The paper bids to show the cost effectiveness of maintaining IMS for a water utility in the Philippines. The researcher used a single case study and descriptive approach to fulfill the objectives. Five (5) years of data was extracted from the water utility’s archives. The company has implemented an Integrated Management System (IMS) starting 2005. Since then, it has undergone several surveillance audits, and by 2018, has transitioned to the 2015 versions of the standards. Findings show that IMS costs grew by 383%, starting from Php121k spent in 2013, to Php 1.3M by 2018. The total expense incurred was Php 3.81M. For benefits, value drivers with operational metrices were identified and were then converted into monetary units. The total benefits amounted to Php 112M. Largest came from water sales worth Php59M followed by value-added services amounting to Php46M. Additional benefits came from service expansion and efficiency. The study concluded that IMS was indeed cost-effective but there are certain variables that can question whether these benefits are attributable to IMS. The study recommends the ff: First, is to take on a wider base to know if there will be variances for the expenses and benefits gained. Second, is for researchers to supplement this paper by including operational indicators besides those listed here and Last, is to include other ways of translating perceived benefits to actual monetary value.