Why compliance has become the key to winning bids and tenders for UK organisations

By Adam Dixon, Head of Sales at Hicomply

Let’s be honest: there’s nothing glamorous about compliance.

Apple doesn’t lead its global ad campaigns by creating fanfare around ISO 17025 – despite the fact that testing and calibration are clearly vital to their product development and manufacturing processes. Similarly, Nike and Reebok have never built the launch of new collections around ISO 9001, even though everyone hopes that they maintain high standards for quality management.

But in a world where organisations are more interconnected than ever before, there is no doubt that compliance has become the cornerstone of supply chains everywhere. Head to the government’s procurement gateway, for example, and you’ll quickly find that tendering is a non-starter for businesses without core certifications.?

It is estimated that the global ISO certification market is worth US$ 16.14bn in 2024. And it’s projected that this will reach a market valuation of US$ 66.25bn by the end of 2034. Why? Because ISO certifications are considered to be a reliable way for companies to demonstrate the quality, effectiveness and safety of their organisations. As a result, they have become a requirement for tender processes in many sectors.?

As supply chains become more complex, the need to quickly and reliably vet suppliers has never been greater on a global basis. ISO certifications in particular, represent a way for businesses to showcase their ESG (Environmental, Social and Governance) credentials and demonstrate that they act responsibly as part of day-to-day operations.

In financial services, for example, a concerted effort has been made by regulators around the world since the financial crisis of 2007/08 with the clear purpose of supervising the financial services sector in a more robust and rigorous way.

In this industry, monitoring risk and maintaining trust has been placed at a premium. Compliance helps to build this confidence and deliver greater transparency in a market previously shrouded in some secrecy.

It’s not just financial services, however. Providing greater stakeholder and consumer protections is desirable in virtually all industries. And with cyber attacks on the rise (jumping by 38% globally between 2021 and 2022 alone) the need for organisations to take information security seriously has never been greater.

In the field of information security, the drive to meet compliance requirements and gain certification is also a response to global events such as the Russian invasion of Ukraine and a growing number of attacks from an array of threat actors. The annual rise in incidents and breaches, has served to shine a light on the value of effective risk management and cyber security – placing best practice at the top of the priority list within supply chains.

Bearing all this in mind, it is hardly surprising that the last decade has seen a 450% increase in the number of organisations becoming ISO 27001 certified. At last count by ISO in 2022, there were over 70,000 organisations certified across more than 150 countries.

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Changing the narrative on compliance and business growth

Traditionally, compliance hasn’t always gone hand in hand with business growth. Developing a framework for safe, secure and robust progress can feel less dynamic than the “move fast and break things” approach championed by Silicon Valley tech start-ups over the last 20 years. But this more anarchic philosophy has also shown itself to be a high risk and volatile approach.

To use a helpful analogy: throwing up buildings high and fast on weak foundations will get people through the door faster. But it can also be a recipe for disaster when the cracks begin to show.

In recent times, the trend towards agile but frail organisational structures has given way to a more pragmatic and resilient trend. It may sound less sexy but it’s certainly a better way to develop relationships who don’t treat investment as a gambling exercise.

The idea that compliance slows growth and inhibits success has also been proven to be patently false in many instances. In fact, aligning compliance practices, policies and risk management with strategic goals has been shown time and again to be a secret to success.

Today, compliance plays a crucial role in ensuring businesses expand with integrity and business continuity in mind.

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Beyond certification: the underlying value of compliance

Compliance is about much more than simply following rules, of course. It’s about creating an environment where best practice and ethical behaviour is followed by everyone within an organisation.

Fundamentally, compliance protects organisations from expensive problems – both financially and reputationally. It also makes for a better workplace: an environment in which good people feel valued and empowered to make good business decisions.

A strong culture of compliance serves to build both internal and external trust, making it easier for organisations to attract customers (such as through tenders), partners and investors.

Working hard at compliance is crucial to organisational success. But it can also be done in an intelligent and efficient manner with the support of smart software solutions.

At Hicomply, our compliance software is adept at streamlining process and procedural updates, automating approvals, collating assets and signposting risks that require treatment. This is as applicable across quality management and environmental management as it is in the realm of information security.

If your organisation wants to put its best foot forward for upcoming tenders, why not find out how Hicomply can help you gain a range of relevant certifications with ease. Book a demo today.