The buzzword in the recent months has got to be “standards”. But what exactly are “standards” and why has there been so much emphasis on them? SiTF is deciphering its meaning to help you better understand the rising need for Standards in the ICT industry especially in this digital-centric era.
What exactly are Standards?
Standards are generally defined as documents that provide requirements, specifications, guidelines or characteristics that can be used consistently to ensure products, services, processes and materials are fit for their purpose. Essentially, Standards help set benchmarks for companies to reach the optimal levels for their business to thrive and reach customer satisfaction.
How can Standards affect industries?
Standards can help businesses facilitate new growth and market opportunities, drive productivity levels and even optimize resource efficiency. Standards can also support safety and social needs.
More importantly, Standards help to better govern the industry – they help businesses stay abreast of the latest industry practices, allow the adoption of new business models and technologies and can enhance industry and product leadership.
How can Standards benefit businesses?
In many instances, Standards have helped raise the profile of many organisations, even leading them to achieve greater customer assurance. Active participation in international Standards can lead to opportunities for collaboration with both local and international industry players.
Operational efficiency can also be achieved when Standards are observed in specific procedures. When these procedures and quality control become clear-cut, consistency is a natural by-product and new hires will find it manageable to grasp.
Standards are sometimes developed through collaborative efforts which involves the consultation or participation of other international standards bodies and governments. Organisations in Singapore have a strong reputation for service quality and product reliability. Standards allow many of them, especially SMEs, to ride on this reputation and access new markets as cost and time to market are significantly reduced.
As markets expand and economies become increasingly integrated, the adoption of Standards make it easier for the brand profiles of Singapore organisations to rise with the increased confidence from customers who are assured of the consistency in delivery.