For any organization with heavy assets, the search for enterprise resource management (ERP) software can be challenging. There are sophisticated requirements at play and heavy costs associated with new systems. And when a mine is trying to maximize investment benefit while dealing with the inherent volatility and risk of the industry, any expenditure must make sense to their operations.
“From early-stage exploration to full-on production, every decision a mining company makes needs to create deep, positive improvements to all facets of their business — planning, job costing, inventory, maintenance, analytics, compliance and so much more,” says Rory Friedman, who leads Illumiti’s mining practice. “By utilizing cloud-based technology, we’re at the forefront of providing affordable, high quality ERP solutions to junior mines.”
SAP is a leader in ERP, which is the integrated management of main business processes using the latest technology and software. As an SAP reseller, Illumiti implements and manages the software that helps companies keep track of their transactions and activities across their various operations.
“We understand how complex mining companies are, regardless of where they are in their lifecycle. With SAP Business ByDesign, we’ve developed a template specific to the needs of junior mining companies. It’s world-class, cloud-based software at a price that starts as low as $150,000. Having a system that is respected by different accounting companies helps them show what they are doing is above board and follows best practices,” Friedman says.
Illumiti is a market leader today when it comes to working with miners, with approximately 30 companies on its roster operating in more than 60 mines around the world. Some of its clients include Alamos Gold Inc., Capstone Mining Corp., Detour Gold Corp., Eldorado Gold Corp., Imperial Metals Corp., Lundin Mining Corp., and TMAC Resources Inc.
The SAP systems it deploys today also complement the growing use of automation, artificial intelligence and machine learning at mining companies to improve efficiencies and control costs. Illumiti is a leading innovator in SAP applications, business intelligence, mobility and cloud solutions.
What’s more, Illumiti’s Business ByDesign template can be plugged into mining operations relatively quickly and easily, given their similarities across the industry. It means a faster set up time of about 12-to-16 weeks instead of one-to-two years.
“We don’t need to discuss how to procure or how to maintain. We have a template that works for everyone,” Friedman says. “We believe that getting on the system as quickly as possible is a benefit to the business.”
For instance, he says a company might start with finance and procurement, then add on payroll and then health and safety components after that. “We don’t want to spend two years implementing 100 features. We would rather implement the 20 most important features quickly and get the company on the system because there is huge value in it. It not only runs the operations more efficiently, but also helps miners better understand what’s happening by analyzing information in the system.”
For most miners, the first elements put in place are usually financials (the general ledger, accounts payable and project costing), then fixed assets (the equipment and buildings and their depreciation), procurement (buying of operating supplies), warehouse (inventory), and equipment maintenance.
Illumiti’s SAP systems help miners leverage pre-configured processes, meet and exceed best practices and expand upon mining industry expertise.
“We can help them optimize their resource in a way that sees them get the most efficiency out of their assets,” Friedman says. “An investment in mining-ready ERP software is critical. It needs to provide a mine, especially a junior organization, the ability to take control of all critical processes, increase efficiencies, and streamline operations. But it doesn’t have to cost millions of dollars to implement.”
He believes the main difference between Illumiti and other ERP firms is that Illumiti knows what works best for miners, and how to implement it.
“We don’t try to reinvent the wheel,” he says. “We know what people are using and try to deploy that in an accelerated and low-risk manner as possible. We’re just giving them an affordable option to consider.”
— The preceding Joint-Venture Article is PROMOTED CONTENT sponsored by Illumiti and produced in cooperation with The Northern Miner. Visit illumiti.com for more information.