Reputation is difficult to value, but so is legal compliance. Before deciding on how much something is likely to cost, it is always worth looking at how much money will be saved by purchasing said item.
Take anti-bribery for example. Implementing an Anti-Bribery Management System (ABMS) that’s aligned to BS 105000 will cost an organisation a noticeable amount of money, but just think about how much money it saves too.
Organisations that are found guilty of being involved in bribery can face unlimited fines and individuals can face the same penalty but also up to 10 years in prison.
So if you look at the cost of implementing an ABMS which is designed to prevent bribery; against the cost of being found guilty of bribery, you’re actually saving money.
One of the great benefits of a BS 105000 certified ABMS is that if it fails and someone in your organisation becomes involved in bribery, your organisation will be protected as you can prove that you had adequate procedures and policies in place to reduce the chance of bribery.
If you’re looking to implement an ABMS that’s BS 10500 compliant into your organisation, then I recommend you take a look at the ABMS Documentation Toolkit which is designed to speed up the implementation process.