Award and quality marks can boost your organization's reputation, setting you "apart from the crowd." They can also give team morale a boost by highlighting team and individual achievements.

If you're a young company, winning awards can signal to the world that you've "arrived," and help to cement your credibility. For more established players, business marks and awards not only showcase your heritage, but also prove you're still dynamic and innovative.

Forex Awards can also be great for an organization's bottom line. Research highlights that award-winning businesses can acquire a sales boost of 37 percent, as well as a 44 percent jump in their stock price.

1. Benchmarking with others in your industry – Sometimes the application process is simple and easy, other times, not so much. Either way, entering the arena and trying to win a business award allows you the opportunity to compare your company with others in your industry. The entire exercise of nominating your business could hold more value for your company than actually winning the Forex award.

2. Forex Awards increase credibility for your company – Winning a business award provides a credible third party endorsement for your company. Depending upon how prestigious the award is, it could give a stamp of approval on your business. Customers and vendor partners will feel better about their business relationship with your company.

3. Free or inexpensive PR and marketing – Forex awards can be an overlooked tool in your business toolbox. Simply being listed as a nominee for an award can improve brand awareness and promote your business to new customers. Winning an award opens doors to new business and new contacts.

4. Employees feel better too – Staff morale and motivation often improve when a company wins a Forex award. Celebrate the victory with your employees. You all deserve it.

5. Forex Awards help with recruiting – Forex awards can help a business attract the best talent. Everyone wants to work for a winner.