Businesses not only reduce the economic risk of their research and development activities by participating in standardization, but also, they can lower their overall R&D costs by relying on previously standardized technologies and terminologies.
By participating in standards development activities that affect your products and services – and by implementing standards and conformance tools that can help you streamline your processes and trim costs – your company can continue to build market share and boost your bottom line.
Standards impact quality, lead time, factory flexibility, and supply chain management. They lead to lower costs by reducing redundancy, minimizing errors, and reducing time to market. Standards also make cross-border interoperability possible, ensuring that products manufactured in one country can be sold and used in another.