- POSTED: 05 Aug 2014 11:14
- UPDATED: 05 Aug 2014 20:06
The funds will help companies adopt higher quality standards for business processes, SPRING Singapore says.
SINGAPORE: Enterprise development agency SPRING Singapore said on Tuesday (Aug 5) it has pumped in another S$10 million to help firms adopt recognised standards for products and services – on top of a S$20 million tranche set aside in 2011.
The money will help companies adopt higher quality standards for business processes, particularly in areas such as manufacturing, SPRING said. Firms will be accredited once they are assessed to have adopted national standards.
The fresh funding will also support the establishment of a new standards development organisation. The organisation will oversee the development and promotion of nationally-recognised benchmarks in new sectors, and encourage standards education to build a pipeline of professionals.
Chief Executive of SPRING Singapore Tan Kai Hoe said: "An enterprise either competes on price, or it competes on some other differentiating factor. Now to be able to articulate that you have a different quality because you have set a different standard for your products and services, is probably a better way to compete, than to just compete on pure price alone."
SPRING also said it has launched a new accreditation scheme for bodies that certify learning service providers. The scheme will ensure that certification bodies provide impartial assessment of learning service providers.