Leading Australian ERP vendor Pronto Software has kick-started the year with a deal to implement its flagship ERP solution, PRONTO-Xi, by aggressive Australian gold miner, CitiGOLD Corporation.
CitGOLD is one of Australia’s fastest-growing gold producers, with a market capitalisation of $300 million, annual revenues of $12 million, a steady increase in the share price for the last five years, and plans to increase gold production from its Charters Towers Gold Project in far north Queensland from 40,000 ounces to 250,000 ounces within the next five years.
CitiGOLD Chief Operating Officer Chris Towsey said PRONTO-Xi was not only able to offer a robust, scalable solution to accommodate its aggressive growth plans, but tools to meet some industry-specific cost reporting requirements.
As he explains, “We needed more than an incumbent accounting system, as that alone does not provide the integrated financial management and reporting solution required to track and measure quite specific costs.
“For the mining industry, cost control is critical, as we don’t control the selling price of what we produce - the market and our customers do. So our ability to increase profit margins is based on our ability to control exploration and production costs.
“In this regard, PRONTO-Xi offered two appealing features; the ability to handle laboratory assays and quality control data - that is, chemical analysis, and reporting exploration costs against tenements which is a very unusual activity for business software producers,” Towsey said.
CitiGOLD has selected a range of PRONTO-Xi modules including Financials, Distribution, Project Costing Management, Payroll, Screen Customiser and Faxmail.
Pronto Software’s Managing Director, David Jackman, said his business has a strong track record in the mining industry. “PRONTO-Xi’s functionality is a key advantage in this industry and our experience has allowed us to clearly demonstrate how our product can directly assist CitiGOLD meet their strict reporting requirements.”
Towsey also noted that Pronto had strong customer referencability. “We were referred to a number of customers who were similar to us in terms of mining operations and how they were using PRONTO-Xi. We got the same answer from all of them: it did everything they wanted it to at a very good price.
“We also received excellent service from Pronto Software and appreciated their professional approach and industry knowledge.”
PRONTO-Xi is due to go live in the first half of this year.