ZED offers a wide variety of benefits to an organization. The quality standards are applicable to companies which come under the section of MSME’s or Sector who are seeking to improve their internal management and operational system. The government of India recommended that companies who are seeking to increase their profits in accordance to the environmental consciousness should seek for this certification.
BENEFITS to MSMEs
- Easy access to Loans: On the advisory of RBI, Indian Banking Association (IBA) is ready to give weightage to ZED Rated MSMEs for providing business loans. The same has been incorporated in the MSME Loan Application Form. (http://www.iba.org.in/advertisement1.asp)
- Credible & Reliable Vendor Database: ZED will ensure that the companies (Foreign and Indian) have a ready-made & reliable vendor base to support their activities through the ZED rated MSMEs.
- Superior Quality, Reduced Rejection, and Higher Revenues: Implementing ZED in true spirit will equip MSME’s for Superior Quality, Reduced Rejection and Higher Revenues in their product and process.
- Global Competitiveness: Enhanced competitiveness of the vendors in the global marketplace so that goods manufactured have no defects and thus leveraging the benefits of quality & cost optimization.
- Reducing Negative Effect On Environment: Enhanced environment consciousness making them ‘’Responsible Manufacturers.’’
- Awards and Rewards: High performing ZED MSMEs will be recognized at the national level through an award & reward system.
- Aligning with best practices: MSMEs will get an opportunity to do benchmark study and learn the best practices across the globe under the ambit of ZED Certification Scheme.
- Visibility & Brand Recognition: A “ZED MARK” to enable an MSME to be seen as a company with a leverage over non-rated MSMEs
Other benefits expected to be announced by the Government in the near future
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