internationalization (I18N) is the process of generalizing a technology platform and architecture to efficiently support and adapt to multiple languages and local/cultural conventions. It is a development process that eliminates the need for re-design with each target language and reduces the cost of localizing a software, web application or architecture.
Globalization (G11N) is the process of defining the business and technical requirements, processes and resources necessary to launch and sustain a multi-market initiative or initiatives to address international target audiences and stake-holders. It is broader in meaning, and includes internationalization and localization.
Question: Isn't translation management covered under content management systems? Why would my corporation need a TMS system, if I already have a CMS implemented?
Answer: A CMS (Content Management System) is different from a TMS. A CMS system is best at managing the steps related to the authoring and management of content pieces. It can also manage the creation of content in multiple languages, but does not maintain the one-to-many relationship between source and target content, the was a TMS does. Additionally, TMS systems include linguistic technology that is not part of CMS functionality. Therefore, the best solution to making your CMS have these features, is to integrate these two type of systems.
Translation Management System (TMS) also called Globalization Management Systems (GMS) is an enterprise software application that facilitates the management of the localization process and maximizes translator efficiency by automating all repeatable and nonessential work that can be done by software/systems and leaving only the creative work of translation and review to be done by humans.