Newsec property and business valuation in the Baltics now ISO-certified

The real estate advisory firm Newsec in the Baltics has earned ISO 9001 certification for quality management in property and business valuation. It is the first provider of property and business valuation services to obtain such certification in all three Baltic countries. The achievement confirms that the company fulfils internationally recognized standards of quality management, ensuring efficiency, continuous process improvement, and service quality.

“Implementation of this standard shows the company’s responsible attitude towards the quality of the services it provides and its commitment to clients to continually improve and optimize its work. The certification process is a positive stimulus to steadily strengthen the management of the company, and clients will have an added guarantee that the services they receive meet consistent quality criteria regardless of which Baltic country property or business is being valued in,” says Linas Daukus, Head of Valuations at Newsec in the Baltics.

The international standard for quality management ensures that a company as a whole operates effectively and consistently and that its processes are transparent and clear. ISO 9001 covers internal processes, from smooth communication to the constant assessment of potential risks. The standard also empowers an organisation’s employees by involving them in improving quality management. Annual audits make it possible to address any inconsistencies, driving continuous improvement, cost reductions and sales growth.

To maintain certification, organizations must continually ensure operating standards. So, companies that obtain it and want to keep it have to review their operations each year and renew their processes as needed.

Implementing the standard at the Newsec companies that provide valuation services in Lithuania, Latvia and Estonia took eight months. Certification was performed by the international independent certification body DNV.

Together with obtaining the new certification, the ISO 9001 (quality management systems) and 14001 (environmental management systems) certifications obtained a year ago by Newsec’s property asset management unit in Lithuania were renewed.