sibert "Is there any other ways to achieve this? Better or faster?" Yes, custom made, specific made, CMS for your own needs, that's the best way and best answer. Yes, been there, done that, even created my own CMS and framwork (just saying, not bragging).
Other than that it depends. I think it's doable in Wordpress (custom fields), Drupal allows you way better control of diff kinds of content, custom content. There might be other ways to do it (other tools) depends on your taste.
If you don't mean full website but just parts of it, then yes again custom made table and script would work pretty well.
But what about the specifics? if you mean domain/language, it would be better for the users. If you mean table as you kind of explain above, feeding the user the language depending on the preferences... that's doable, but think about search engines if your site is public and to be indexed.
Better? in my opinion diff domains or diff categories within the domain. Faster? depends on your coding skills.
After dealing with diff languages on websites, and having the positive exposure on a company investing on 4 diff languages for a website, I'm not entirely sure if that's the best idea unless your company really wants it, as the content will rank differently, and perhaps you will see stats showing how little relevance some languages have and not being worth the time.