QBS Technology Group
Focus: Distributor/software platform with £142m revenues
Date certified as B Corp: August 2022
Representative: Dave Stevinson, CEO
Hi Dave. Why did you want to become a B Corp?
QBS Software chose to join the B Corp movement for the following reasons, It was a way of publicly showing our dedication to ESG through independent verified evidence following a trusted rigorous third party audit and certification. The value alignment between both ourselves and B Corp with similar ambitions across a broader stakeholder base that we hoped would give us a voice in shaping future governance together with the B Corp movement
What’s your advice for other IT providers weighing up whether to follow your lead?
QBS Software is a big advocate of B Corp – and if your company can afford the time and money to turn your business into a force for good – then don’t hesitate. If anyone needs any help on the journey or any guidance then I am very happy to offer my assistance.
What was the most challenging aspect of the certification process?
The patience: waiting for B Corp to process the huge backlog of B Corps waiting for audit and certification.
Is it worth it?
Absolutely and unequivocally. Balancing the long-term impact of ESG over and above the short-term impact on shareholder primacy. The B Corp certification allows a simple logo to signal that the company is a force for good.
“It is my considered belief that a company’s ESG rating will rank equally as important as their credit rating in the future”
How long did the process take?
Between 12 and 24 months to complete the audit, provide verification and wait for certification.
Did you make any missteps or mistakes during the process?
Yes lots – our data quality needed improving in several areas.
What’s the biggest business benefit of becoming a B Corp?
It makes it much easier to explain and articulate what QBS Software stands for – through an ESG lens. We feel belonging to the B Corp movement means that others get a feeling for our values, beliefs and how we run the business for a broader stakeholder base.
What’s the biggest misconception around B Corps?
Probably that B Corps are only consumer companies.
Were there any other comparable certifications you considered pursuing, and if so what made you plump for B Corp?
There are many standards and certifications – we subscribe to many such as CDP, SBTI, PAS2060, ISO14001, UN SDG etc. We felt that the B Corp was the standard that was the most sophisticated and with the most rigorous certification process.
How much did certifying cost you, either in money or management time?
In total we invested a six-figure sum in to becoming a B Corporation. The B Corp fee was £36,000 and then there was management time, consultants and NRE relating to meeting the standards. Then there is the ongoing management expenses. It is my considered belief that a company’s ESG rating will rank equally as important as their credit rating in the future.
