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What Are the Economic Benefits of Complying with ISO Standards?

The International Organization for Standardization has conducted studies into the economic benefits of ISO compliance, and concluded that there are three significant financial benefits for your business upon becoming ISO certified. In this blog, the Mark1 team are breaking them down for you and discussing why ISO certification can be so lucrative.

Streamlining Internal Operations

Since ISO standards are based on best practices, implementing them can streamline the internal processes of your organisation. This means that you require less time to complete work, produce less waste, and increase overall productivity. The case studies that ISO used to complete their research suggested that the standards directly influenced between 0.15% and 5% of the annual sales! By aiming for continual improvement, you will ensure that every aspect of your business is as efficient and productive as possible.

Innovating and Scaling Up Operations

Furthermore, using best practices allows you to innovate within your industry, attracting new clients with your ability to improve and adapt. It also makes it easier to expand — making connections, for example, or making new product lines. ISO standards provide an excellent framework for growth, and require you to consider your organisation as a whole; you might identify an exciting new opportunity as a result.

Creating or Entering New Markets

Some clients will mandate a particular ISO certification as a condition for working with them, in which case ISO compliance certainly creates economic opportunities to partner with a larger variety of associates. Both domestic and export markets can be expanded by becoming ISO certified. In some cases, ISO reports that companies achieved a gross profit contribution of up to 33% of their annual revenue. Imagine what certification could do for your business!

For advice on your ISO certification journey, you can contact the Mark1 team here.

Posted in Business

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