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BEECHAMBER

VERIFICATION READINESS

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We assist BEE Practitioners to move from a reactive to a strategic mindset 

With increased regulatory B-BBEE complexity, and widening gap between external demands and internal capabilities, a standard reactive approach to B-BBEE is not a sustainable approach. In an environment where regulations get tougher, budgets tighter and growing expectations on the abilities of the BEE Practitioners.

A shift from reactive to strategic is key to success in this environment.

The BEE Chamber has all needed services required to facilitate this shift.

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B-BBEE Verification Readiness

Do you want to improve your organisation’s B-BBEE Score and associated Preferential Procurement Recognition?
If so, your search has landed you on the right page.

Like many things in life, an organisation only has one chance to present accurate and relevant evidence at its B-BBEE Verification. Therefore, preparation is paramount. The BEE Chamber recognises the consequences of an ill-prepared B-BBEE Verification and thus supports organisations in presenting accurate and relevant evidence that withstands scrutiny. Supporting organisations in being B-BBEE Verification ready is the Technical Compliance Support Service Team. It is manned by a team of technical experts versed in the B-BBEE Act, The Codes of Good Practice and the Sector Codes of Good Practice, with a fine eye for detail. Being B-BBEE Verification ready means that an organisation presenting its evidence to the Technical Compliance Team would have identified any shortfalls and thus can retrieve any missing evidence or correct any inaccuracies, saving valuable points on an organisation's overall score.

What is B-BBEE Verification Readiness?

The Technical Compliance Team has designed a framework whereby each indicator on the relevant Code is cross-checked against evidence. The process of analysis against the indicators tests interpretations, ensures that targets are met and payments for claims are made within the Measurement Period. The Team further prepares an organisation for any impending queries that may arise from the B-BBEE Rating Agency during the B-BBEE Verification. This preparation allows an organisation to get a real-time expectation of the potential score before its B-BBEE Verification.

The benefit of being B-BBEE Verification ready in year one is that it builds a foundation for year two and beyond that. In identifying a shortfall in evidence, the Technical Compliance Team provides the tools to rectify the deficit for the following B-BBEE Verification. Overall, the quality and quantity of evidence will filter through to the overall score.

How can we help you?

​The members of the Technical Compliance Team, through many years in the field, have worked with organisations of all sizes across all sectors. By taking organisations through the framework, the Team will instil the confidence in them that their evidence will withstand scrutiny and provide scorecard value in line with legislation. The B-BBEE Verification Readiness framework includes:

  1. B-BBEE Review Report

  • The indicative B-BBEE score is broken down per scorecard indicator for each element.

  • Provides a list of issues, together with relevant data or evidence, that have the potential to impact an organisation's overall score negatively.

  • Identifies risk areas and the potential impact of losing the associated points.

  • Discovers opportunities where there are unclaimed values which, once included, will positively impact an organisation's overall score.

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2.   Preparation of a B-BBEE Verification File containing all evidence necessary

     to confirm a claim, properly.

What is the process of implementing the Verification Readiness framework?

  1. In collaboration with an organisation, the Technical Compliance Team optimises all claims to their full potential, in line with the expectations of the Code on which an organisation is measured. This includes:

  • Conducting an assessment of data and all corresponding documentation.

  • Compiling a comprehensive report incorporating an organisation's performance against each indicator. The report further highlights risk areas, the quality of evidence, missed opportunities and provides a probable score per element.

  • Validating that the evidence contained in the B-BBEE Verification Evidence File aligns with the requirements of the relevant Code. 

  • Providing a B-BBEE Verification Report containing indicative scores per element, per indicator.

2.   The benefit of the B-BBEE Verification Readiness framework is the opportunity to remedy data or evidence that       falls short of the requirements, thus reducing the risk of losing valuable points during a B-BBEE Verification.

3.   By design, the framework delivers easily accessible evidence to an organisation's B-BBEE Rating Agency, saving         an organisation time and resources on queries and challenges on claims.

4.   A post mortem is conducted following the B-BBEE Verification in order to identify shortfalls and areas

      for improvement.

5.   Following year one, an organisation will better understand the B-BBEE Verification process, which enhances

      the internal buy-in and processes that will increase an organisation's scorecard potential moving forward.

If you would like to receive an in-depth B-BBEE Verification process or an improvement of your organisation’s B-BBEE scorecard, don't hesitate to get in touch with us as follows: