5 Steps to a Compliant B-BBEE Certificate
We all know that it can be daunting getting ready for that B-BBEE verification, you need to ensure you have everything in place and know what the verification agency is going to request. Often organisations tend to leave their verification preparation till the last minute and end up with either a much lower level than expected or the dreaded non-compliant certificate. So where do we begin?
Apex TA has put together a simple 5 step plan to ensure you are ready for your next verification.
Step 1: Choose a Champion
The first step is to ensure that you have a champion or even multiple champions that are taking care of your Transformation - this can be a Transformation Manager or another representative in your organization that will manage your transformation journey. Often times it is necessary to split the duties and appoint a champion for each of your B-BBEE scorecard elements to ensure full compliance. Some companies do not have the capabilities in house and require the help of an outsourced expert B-BBEE consultant such as Apex Transformation Advisory. However you choose your champion, it is of utmost importance that they are committed to managing the Transformation journey for your company.
Step 2: Strategy Development and Planning
The B-BBEE scorecard rules and regulations have been gazetted and laid out in the codes of good practice; the verification manual and the various sector codes. Every organization should be developing a B-BBEE strategy and implementation plan according to these codes to ensure compliance to the codes. The strategy and plan should address all gaps with regards to the targets as set out by the codes of good practice and/or the sector codes applicable to your organisation. Your implementation plan should be in line with the strategy that you have developed, with the requirements of the verification manual kept in mind.
Step 3: Implementation
Once you have identified all the gaps and developed your B-BBEE strategy - you are ready to implement your plan. Ensure your plan is implemented according to the standards as set out in the codes of good practice; verification manual and sector codes if applicable to your organisation. Implementation also means ensuring you comply with all of the ancillary regulations that come with it such as ensuring that you submit your WSP on time for Skills Development as well as EE reports for Employment Equity.
Step 4: Tracking and Monitoring
During your financial year whilst you are implementing your plan, it is important to assess your progress regularly and ensure that you are meeting the milestones of your plan. Monitoring your progress through gap analysis and progress reports will ensure that you meet your targets and not miss out on any crucial points. Along with monitoring the implementation and meeting the targets as set out by your initial plan it is important to keep track of essential documentation and start building your verification file throughout the year such as collecting supplier B-BBEE certificates; WSP proof of submission; EE reports etc.
Step 5: Verify!
At this stage choosing the right verification agency is important and you should be comfortable with your agency’s interpretations and be able to communicate effectively with the key stakeholders. Although verifications can be nerve wrecking, this guide should make this process as simple as possible. You have selected a champion that will liaise with the verification agency and ensure it all runs smoothly, you would have implemented a well formulated plan and tracked your progress through the year including collating your verification file as you were going along. All this information will now be handed over to your chosen agency and they will verify the initiatives as claimed by yourself.
Getting a compliant B-BBEE certificate is as simple as following these 5 steps. Apex Transformation Advisory can assist with the execution of these steps as well as upskilling your staff with our team of professional and experienced B-BBEE consultants. Please contact us or request a quote in order for us to assist you with your B-BBEE compliance.