Technology holds the key to economic transformation in SA, says Danny Mackay, chairman of Quadrem Africa.
Mackay believes a national supplier database should be developed, as it could help speed up black economic empowerment (BEE).
"Using technology to create an economic marketplace where buyers, such as government, can readily see companies` BEE scores can help speed up transformation by allowing proper black-owned companies a fair chance at being a supplier," he says.
Local bandwidth constraints may create technical issues in the implementation of such a project, he says.
Payment method
Technology also aids small and medium enterprises with cash flow issues, especially when doing business with larger organisations. A payment method, developed in collaboration with a commercial bank, allows a small company selling to a large organisation to receive payment on the same day, once a purchase order has been transacted, Mackay says.
"Using technology in this way, the country can save a lot of time and money by cutting red tape.
"We could make savings of between 10% and 60% on the R300 billion government has to spend on service delivery. The interesting thing is the money is there to be spent, but our processes are not developed [adequately]," he says.
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