BEE OWNERSHIP: WHAT YOU NEED TO KNOW TO ENHANCE YOUR BEE SCORECARD
Missed Transcend’s BEE Ownership webinar? Watch the recording here.
Read MoreA BEE plan is a company's roadmap on how to achieve their desired BEE level. A BEE plan, should clearly lay out the year's BEE inititiatives, costs, timelines and stakeholders involved. The BEE plan should include accurate BEE calculations and scores, as well as take into account any interpretative greyness.
However, becoming a B-BBEE compliant company is simply not good enough for any organisation, as soon as all its competitors have achieved a similar status. Every company will need to do better than the competition. Those who have undertaken the transformation process in a way that adds the most value will be the winners, not those who have ‘dressed up’ numbers on a scorecard. The key lies in transforming the business to become compliant, while simultaneously creating a sustainable competitive advantage. True sustainable transformation affects HOW the company does business, WHO it does business with, and WHAT type of business it should do. These are all components of competitive strategy and the answers to these questions require a clear and simple view of the strategy of the business.
A BEE plan is a company's roadmap on how to achieve their desired BEE level. A BEE plan, should clearly lay out the year's BEE inititiatives, costs, timelines and stakeholders involved. The BEE plan should include accurate BEE calculations and scores, as well as take into account any interpretative greyness.
However, becoming a B-BBEE compliant company is simply not good enough for any organisation, as soon as all its competitors have achieved a similar status. Every company will need to do better than the competition. Those who have undertaken the transformation process in a way that adds the most value will be the winners, not those who have ‘dressed up’ numbers on a scorecard. The key lies in transforming the business to become compliant, while simultaneously creating a sustainable competitive advantage. True sustainable transformation affects HOW the company does business, WHO it does business with, and WHAT type of business it should do. These are all components of competitive strategy and the answers to these questions require a clear and simple view of the strategy of the business.
The company will have a clear strategic roadmap of transformation for the short, medium and long term. This would provide strategic direction with clear initiatives, costs and timelines.
Transcend offers bee consulting support to the extent of the strategic BEE needs of the corporate. We act as a flexible resource to ensure the complexities of compliance are simplified, your BEE plan is implemeneted in a strategic and sustainable way, that all peripheray legislation is complied with and that there is BEE knowledge transfer to your teams:
A dedicated BEE champion and team
Consistent monitoring of the scorecard
Strategy and policy development
Bespoke BEE toolkits
Online tracking and monitoring tools and calculators
Project management of the entire scorecard and other legilsative compliance
Data collection
Sharing of best practice in developing strategies and compliance
Sourcing and recommending appropriate partners for: ownership; enterprise and supplier development and community projects
Supply chain management: sourcing BEE credentials of suppliers, maintaining a database of BEE credentials; finding alternate suppliers; sourcing small black owned suppliers
Transcend has the resources to assist you in preparing for your BEE verification from start to finish.
A successful audit is dependent on your preparedness.
Establishing a timeline for the audit with allocated tasks and responsibilities
Capturing and submitting accurate BEE data to your verification agency for sampling
Post-verification and wrap assistance
Attending the onsite to ensure the audit runs smoothly.
Modelling and projecting your expected level, based on your claim so that you can have a baseline with which to enter your audit
Compiling an audit file which contains all supporting documents for the sample selected by the verification agent and on-site verification support on the day of audit
Testing the eligibility of your BEE projects and exploring if there is any activity that is eligible but not currently brought into the audit process. A lack of understanding with regards to interpretation and audit requirements can have a crippling effect on your BEE level
Where necessary, this includes application to the DTI for dispensation for YES if there are requirements not met as listed on the YES practice note.
Examining the nature of the BEE projects to confirm they embrace the spirit of the codes, and the correct supporting evidence is in place to support this eligibility
BEE Ownership, Employee Ownership (ESOP), BEE Consulting, Multinational BEE, Sale of Asset, Equity Equivalent, Black investor, BEE Investor
Missed Transcend’s BEE Ownership webinar? Watch the recording here.
Read MoreBackground SANAS has resumed on-site verifications from the 1st of April 2022. Over...
Read MoreWe are dedicated to deliver transformation training, advisory and relevant content during the South African COVID-19 lockdown period.