Being tenacious... adding value to the value chain
Not only are the businesses in Absa’s Supplier Development programme (run by Absa Group Procurement) provided with preferential financial products and assistance, but they also receive expert mentoring and training; equipping owners with the financial and operational skills they need to run a successful enterprise. Here’s how SystemicLogic capitalised on the opportunity…
Although Audrey Mothupi’s blood is blue - thanks to the extensive experience she gained at Liberty and Standard Bank - she is adamant that her business is red, because of the unwavering support Absa has provided her during her quest to establish her own tech business.
There is no doubt that being female in a somewhat male dominated space isn’t easy. Audrey acknowledges that your voice has to be significantly louder, and you have to climb many more steps than your male counterparts, in order to thrive. Her philosophy? “Don’t be angry and paralysed, rather be angry and succeed.”
Audrey’s plan was to gain as much knowledge from working in corporate as possible, and then transferring these insights into igniting her entrepreneurial vision of starting a business. This was the thought process that brought SystemicLogic to life. SystemicLogic is a global financial innovation and technology firm with a leading edge in innovation and nascent business strategy.
Partnership of possibilities
The company’s key differentiators? Visualising goals, fully understanding a client’s problem statement, hunger for growth and speed of execution. Finding a suitable banking partner was key to achieving these ideals. Absa provided a line of credit so debit orders and salaries could be paid while cash was still coming in, and invited SystemicLogic to form part of its Supplier Development programme.
Tough lessons learned along the way included losing good people to competitors, being let down by employees and having to make difficult decisions very quickly. Audrey’s advice to entrepreneurs is that they need to continuously ‘self-disrupt’: “Don’t get into a comfort zone, continue to be creative and innovative and always find opportunities to disrupt.”