The best replacement for transcoding is encoding.

The best alternatives to transcoding are rated as following:
★★★★★  encoding
★★★  transrating
★★  rendering
★★  transmuxing
★★  re-encoding
★★  consolidating
★  muxing
★  re encoding
  direct play

Your alternative for transcoding is not listed? Suggest!
Speaking about transcoding, one probably shouldn't forget about ffmpeg.

Other search terms related to transcoding and their ratings are:
★★★★★ ffmpeg
★★★ plex
★★ handbrake
★ mediatomb
★ nero
serviio
You have in mind a companion for transcoding and it is not yet here? Propose!



Google Trends

Scale is based on the average worldwide traffic of transcoding in all years. Click on graph for more.
transcoding
encoding
transrating