WELCOME TO Formentco BBBEE Review Services.
- Changes to BBBEE legislation, changes in business environment may have serious consequences. Call us to review potential damage.
- We use the latest hi-tech proprietary software to analyse our clients’ scorecards. When doing such reviews, savings in BBBEE cost of between 1% – 2% (translating to thousands of rands) of total Procurement Spend often shows up.
- We optimise costs and identify new BBBEE opportunities and solutions. Remember, BBBEE is a cost and not just a once-off event – you always deal with shifting sands.
- Call us to find savings and increase your profits. And by the way, it may also improve your BBBEE scorecard
- You are more competitive by focusing on your core business.
Call Formentco to drive down your cost per BEE point- the single best measure of our success!
Reasons To Perform a BBBEE review
- Finance departments often assume that all systems are in place for maximum BBBEE points, but we have not come across 1 company, where we could not obtain more points for the same amount being spent. In many cases opportunities are difficult to identify and therefore companies have overpaid on BBBEE points.
- Financial restrictions prevent companies from performing a proper BBBEE review.
(External Auditors and Consultants fees are extremely high)
- There are many opportunities falling off the table in every organisation that are not always taken into account.
- Formentco carries the full risk of the review, which means No Results = No Cost and all other expenses like transport etc. are covered by Formentco.
- Formentco is paid out of the recovery and will not have any impact on your cashflow.
- There are NO hidden fees.
- With Formentco there are no risks, only mutual benefits
The BBBEE Review Process
- Both parties sign an agreement.
- We require the following information:
- Latest BBBEE certificate
- Latest set of financials on which BBBEE certificate was issued.
- Latest file that the verification agency used to issue your BBBEE certificate.
- Latest Detailed Asset List
- Data is taken of site and analysed to identify possible BBBEE opportunities.
- Retrieving of documents will be done by ourselves to minimize your staff involvement.
- Workings will be presented to management for discussion.
- Once both parties agree will the opportunities / solutions be put in place.
- We will assist in implementing the solution.
- Data with results are returned to client.
- It is risk (cost) free.
- Minimum involvement of your staff.
- Fully confidential.
- Improve cashflow.
- Obtain BBBEE points.
- Improve your systems for future prevention.
- Add shareholders value.
- Have peace of heart that your BBBEE plan is fully optimised.
- Company pay for results ONLY !!
- It is a risk free process (No recovery = No fees).
- Formentco bears all the risk.
- 99% of our process is conducted off site.
- Minimal involvement from your staff (we perform all aspects of the verification).
- Fully confidential with non-disclosure agreement in place.
- Improved cash flow.
- Increased profit.
- Confirm internal BBBEE controls and processes.
- Allow for future savings and not have to pay for it.
- Add to shareholders value.
- Pay for results ONLY!
* Required information.