Over a million businesses agree that they have benefitted from having a quality management system (QMS) that is certified with the ISO 9001 standard, the world’s highest standard for quality assurance. Meeting each of the ISO 9001 requirements will ensure that your organisation has a stringent or regulated QMS that orients your processes towards continuous quality improvement. An ISO certified QMS will also ensure that quality assurance is chased by each of the employees with a reduction of errors or inconsistencies in processes so that net operational costs are reduced too.

In other words, ISO 9001 sets out specific requirements and procedures for a QMS in businesses which are to be maintained in a continuous loop. With such a consistent process-oriented approach, a QMS will be able to contribute to efficiency and costs savings. Here is a further explanation of how a QMS with ISO compliance will help your business to save money.

It Lets You Put Cost-Savings Goal in the Forefront

Implementation of a QMS according to requirements of the ISO 9001 certification will allow you to achieve cost-savings goals. It will enable you to reduce the chances of quality errors and identify areas which can be modified or improved. With a QMS integrated organisation-wide, you will be able to examine and assess the ongoing performance of your every process or function. Besides, a QMS makes it mandatory to document data about every process and keep accurate records which can be evaluated from time to time. In short, by using a QMS, your management team can define your key processes and monitor their progress constantly. So, any inconsistencies or setbacks can be identified and corrected quickly ensuring that the quality of services or products is uncompromised.

Makes Risk Management Easy

As a QMS helps to measure and record data of organisational processes, it helps in managing risks over time. Thus, it helps in advanced risk management which contributes to reducing costs related with quality issues. It provides different tools of analysis that help in analysing existing risks as well as potential risks in your quality management. Having a centralised system acting as a source of data for different processes will help in taking better actions to avert any risks and prevent the unwanted costs associated with them. A QMS will also make sure your organisation complies with general regulations within your specific industry so that there is no cost incurred for noncompliance risks.

Necessitates Employee Training

Most organisations need to train their employees regarding the operation of an ISO certified QMS, which inevitably results in improved employee performance and higher efficiency. This too contributes to certain cost-savings. Training will help your concerned quality management personnel or employees to understand their respective responsibilities in QMS processes. It also is needed to make them aware of the process approach through which your quality management methods will be executed every day. This ensures everything is implemented and practised according to the documented QMS and your business consistently fulfils the top quality regulations issued by ISO 9001. So, when all your employees dedicatedly perform and obey with QMS guidelines to pursue your quality objectives, your business can become more efficient and productive leading to a rise in your bottom-line.

Reduces Response Times

The most significant issue of quality management is addressing complaints or grievances of customers late and inappropriately. It raises costs for businesses in customer complaints management such as costs for refunds, recalls, product exchanges, damage recoveries, etc. However, a QMS will help in addressing all such issues promptly and prevent costs in customers’ complaints management. As a QMS provides access to data of all key processes, it becomes easy for employees in the sales and distribution department to find out issues in a product/service delivery beforehand and correct them as soon as possible.

Implementing a QMS adhering with the ISO 9001 requirements will help to streamline your business processes and reduce costs that can be caused due to inefficiencies, risks, delays, quality failures and lack of employees’ performance. Besides, a QMS makes it necessary to document data and maintain accurate records of key functions of your organisation. It will enable your organisation to have information-based decision making and identify any areas for improvements. Overall, it is a key to reduce costs in your business by ensuring quality management across the organisation and reducing issues in your processes, products and services.

Author's Bio: 

Damon Anderson is the owner of an ISO 9001 certification consultancy and supervises a team of consultants which assist businesses with ISO certification processes in a cost-effective way. He is also a blog writer and likes to discuss on how to achieve ISO 9001 compliance, changes in ISO 9001 requirements, and ways to maintain ISO certification.

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