ISO certification

ISO certification

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Dr. Holger Muehlbauer and Pedro Veloso

First Portuguese company to be certified by ISO 10668 for monetary brand valuation and fifth worldwide.

The brand valuation methodology of WISEMIX has just been successfully certified according to ISO 10668:2010. 

WISEMIX is the first ISO certified brand valuation Portuguese company and fifth worldwide.

Pedro Veloso, Partner of WISEMIX – Business and Brand Consultants, Lda. stated:

“The ISO certification conducted by an independent institution reinforces our reliability and expertise as a professional brand valuation company.

The certification, according to this internationally recognized standard confirms our high quality standards and performance  and validates the confidence our clients have placed on us. It is the evidence that they can trust the methods we use to determine the financial value of their brands.

We are proud to be the first Portuguese company to be certified by ISO 10668 and the unique company with presence in Portugal certified to value brands.

Our methodology has several innovations that can be applied worldwide:

·      Calculates Brand Contribution Index by stakeholder not only by customers but also by human resources, suppliers, and lenders using SEM (structure equation modelling)

·      Relies on a solid benchmark of Brand Contribution Index by different sectors reflecting (1) the relative importance of drivers in the decision process (2) how much each driver depends on brand perception and finally (3) how important is the brand to secure growth and future earnings for the Company.

·      The Brand Impact model is based in the market response of the customer’s experience and not in the expert’s opinion. Performance of the brand in each attribute is assessed between the main competitors and scored by applying Z-transformation distribution.

Our brand valuation approach takes in account business and brand main changes by the digital, social media platforms and customer journeys being able to measure the implications on brand value of such recent practices.”

Dr. Holger Muehlbauer, who audited WISEMIX in Lisbon on behalf of a neutral certification body (Austrian Standards Certification) welcomes the initiative of a voluntary certification:

(1) "The main motive of developing ISO 10668 was to define, widely accepted, trustworthy and standardized requirements for monetary brand valuation. ISO 10668 represents the international normative reference for the monetary valuation of brands."

(2) "The ISO standardization in brand valuation came about because of the lack of broadly recognized, uniform requirements for brand valuation, against the background of international accounting standards which require greater attention to a precise breakdown of intangible assets in the balance sheets of companies listed on capital markets. ISO 10668 is the internationally authoritative standard for evaluating the monetary value of brands. ISO certification by an independent entity enables brand consulting companies such as WISEMIX to document their professionalism and affords them more authority in the competitive marketplace."

Dr. Holger Muehlbauer, is Managing Director of the IT Security Association Germany (TeleTrusT) and a former Managing Director of the German Institute for Standardization (DIN). He served as secretary for the multinational ISO Committee that developed ISO 10668 in complex, consensus-based negotiations.

 

Background

Brand valuation serves an important function in assessing a company’s business potential. Previously it was difficult to compare the results of various brand valuation methods, as the lack of general standards for brand valuation resulted in highly divergent results. This led to insecurity on the part of companies, which were often reluctant to participate in brand valuation processes. The brand valuation standards in ISO 10668 were created to address this problem and make brand valuation a more respectable enterprise.

ISO 10668 sets principles for methods that determine the monetary value of brands. The external certification institute confirms that the valuation methodology applied by WISEMIX adheres to the international standard ISO 10668.

The international norm is consistent with already existing principles according to IFRS and OECD. In addition, the ISO norm includes practice-oriented aspects that are indispensable for an objective and holistic valuation of brands. It defines a coherent and reliable approach for brand valuation that takes into consideration financial, legal and behavioral science aspects.

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