Companies must not cut corners on industry standards amid the current cost crisis, warned Paul Wallis, managing director of Hantec Systems.
Wallis urged business leaders not to let their industry standard certifications slip, including GDPR or Cyber Essentials, if they are feeling the squeeze, warning that they could suffer a loss of profit, loss of valuable assets, a demotivated workforce and loss of customer confidence if they do.
Instead, the improvement consultancy said companies should continue to renew their ISO standards to retain stability, profit, growth, quality and staff well-being as they weather the economic uncertainty.
Wallis said: “Keeping on top of industry standards and business compliance is absolutely crucial during a cost crisis. Cutting corners and letting standards slip sets a business up to fail.
“With a lack of industry standard certifications such as the GDPR and the health and safety regulations, businesses may struggle to push forward during a time when they need profit and growth more than ever. Adhering to industry standards improves efficiency, productivity and overall better customer service. It also protects the brand from cyber attacks or data leaks.”
Wallis added that if companies are not compliant in one area, the chances are other areas will be lacking in compliance too.
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