You need to have the Administrator role, to be able to perform terminology extraction. To actually perform terminology extraction, click on the Configuration → Settings → Translation → Terminology → Terminology options, and selecting the checkbox next to Run Terminology extraction, in the Permit column. Use the checkbox in the Default setting column to specify whether this option is active by default for projects. Click the Save button.
When you create a project, the Run Terminology extraction option is visible in the Settings. You can change it from its default setting.
After the project has been created and file analysis has finished, go to Projects → Project list → (select a project and click on its context menu) → Download → Extracted terms.
Complete the terminology list by editing the downloaded Excel file. Add translations for extracted terms in the columns with the appropriate language code heading or delete rows with unnecessary entries.
You can now import the extracted and translated terminology back into XTM Cloud. See a separate article for this: How to import terminology into XTM Cloud.
After enabling terminology extraction globally, you can also set it up as a default action for a particular customer. To do so, go to Customers → Customer list → (select a customer) → Settings → Translation → Run terminology extraction.