Prepare for BEE Verification – EconoBEE Newsletter – 5 May 2009

BEE Verification Conference – Prepare for BEE Verification

“Verification” means the process and activities conducted by a verification agency to assess, verify and validate that the score awarded to a Measured Entity is as a result of individual scorecard elements supplied by a Measured Entity, and to evaluate BEE transactions in order to provide an indicative B-BBEE score and Certification based on principles of the Broad-Based BEE Codes of Good Practice.

In theory a BEE Verification is a simple task. Go to a verification agency, fill in the questionnaire and then you have a verified BEE score or certificate.
In practice there is a lot more. If critical steps are missed you will lose valuable BEE Points.

Lets look at a practical example

You decide to get a BEE Verification because your customers ask you for one. You phone around and find a verification agency who will do the work. They send you a questionnaire, you fill it in and send it back. You collect all the info they asked for in the questionnaire, they come in to “audit” your documentation and you get your verification. Once complete you receive your BEE Verification certificate and it shows that you have earned 5.3 points and therefore are non-compliant.

Ownership – 0
Management – 0.9
Employment equity – 0
Skills Development – 1.6
Preferential Procurement – 2.8
Enterprise Development – 0
Socio-economic Development – 0
Total points – 5.3

You then give your newly acquired BEE Verification to your client and they say to you “this is worthless to us”.

What went wrong

It is important to note that a BEE verification is a long “journey” that takes time to prepare. As a result, a number of factors can affect your BEE verification.

  • Prepare a BEE Scorecard prior to your verification – there is no point in earning or losing points because you simply did not know.

  • Do you know how many points you will earn prior to verification or how many more you need to reach the next level.

  • Are you certain that no errors have been made and your verification is therefore invalid?

  • Do you have an idea of how to earn more BEE points? The response your customers/clients are looking for is a high BEE score – they do not want a low or non-compliant scorecard. If you do have a low score, find more points before your verification.

The goal of a verification is to assure your clients that the score you have achieved is correct! However your score is worthless if you do not have enough points.

“BEE Verification Conference – Prepare for BEE Verification”

A BEE Scorecard verification should not be a time consuming and expensive task. Our BEE Verification conference will help guide you through your BEE Verification.
Our unique but simplified approach to a BEE scorecard will literally help you get the BEE Verification you deserve.

Register early and get your own copy of EconoBEE V3 for your business

 

It is extremely difficult to do well on your BEE scorecard if you are not well prepared. Prepare yourself, earn the points and save money by implementing BEE the EconoBEE way.

Register now or you will miss out on an excellent opportunity.

Information:

Date:9th July 2009 – JHB – Gallagher Estate
16th July 2009 – CPT – Belmont Conference Centre
23rd July 2009 – DBN – Makaranga Garden Lodge
Cost:R2850.00 ex VAT (R3249.00 incl VAT)
Booking:Contact 0861 11 3094 or info@econobee.co.za or visit www.econobee.co.za and fill in the online form.

You can contact us on (011) 483 1190/0861 11 3094 or info@econobee.co.za or you can view more information on our website or download a detailed brochure.

Regards

Keith and the EconoBEE Team

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