Cost of quality of internal audits

Developing resources to conduct internal audits of your quality management system is an investment of time and dollars.  Acquiring and even retaining the necessary and often specialized capabilities internally can pose quite a challenge, especially in these times.  It is important to conduct a cost-benefit analysis to understand the expected Return on Investment (ROI) of…

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3D illustration of a magnifying glass over a golden positive chart symbol. Concept of investing opportunities and excellent investment.

What is the Return On Investment of a Quality Management System? Your company could have many motivations behind implementing a quality management system (QMS) such as ISO 9001. However, making the decision to invest in a QMS always comes down to potential for profit, and an organization’s quality performance absolutely affects the bottom line. That’s…

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Return on investment of quality infographic

  What is the Return on Investment (ROI) of quality and how much of a difference does quality really make within an organization? The answer is: a lot! In fact, for every $1 spent on a quality management program, businesses have seen an average of $6 in revenue. Take a look at other interesting stats…

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