Translation memories (also called TM) work as a database for terminology and are extremely useful when large volumes with lots of repetitions have to be translated. The use of a translation memory results in a consistent use of terminology and style in different documents. A second advantage is that there can be a considerable cost saving. If roughly similar or identical sentences are translated that gives you considerable discounts. A further advantage is that your file can be translated more quickly; no sentence is translated twice and that saves time.