Compliance with standards has a range of benefits for organisations, consumers, governments and the community at large. Standards can affect an organisation's quality, lead-time, supply chain management and costs. They make trade across international borders easier and promote global competition, having a positive impact on economies. Standards provide consumers with confidence in the quality and safety of products and services. In doing all of this, standards impact communities and economies across the globe. Looking at the impact to business only, standards help organisations by:
1. Reducing Costs
Lowering costs through minimising errors, redundancies and increasing productivity.
2. Efficiency
Improving quality, safety, and lead-time of products and services.
3. Mitigating Risks
Identifying and mitigating risks within their business and supply chain.
4. Consistency
Lowering research and development costs and improving speed to market by building on previously standardised technology or systems.
5. Customer Confidence
Promoting acceptance of product or services into the marketplace by increasing customer confidence in their safety and quality.
6. Uniformity
Providing uniformity of units of measurement, enabling accuracy and confidence in commercial transactions locally and globally.
7. Eliminate Trade Borders
Helping products, services and staff move across trade borders, reducing technical barriers to international trade.
8. Universal Vendor Requirements
Improving supply chain management by establishing common requirements for all vendors to comply with.
Learn how your business can benefit from Standards, download our whitepaper. Alternatively search our Standards catalogue.