After they register business in Singapore, the business owner has conducted business operations; they are able to consider getting accreditation for their corporation. While it is not a mandatory practise, it is one that can draw in many advantages for the company.
For those unfamiliar with what the process is, here is a simplified guide on what there is to know and why one should consider getting accreditation:
Acquiring accreditation as a business entity means that the corporation is assessed with internationally recognised standards for its competence. They are given endorsement over the process of conformity assessment activities by authoritative bodies like SAC to those who are able to meet the standard requirements.
To compare differences, receiving accreditation is essentially receiving formal recognition from relevant authorities in their field whereas receiving certification is a procedure where third parties offer written assurances that the company conforms to requirements. Each process delivers confidence to other corporations and end-users but differ in terms of framework.
There are certain benefits one can enjoy from being accredited by authority bodies. These benefits include:
Trust and assurance are two major requirements that business owners should meet after achieving Singapore company incorporation. By choosing to acquire accreditation, business owners are essentially building more credibility as a provider. In addition, there are mutual recognition arrangements for accreditation bodies so overseas markets will be more willing to readily accept the corporation if they know that the business entity has been certified by SAC-accredited bodies.
While the process of acquiring accreditation can incur costs, the overall results from being accredited will greatly outweigh the cost of accreditation with the business opportunities they bring. By being able to save up on costs as well as easily gain recognition within both local and international markets, business owners can actually greatly improve their financial growth.
To begin the accreditation process, business owners have to submit a formal application to SAC, along with all necessary documentation and application fees. Once the application is received, an SAC officer will make arrangements for assessment.
An SAC assessor will conduct preliminary assessments for the company to ensure that the corporation is ready for the actual assessment.
Any non-conformity result will require rectification before the next step can be undertaken. Once all requirements have been met, the assessment team will then send a recommendation to the Review Committee for accreditation decisions. Only when the Review Committee approves the recommendation will the applicant be granted accreditation.
Depending on the factors that could influence the accreditation process, including the complexity of the overall accreditation scope, witnessing availability, clearance of non-conformance and other requirements, a projected time frame for completion would be 3 to 6 months.
Upon receiving accreditation, business owners will then be able to use the SAC Accreditation Mark, the ILAC mark or the IAF MRA mark. Their corporation will also be listed within the official SAC directory and website- which is a source for companies and regulators to seek out reliable providers.