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The process involves using a file in a phrase project, which will first be processed in a memo queue. The user plans to pre-translate the file to maximize information retrieval from online translation memory. They will select the file and choose the pre-translate option, opting for a low match setting of 50 to minimize reliance on translation memory and term bases. The option to override existing translations in the target segment is selected. Finally, the user will download a bilingual mxlif file, which is prepared for further processing in another tool.