Xcelerate Verification Agency is proud to announce the achievement of a significant milestone, being their 10 year anniversary in business, after having started off as Izikhulu BEE Ratings. We were part of the first batch of agencies accredited by SANAS in 2009 and have operated successfully as a BBBEE verification agency since then, enjoying growth and recognition on the journey. We would also like to take this opportunity to thank our valued staff, clients and associates who have supported us and played a significant role in bringing us to this point.

In June 2016, Izikhulu BEE Ratings and ex-IRBA approved auditor, CPG Consulting merged  their operations to give rise to the rebranded “Xcelerate Verification Agency â€" Driving business growth through excellence!”  Our Company Vision is “Unsurpassed passion, ethics, expertise and attention to boost our customers’ transformation and growth aspirations”. Clients can rest assured that we advocate the core principles of transparency, responsibility, professionalism, confidentiality and impartiality.  We are a Level 1 BBBEE company, accredited on all gazetted Sector Codes and have serviced companies from multinationals, state-owned entities, corporates, privately owned large and medium-sized business as well as SMMEs. Visit our website www.xcelbee.co.za for more information.

Our Directors are professionally educated in engineering, chartered accountancy, finance and business management, hence aimed to deliver at the highest level. Vash Singh, Managing Director of Xcelerate holds a BSc. Engineering (Chemical) from the University of Natal, a MSc. Engineering Business Management from the University of Warwick (UK) and a MDP on BBBEE from UNISA. Selvan Pillay, Director of Xcelerate and CPG Chartered Accountants holds a B.Com, Hons B Compt, Chartered Accountant (SA) and is a registered auditor. He has also completed the BBBEE MDP course, and been an IRBA-approved auditor for four years.
                           
Achieving your targeted level on the New BBBEE Codes
The Revised BBBEE Codes was gazetted in 2013 and has been effective for almost a year. Most companies have now been assessed on these Codes and unfortunately many are not scoring well (Non-compliant to Level 7), due mainly to ineffective preparation for the challenging differences from the prior set of Codes. Xcelerate Verification Agency has been successfully assisting clients to pro-actively target their levels on the New BBBEE Codes through various offerings, viz:

1. Training, workshops and capacity-building
2. Setting targets, scenario planning and tracking of outcomes
3. Use of an effective software tool for self-management and scoring
4. Reviewing progress at critical times during the financial year so implementation is monitored
5. Advisory and support services

Kindly note that we cannot consult to and verify the same company for impartiality reasons.

Top 10 Scoring Opportunities on New BBBEE Codes
From our experience, we have summarised the list below to assist companies in implementing those tactics that have the most impact:

• Initiatives towards the three   elements that carry the most   points (Skills Development,   Enterprise & Supplier    Development [ESD],    Socio-economic Development)   must be implemented in the   financial year that will be used   for the verification. No random   12 month period is now   allowed.
• The pre-requisites to obtain   points on Skills Development   and Management Control   (annual WSP/ATR/Pivotal   Reporting and Critical Skills   implementation, and    Employment Equity reporting   to Department of Labour) are   vital to obtain any points in   these elements â€" for QSEs and   Generic companies.
• At least 40% of points for the   Priority Elements of    Ownership, Skills Development   and ESD must be obtained to   avoid dropping 1 level on the   Generic Scorecard, or    Ownership and either 1 of the   others for QSEs. If a company   does not have black ownership,   they should aim to achieve the   highest level on the other   elements to cater for this fall in   level.
• For the DTI Codes, a 10% black   ownership is the minimum   requirement to avoid dropping   a Level.
• Under Skills Development,   training and development of   any black person can be   claimed â€" not just staff.
• Formal learnerships,    internships and apprenticeships   gain the most points under   skills and there are many cost-effective ways of implementing   these for any company. Contact   us to find out more.
• Utilise the EME and QSE   affidavits for suppliers that   meet this profile, as these are   easy to obtain and provide high   levels that boost procurement   scores.
• Be mindful of new    requirements under Enterprise   Development and Supplier   Development e.g. limitation of   early payment terms, bonus   points, qualification of    beneficiaries, etc.
• Maintain records of all    initiatives as they are being   done to reduce workload and   risk at time of verification. If   suitable evidence can’t be   provided, points unfortunately   cannot be awarded.
• Be aware of the specific    requirements of Sector Codes   should they be applicable to   you. The Amended Codes for   Forestry, Tourism, ICT,    Property, MAC and Mining   have already been gazetted   while Transport, Construction,   Finance and Agriculture are   still in draft format but can be   finalised at any time now.

Contact Xcelerate Verification Agency to guide you further on achieving your targeted BEE level â€" call us on 0861 505 555 or email info@xcelbee.co.za.