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Standards are published documents that define voluntary characteristics and rules for different industries which may be pertaining to quality management, environment management, occupational health, and safety etc. Independent organizations define benchmarks stated in the standard on the basis of collective knowledge of the field. Compliance with some standards is not mandatory but is advisable. VComply’s Compliance Library helps an organization to cope up with the compliance required by various standards. They exist with the objectives of benefiting the industry as a whole.

Following are some reasons why all organizations should comply with the standards related to their respective industries.

Standardization Bodies

Boosts Productivity and Efficiency

Standards formalize the production process, providing details of the most efficient ways of carrying out each stage of the process. This eliminates the possibility of committing mistakes due to incomplete knowledge. Therefore, perfect knowledge accelerates the whole process thereby increasing productivity and efficiency.

Enables Innovation

As standardization provides structured and reliable information about production it makes the organization’s work easier and saves a lot of their time. This enables further innovation in the features of their product and catering to consumer demands.

Ensures optimum quality

Maintaining quality is an investment and complying with standards ensure optimum quality of product and services. ISO 9000 family is the most widely used Quality Management Standard. It specifies guidelines which ensure that companies meet the needs of customers and stakeholders while also meeting statutory and regulatory requirements.

Helps in Marketing

Standardization significantly helps in the marketing aspect as well. It helps win customer’s trust in the company and hence expand the customer base. A good that is ISO certified will indeed market itself as opposed to its substitutes which do not meet the standards specified by ISO. Customers won’t need to inspect the commodity to ensure its quality if it’s standardized. It assures them that the product is not adulterated and is safe to use.

Greater consumer satisfaction through standardization helps gain the loyalty of customers and also enhances the brand’s reputation. Branding gives a company a monopoly. The company can use it to exploit the market and increase profits by a huge margin.

Path to Sustainable Development

Environment management standards (ISO 14001) monitor climate change and environmental degradation. Various organizations have introduced numerous standards to ensure waste management and to keep a check on the quality of air, water, and soil. Emission of greenhouse gases by industries is a severe threat to sustainable development. Environmental degradation has adverse effects on the health and well-being of humans as well as flora and fauna. Hence, complying with these standards is highly essential.

Sustainability

Conclusion

Complying with standards can involve huge expenses. The process can be complex and time-taking for many industries and it often requires outsourcing compliance management services. However, the benefits outweigh the drawbacks of complying with standards. In this era of cloud-based applications, the compliance functions of companies can be simplified with the use of compliance management software like V-Comply.

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