RungePincockMinarco(RPM) has entered into an agreement to acquire 100% of the issued share capital of iSolutions, software developer with more than 20 years of experience in providing of asset management, life cycle costing and budgeting software solutions to the mining business. The combination will create the only single vendor production and maintenance enterprise execution system in the market, according to RPM. This system will reduce the costs for mine operators as both the production and maintenance teams will be using the same software to maximize the operational efficiency and productivity of their mobile mining equipment.
“Today as companies push to drive capital and operating costs down, it’s this area that presents the best opportunity for additional savings,” said Richard Mathews, managing director and CEO, RPM. “With the combined expertise of iSolutions and RPM, there is no software company in the world that has a better in-depth knowledge of the real costs associated with maintaining these essential pieces of equipment and the optimization of the maintenance strategies by which these costs can be minimised within mining.”
iSolutions is a global software company headquartered in Sydney, Australia with more than 45 employees based across offices in Sydney, Brisbane, Santiago and Johannesburg.
Many mining companies use iSolutions’ flagship AMT software to track and manage the repair and maintenance of mining equipment (shovels, haul trucks, dozers, graders etc.). The addition of iSolutions software products will extend RPM’s leadership in the areas of mine planning, scheduling, execution, simulation and financial costing and budgeting.
At the heart of the iSolutions suite of products is their Dynamic Lifecycle Costing (DLCC) engine. DLCC is the process of forecasting (in real time) every maintenance event for an asset to the end of its useful life including the expected future cost and performance of the asset. This functionality enables asset managers to easily identify potential issues and take action early, saving money and avoiding costly downtime.
“For the last 20 years, we have worked tirelessly building software solutions for companies that sell, manage, repair and maintain large mining equipment,” said Co-founder and Managing Director of iSolution Graeme Elgie. “We have always wanted our products to be integrated with the industry’s leading production, costing and simulation systems and this transaction does exactly that.”
Being SAP, Oracle and JDE certified, AMT extends and complements the capabilities of traditional Enterprise Resource Planning (ERP) systems in the asset management space. RPM already works very closely with SAP and, as such, this transaction strengthens what is already a very complementary working relationship.