Benefits of standards for business and industry

Cost savings and increased revenue

The use of recognized standards, whether related to the design of a specific product, the management of its production or the delivery of a service, makes businesses more efficient and cost-effective. In many cases, standardization can reduce the burden of regulatory compliance.

Expanded markets

Increasingly, conformance to international or national standards is easing the entry of products and services into foreign and domestic markets as well as reducing technical barriers to trade. Many international trade agreements support the use of international standards and the mutual recognition of conformity assessment results.

Innovation

Participation in standards development exposes businesses to the expertise and research of other organizations within the same industry or sector. This increased knowledge translates into enhanced designs and new ideas.

Risk management

Standardization provides businesses with tools to better manage risk. Not only are organizations increasingly adhering to standards to ensure the safety and efficiency of their own practices and products, they are seeking out suppliers who do the same.

Confidence and status

Standardization is a means for organizations of all types and sizes to demonstrate social and environmental responsibility in their business practices.  This can positively impact public perception and consumer confidence.

Competitive edge

Active participation in standards-related activities equips businesses with relevant information on emerging trends and changing practices, and also translates into a business advantage.