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.

Fee Structure

  • 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.

Customer Benefits

  • 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 !!

Why Us:

  • 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!

Contact Us

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