How Does ISO 9001 Affect the Bottom Line?
How does ISO 9001 affect the bottom line? ISO standards like ISO 9001 impact businesses, governments and societies worldwide in a powerful and positive manner by providing practical tools for sustainable development. This sustainability is incorporated economically, environmentally and socially, but many business owners want to know how these standards like ISO 9001 will affect their bottom line.
According to the U.S. Department of Commerce, standards and conformity assessment (checking that products and services measure up to standards) have an impact on 80% of the world’s global commodity trade. These results come from more efficient production and better decision making. But taking a look more specifically at the results of ISO 9001 certification provides an even clearer picture of the positive outcomes to an organization’s profitability.
Former Director of ISO Certification at BSI Group, the national standards body of the UK and global certification company, Neil Hannah, stated that over a 10-year period, ISO 9001 certified companies outperformed the market by more than 100%. These results were measured by comparing the performance of firms before and after certification and a more complex method, carrying out longitudinal analysis in which the performance of equally matched companies were measured against each other, during the timeframe in which one party sought and later earned ISO 9001 certification while the other did not.
BSI also surveyed more than 10,000 of their clients worldwide to measure the benefits they get from their key management systems, for example ISO 9001, and found that:
- 75% improved operational performance with ISO 9001 Certification
At simpleQuE, we have found what we consider to be the top five ways that ISO 9001:2015 can help your bottom line but we are confident there are many more. They include:
- Competitive Edge
- Efficiency/Cost Savings
- Innovative Products and Services
- Customer Confidence/Satisfaction
- Market Access/Trade
See our blog post What’s the ROI of Quality for more information and business statistics.
SimpleQuE is a leader in AS, IATF® and ISO consulting, auditing and training. Whether you are just beginning the certification process or looking for a partner for ongoing gap analysis and internal audit assistance, simpleQuE makes the process easier and more efficient. Contact us for a consult and see the difference that simpleQuE can bring to your quality management process.
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