BEE: Persistent Success with BEE
Recent Gauteng Business News
“Persistence is the twin sister of excellence. One is a matter of quality; the other, a matter of time.” As a regular feature in the Top Empowerment Companies (TEC) survey, persistence has paid off for this year’s winner, Adapt IT Group. Moving through the ranks since 2004, the black owned company, listed on the JSE since 1998, has achieved top position.
Adapt IT earned a total B-BBEE score of 80,15 points placing it first, after being ranked fifth in the previous year. Black economic interest and voting rights are quoted at 37%. Black representation at board level is 50% and black representation at executive management is 25%. Of the listed IT companies surveyed, Adapt IT Group scored higher than most with 19 points and 82% preferential BEE procurement spend. Adapt IT Group is a level 3 B-BBEE contributor and value adding enterprise (137.5%) and has an Empowerdex AAA rating.
The past year has been one of strategic acquisitions for Adapt IT Group with further buy-out of non-controlling interest in ITS Holdings, its education focused IT service provider and Apply IT, a software solutions developer in process manufacturing, mining and energy. As wholly owned subsidiaries of Adapt IT Group, the newly formed Group believes that its combined skills and understanding of a customer’s environment is vital to adapting to it as well as positioning the Group to provide software solutions to fit its customers’ unique business needs. With an established Kwa-Zulu Natal and Pretoria base and secure foothold in the sugar and education sectors, Adapt IT Group, through its subsidiaries is targeting the mining, manufacturing and financial services sectors. Acquisitions remain an important part of the company’s growth plans as is strong organic growth.
Founded in 1996, Adapt IT Group has over 260 employees with offices in South Africa, Ireland and New Zealand and customers in Africa, United States, Australasia and the Middle East. As an innovative developer of software solutions, the company not only implements partner solutions, but also develops custom applications for clients that are further supported by ongoing outsourced and consulting services.
In the last reported financial year, the revenue increased by 169% to R208,5 m. Sbu Shabalala, CEO, Adapt IT Group says the company has proven itself in the past three years by quadrupling in size and are ready to take it to the next level. In an intensely competitive sector, Adapt IT Group lists its advantages as industry expertise with a combined 45 years of company experience; customer retention, consulting and technical skills and its impressive empowerment credentials.
The latter seems to be what the company is all about. According to its leaders, Adapt IT Group develops local skills and empowers people to deliver amazing results for its customers, shareholders, and for each other.
Shabalala says that it’s not just about what we deliver; but the legacy we leave behind.
Business News Sector Tags: Infotech| BBBEE|