Grow your business in 2012 – EconoBEE Newsletter – 11 January 2012
EconoBEE – Newsletter January 2012
What a year 2011 turned out to be. There was so much happening that we could so easily make the mistake of forgetting some of the lesser known “mini victories”.
To start with lets look at the charters. In early 2011 SANAS forced a number of companies to withdraw their certificates because they were based on the incorrect charter. It is pleasing to note that with the clarity from SANAS and the DTI far fewer invalid certificates have been issued. The best news yet is the B-BBEE amendment act clarifies the use of charters.
The Chartered Accountancy Charter was gazetted and quite happily we have already seen companies using the new charter.
The PPPFA – Preferential Procurement Policy Framework Act is fundamentally the most significant change of 2011. This act defines all government procurement and as a result of a relatively small change takes into account your B-BBEE status for preference points. The impact is that you need a BEE scorecard or more specifically a scorecard with a high number of points.
IRBA – The Independent Regulatory Board for Auditors. Verification, accreditation and interpretations have been a major talking point. The DTI acted on those issues and has now allowed IRBA to approve their members for perform BEE verification. With that approval IRBA members will be able to conduct verifications as well as their clients’ accounting audits.
Amendment bill and proposed changes to the Codes of Good Practice. The amendment bill was gazetted in December 2011. We still anticipate a change to the Codes of Good Practice.
Looking briefly into the future – The BEE targets for Employment Equity and Preferential Procurement are going to be increasing soon. When the B-BBEE codes were gazetted in 2007 they set a 0-5 year target and then 6-10 year target. As at 9 February 2012 the BEE targets will use the 6-10 year targets (the jury is still out as to whether this will apply – we and most commentators believe it to be the case).
Welcome to 2012 a year poised to be a good year.
Your best BEE partner in 2012…
Your best BEE partner in 2012 is the consultant who knows and understands how to implement BEE to your benefit.
Generate business opportunities, access new markets and maintain existing business – Your BEE Scorecard is required by customers for their BEE Scorecard. A good BEE Scorecard will help them achieve highly on their BEE Scorecard which in turn often results in additional business with existing customers or new business opportunities being generated. Government tenders will take into account a good BEE Status. Your good BEE Status will give you a major advantage!
Your time on your business activities – Our consultants will calculate your entire B-BBEE Scorecard for you. Once complete we will prepare a comprehensive BEE Scorecard report which can then be sent through to directors during management meetings or customers who are interested to see your progress.
Procurement – You do not need to contact any of your suppliers because our comprehensive BEE Scorecard Database will contain your suppliers BEE Certificates. Where the data is not available our contact centre will gather this data on your behalf.
Once we know how many points you have earned we will implement a tried and tested documentation pack which speeds up data collection and ensures your verification is quick easy and convenient. Since we know what is required we will only gather what is needed for your verification so you can continue working on your business activities.
Convenience and piece of mind – Our consultants work for you. In this way you know while you are not working on your BEE Scorecard we are! If you have queries or need assistance our contact center will answer any and all of your BEE queries or schedule a meeting for a detailed discussion.
Receive regular reports so that you know your status all of the time or check on the status of your BEE Scorecard using our high powered BEE tools which are conveniently located online giving you a real time scorecard available 24/7 – EconoBEE V3, BEE logging System and BEE Procured provide instant data availability, reports and updates.
Fast Response – Our large team has a high capacity to ensure any work required is handled quickly. A report is then sent through together with an analysis of the impact and a strategy to improve your BEE status.
Consistency – Work on your BEE Scorecard throughout the year and not once a year just before the verification. BEE is a process and requires a small amount of effort each month to become successful. This also builds up a knowledge base of activities or allows management sufficient time to implement strategic decisions.
Affordability – One of our key tasks is to ensure that you are earning points in the most cost effective manner. We help you find the most effective and beneficial aspects to earn BEE points. Some BEE spend can be recoverable, we help you recover that spend.
We know how to earn points without restructuring your business or adding any complications. We help collect data that is often missed which enhances your BEE points without any additional spend.
Credibility – A BEE Scorecard will improve your business profile. However using the right verification agency and consultancy will add familiarity to your scorecard and create a sense of trust. EconoBEE is a high profile consultancy who has received radio, TV and press coverage on BEE related topics. BEE Verification agencies know the EconoBEE reputation and their high success rate of appeals. We have developed good relationships with government departments and accreditation agencies with regard to interpretations, consistency and fronting.
Improved scorecard measurement and optimization – A goal in any business is to make a higher profit or gain customers. In BEE terms the higher your points the better. We assist you gain value out of BEE by showing you how to earn more BEE points, providing a comprehensive strategy to earn those points and help you implement those strategies effectively.
Intensive Strategic Planning – Through a consultative process and by using past results we will help you gain a better understanding of what can be done in the future to better your BEE scorecard. This process will streamline your business by providing clarity on what has to be done, by whom, when and how.
Avoid the BEE Distraction – While you are spending time on BEE you are not working on your own business. Our team is trained to handle all aspects of BEE compliance. Your BEE distraction is another day at the office for us.
With EconoBEE move beyond the BEE difficulties and gain a competitive edge by saving a tremendous amount of time and money and of course earning more BEE points with our BEE Managed Service.
Gain the business you deserve from your BEE status.
While there is demand for a BBBEE Scorecard someone will be taking advantage, shouldn’t that someone be you…
Remember BEE Points = Happy Customers
That’s it for the time being. Wishing you a very prosperous 2012. Regards Gavin and the EconoBEE Team
EconoBEE assists companies prepare their BEE Scorecard for Verification by offering consulting & advisory services, management tools and training courses. This ensures a cost effective and efficient approach to becoming BEE compliant.