With all things that cost your business money, the prevailing question is “Is it worth it?”. What returns can you expect from investing the time and effort to achieve ISO certification?
Research has shown that costs can be reduced by 1600% per £1 spent on Quality management and Certification, there are some pretty big claims. Also profits increase by 300%. Of course, the returns you will get, are business specific, and will vary depending on size and market, however the prevailing answers are good news to the bottom line.
ISO 9001 Quality Certification reduces costs in a variety of ways, not least by reducing the number of defects, reducing waste, and reducing the number of incidents by taking preventive actions and solving problems more efficiently, which will then help reduce warranty costs. It will also enable an improvement in staff motivation, which in turn boosts productivity and by lowering warranty costs.
The efficiencies that come with ISO 9001 Quality Certification enable your business to increase revenues by opening new markets. Here it is all about the customer and their satisfaction. By winning more customers and understanding the customer needs better, their satisfaction will increase, reducing complaints and increasing the overall quality of service. Retaining Customers longer also significantly improves profits. Over and above this is the possibility of developing new products and services that meet changing customer needs.
ISO 9001 Certification has been shown to be a profitable investment. To find out more and find out how it could benefit your individual business, please contact us.