KPMG has introduced a software program that will assist organisations to manage their black economic empowerment (BEE) "journey" in an efficient and cost-effective manner.
The international professional services firm claims to be the first to develop a program that will streamline and ease the process for organisations to optimise their BEE score.
Sandile Hlophe, KPMG's director of BEE services, explains: "There are a number of models in the market addressing the issue of BEE compliance. What makes this model different is the fact that it not only provides clients with auditable processes and a scorecard that will pass a verification audit, but also ensures organisations move from a chaotic to a stable and optimised state of reporting."
The company says the program was developed with four objectives in mind: ensure BEE activities are auditable; effective and cost-efficient reporting; scorecard optimisation; and enhanced strategic decision-making.
Adds Hlophe: "Compliance with BEE no doubt contributes towards good corporate governance, but many organisations forget to ask the question: at what cost? Once an organisation has passed their BEE or charter scorecard verification, they seldom go back to assess if the reporting process and related data can be managed in a more efficient and cost-effective manner. Though many organisations strive to maximise their BEE score, few manage the cost of reporting. We believe the BEE Evolution Model meets this gap in the market."
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