When compliance is working, it often flies under the radar unnoticed. However, the value of compliance cannot be understated. In reality, Australian businesses that are compliant to international industry standards such as ISO 9001 have a huge leg up on their competition.

Here are four ways that compliance can create a competitive advantage for your business.

1. Competitive Advantage through Cost Reduction

Quality Management Systems (QMS) can create a competitive advantage for your business by increasing efficiency in business processes, which exist to reduce the costs of running your business. So what exactly are Quality Management Systems?

A Quality Management System is a collection of policies, processes, documented procedures, and records that set out the internal rules that govern how a company creates and delivers products and services. A QMS that is compliant with ISO 9001 ensures that the operations of the business are under tight and consistent control so products and services meet the required level of quality.

Effectively, the implementation of these systems will reduce costs through improvements in communication, a reduction in errors and defects, and the ability to operate more efficiently.

2. Competitive Advantage Through Increased Customer Satisfaction

The ultimate aim Quality Management Systems that are compliant with ISO 9001 is to enable a business to satisfy its customers effectively through improved safety, quality and processes. This increased customer satisfaction can become a major competitive advantage for a business.

 

 

 

 

 

 

 

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ISO 9001 provides guidance in the area of customer satisfaction in the following ways: 

• Leadership Requirements: By encouraging business leaders to take greater responsibility in customer service, a QMS provides real opportunity for improvement in customer service through a greater engagement with the customer.
• Performance Evaluations: A framework on how to evaluate customer satisfaction will lead to consistent improvement.
• Control of External Providers: Controlling the performance of external suppliers is key to customer satisfaction, as the customer will judge your business at every step of the way. It is crucial that the performance of these business partners is up to scratch.
• Operational Control: Operational planning and control is vital to satisfying customers. Quality must be assured at all levels, from planning all the way to the finished product or service.

A QMS compliant with ISO 9001 integrates the interests of the customer at all levels to ensure that the customer is satisfied. This level of customer satisfaction provides a competitive advantage for a business by building a loyal customer base and expanding that base through customer referrals.

3. Competitive Advantage Through Access to New Markets 

Compliance standards can also provide a competitive advantage to businesses wishing to enter new markets. An internationally recognised standard such as ISO 9001 is a requirement in some sectors or markets before doing business. Even markets that do not require companies to be ISO 9001 certified might favour companies that are registered as it offers greater accountability.

If your business is certified, then you are already ahead of the curb compared to your uncertified competitor. Easier access to new markets could allow you to greatly increase your customer base or sales volume, providing a significant competitive advantage.

4. Competitive Advantage through Attractiveness to New Clients and Business Associates

An international standard of compliance is also an opportunity attract new and high quality clients and suppliers. ISO 9001 is a truly global standard for quality, currently in use by almost one million organisations around the world. A business that is certified to ISO 9001 is in good company. This quality recognition can also be leveraged in marketing efforts to attract high quality clients and suppliers.

To speak with a Compliance Council compliance consultant about becoming certified to ISO 9001, get in touch with us below. 

For more information on how certification to ISO 9001 can help grow your business, download the free information pack below: