Job and Position Flexfields using Translated Independent Value Sets

 We are merging 2 restaurant brands and have an issue with "normalizing" job codes for the job flexfield. We have different legacy systems that will use our job codes in interfaces. This is causing us to possibly need to set up two value sets for jobs (one for each brand). We'd prefer to set up one code for both brands to minimize maintenance and have uniformity across our brands. I was wondering if we could use a translateable independent value set to accomplish our goal.

We would map one brand that has a few hundred job codes to the other restaurants' job codes, then we would put the first restaurant's job codes in the "translateable value" column of the flexfield values form. Is this what the translateable value is used for? Can interfaces use the "translateable value" instead of the "value"?