The board also voted to approve a financial commitment to support standards development activities. This financial support will allow the Society to continue to grow its standards programs and fund future initiatives, the ISA said.
“Because of this action, our current and future members will benefit professionally from our standards at no cost, and they’ll be able to bring value to their employers by introducing best practices into their business,” said ISA President-elect Secretary Steve Huffman. “This will serve both individual members and their companies, and we’re excited about its positive impact on the industry as a whole.”
The ISA said it has traditionally invested more than $1 million per year in its industry standards development programs, but has typically recovered only 70 percent of that investment through the sale of standards. This additional funding commitment assures that ISA will underwrite the annual financial deficit, allowing standards development to continue unabated, independent of any other Society business trends, the ISA said. It also adds the new benefit for the Society to provide standards at no charge to its members.