Quantifying the Benefits of Quality: Role of Governance and Transparency

 

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Tracking the financial impact of any support function is necessary in order to illustrate its value and garner continued support and resources from senior management. This struggle is vitally important for quality management departments that continue to struggle with competing for resources. Once organizations get clarity on the financial impact of quality, the next step is to understand what practices and applications help improve the financial value.  

This article explores the relationship between quality-related governance and reporting and the financial benefits of quality.

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