MOROBE MINING JV
Morobe Mining JV is a 50-50 joint venture between Harmony Gold Mining Corporation and Newcrest Mining Limited. MMJV was established for the purpose of exploring,
developing and operating mines in the Morobe Province of Papua New Guinea. Hidden Valley is the first operation developed into a mine. The mine is an open pit silver and gold mine.
Morobe Mining Joint Venture had a requirement to ensure that people on site were managing their costs effectively.
The process they had in place, utilised Excel and relied on the Finance team to collate, manipulate and distribute Cost spreadsheets on a monthly basis. This
process was ineffective because of the effort spent by the financial team to produce the reports, the timeliness (finalised one week after month-end), the frequency (produced once per month), and the inability to analyse costs in the format that was presented.
The key requirements of the project were:
- Deliver a solution that would allow the analysis of their operational costs using the business structures currently in place,
- All GM’s, Managers, Superintendents, Accountants and Business Analyst to have an up to date view of the operational costs for the mine and their area of the business,
- To be effective, the delivery had to be intuitive to use,
- Provide updated information throughout the month,
- Greatly reduce the delivery time and effort to distribute cost information.
The challenge presented to Far Data Solutions was to liaise with the Finance, IT and Operational teams, working remotely to reduce project costs and deliver a solution to a tight budget and timeframe.
BusinessAnalyser™ was the solution introduced into MMJV
BusinessAnalyser™ is a user-friendly business focused solution targeted towards organisations that need to understand and manage their operating costs.
Operating Costs can be viewed from a high level and intuitively driven down through a variety of structures to lower levels. Users can compare operating costs to plan and reforecast, view variances and interrogate costs down to transaction level detail.
BusinessAnalyser™ allows people to actively analyse and manage their expenditure in a system that requires little training, in a system that provides up to date information from a single, consistent and reliable source.
BusinessAnalyser™ benefits include:
- Ability to interrogate costs across any structure and period of time
- Allows focus on cost interpretation rather than data collation
- Highlights issues for corrective actions
- Readily adapted to changing business circumstances
- Managed and administered by non IT people
- Identifies data issues in source systems
- Adds value to the planning process
- Low Total Cost of Ownership – it is a fully developed solution
- No upfront Capital Costs
- Web based solution allowing remote access
- Low infrastructure requirements
The outcomes were successfully achieved by working closely with the Finance Team to ensure that they were able to support their business users in the use of BusinessAnalyser™ and to configure the product as business changes were made.
- BusinessAnalyser™ was installed and configure ahead of schedule,
- BusinessAnalyser™ is updated automatically, saving MMJV considerable time and cost,
- Through BusinessAnalyser™, people now have an up to date picture of their operating cost (updated daily),
- GM, Managers and Supers were trained by the MMJV Finance team to use BusinessAnalyser™. This process took little time due to the intuitive nature of BusinessAnalyser™ and now 20 people use the system on a regular basis,
- BusinessAnalyser™ highlighted issues with the account structure, the budgeting process, and how costs are recorded,
- The analytical capability of BusinessAnalyser™ now allows MMJV to analyse costs in a variety of ways and is heavily used by the Commercial department
- Changes to the business structure are now quickly reflected in BusinessAnalyser™
What our Client Thought
“BusinessAnalyser provides us the capability to review our costs in a variety of ways, from high level through transactional drill down. It is a powerful yet
simple to use tool that provides reporting capability and flexibility beyond that which is typically available. You have no idea the heartache of trying to pull excel reports together”
Mark Somlyay – Commercial Manager Morobe Mining Joint Venture