Standards help facilitate trade and support rationalization, quality assurance, protection of society and the security and understanding. Economic growth is influenced more by standards than by patents or licenses.
Standardization can be used as a strategic tool when in competition. Participation by Companies in the creation of specifications, can give them a real knowledge and time advantage. This canlead to risk reduction in research and lower development costs. The use of standards, as an example, can result in tendering costs being significantly reduced.
A company can save costs by using standards, leading to benefits throughout a Company:
Purchase, research & development, manufacturing, quality- and system engineering, management, environmental protection, health/safety and sales can all benefit from the use of standards. Using international standards can open up global business opportunities. Research and development can use standards-based knowledge. Standards protocols and interfaces can lead to both lower corporate and transactions costs . The demand for a product can increase if it is compatible with an existing system or product. Successful customer relationships are based on maintaining quality of work and meeting the minimum requirement. Product Safety is enhanced by applying the appropriate standards increasing customer confidence and reducing the risks of product liability.
Participating in the standardization work contributes to the profitability of the company.
By participation in the standardisation work, there is an opportunity to influence therelevant national or international standards. This is a chance to introduce their own technologies into the market. Participation in standards creation allows the development of a forum for monitoring technological advances in the marketplace and amongst the competition. The participation of customers and operators in the standardization process allows for early provision of information about their requirements. These strategic advantages lead, amongst other things, to a reduction in market adaptation- and entry costs.
A further advantage is that involvement in the creation of standards assists in certification processes.
Standardization facilitates this process considerably.