Nordgold and Columbus combine to launch innovative new financial software solution designed specifically for gold miners
LONDON,, Sept. 14, 2021 /PRNewswire/ -- Nord Gold plc ("Nordgold" or the "Company"), the internationally diversified one million ounce gold producer and global IT consultancy Columbus are pleased to announce the launch of "CN Planning Analytics for the Mining Industry", an innovative corporate finance software solution tailored specifically to meet the challenges of the resources industry, in particular the gold sector.
CN Planning Analytics is a highly effective software-based tool which provides a user friendly interface that facilitates the transparent planning, measurement, monitoring and reporting of gold mining companies' financial and operating performance. The tool is now available on the IBM Global Solutions Directory.
CN Planning Analytics was designed to address gold miners' common challenges when planning, measuring, monitoring and reporting their activities. In particular, CN Planning Analytics:
- aggregates all operating and financial data in one reliable and customisable place with all IFRS and Non-IFRS Metrics based on industry methodologies;
- provides the ability to identify the primary source of any change in performance in a matter of seconds;
- automatically generates a full reporting pack immediately after the period end;
- compares company performance with industry best practices and peers; and
- provides an effective and straightforward tool to manage capex projects' life cycle, which includes tracking approvals, budget vs actual analysis and post-investment reviews.
The software includes preconfigured budgeting and management reporting models based on industry-specific KPIs. It is designed to work with different types of mining methods including open pit, underground and mixed as well as gold processing technologies (CIL, CIP, heap leaching and BIOX). CN Planning Analytics also allows data from mine planning IT platforms to be integrated into the gold mine's financial models, which, among other things, streamlines and facilitates long-term strategic financial planning.
Dmitry Markeev, Director of Transformation and Business System Development of Nordgold, said:
"Having worked together with Columbus to successfully develop a powerful and convenient software-based management tool to support the financial management of our own operations, we recognized we had built a system that could benefit other companies in the sector as well, presenting an interesting commercial opportunity for both parties. What sets CN Planning Analytics apart is its unique focus on gold mining company performance and the fact it is adaptable to all mining and processing technologies. At Nordgold, we continue to invest in our IT capabilities which helps us drive performance, in particular as we move forward on our ambitious growth plans in the Gross region in Russia, where we have built a market leading position."
Andrey Yudaev, Business Development Director for Information and Analytical Systems at Columbus, said:
"Partnering with Nordgold to develop CN Planning Analytics was a unique collaboration that allowed us to combine the practical business experience of a mining company with the industry and product expertise of a consultancy. The solution's functionality has been proven by IBM and by its high performance in automating Nordgold's real-world business processes. These are the prerequisite that help us guarantee the business value of this solution to future users".
Enquiries
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About Nordgold
Nordgold is an internationally diversified one million ounce gold producer with about 7,800 people operating a portfolio of nine mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas. Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner. Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.
For further information on Nordgold please visit the Company's website: www.nordgold.com
About Columbus
Columbus is a global digital consultancy headquartered in Denmark. For +30 years, we have helped more than 5.000 ambitious companies transform, maximize, and futureproof their business digitally. Columbus employs more than 1,800 digital advisors and consultants focused on the manufacturing-, retail & distribution-, and food & process industries. We offer end-to-end digital services and solutions within Strategy & Change, Cloud ERP, Data & Analytics, Application Management, Digital Commerce, and Customer Experience. Columbus has offices and partners all over the world and we deliver our solutions and services locally – on a global scale. Columbus A/S is listed on Nasdaq Copenhagen – COLUM
For more information visit www.columbusglobal.com
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