Standardization can help organizations optimize internal processes, improve operational efficiency, and reduce transaction costs, thus enabling them to become more competitive and profitable (Gerundino et al., 2014). They also provide an effective means of spreading and applying technical knowledge to a broad group of institutions, which, in turn, creates benefits for the wider economy by improving efficiency, interoperability, and productivity, thereby ensuring sustainable economic growth in the long run (Blind et al., 2022; Grimsby, 2018).