ERP Software Solutions for Exploration Mining

hiking to joffre gorge lookout in karijini national park
For exploration and start-up mining companies, the best ERP is usually not the biggest mining ERP. It’s the one that fits your stage of mine and that grows with you.
Exploration companies often need to prioritise finance, project accounting, procurement, approvals, multi-entity, JV cost tracking, fixed assets, and easy reporting.
 
Exploration ventures require careful capital planning and a strong focus on keeping costs low. When companies look for ERP solutions that report on active tenements, expenditures, payroll, and other metrics, they often find that most options are cost-prohibitive and lack the functionality they need. Because of this, many companies use a combination of spreadsheets and a lower-cost system to avoid the initial costs of adopting an ERP solution. However, using separate tools to report different requirements leaves room for error and creates additional administrative work, particularly when submitting reporting requirements. When looking for an ERP solution, there are 3 key areas we believe that exploration companies need to consider.

1. Can it manage your tenements?

One of the most important tasks an exploration mining company must do is to report on its tenements. There is a significant amount of legislation in Australia governing the land permits and permissions required by exploration ventures to conduct exploration activities. To maintain ownership of these leases, organisations need to provide frequent reports to regulatory authorities as part of Form 5 compliance.

Missing mandatory reporting dates or incorrectly allocating expenditures across your tenements can cause financial penalties. When looking for a system, you should consider whether it can do anniversary date-based reporting, generate Automated Form 5, and integrate with your general ledger for spend tracking.

2. Can it perform key financial functions

On the financial side, there are two core aspects to consider. Firstly, the expenditure associated with your tenements needs to be linked to your general ledger. Without this, you will have difficulty assigning costs, either by percentage or one-by-one, to your tenement portfolio.
 
The second aspect is your more standard financial concerns, such as payroll, cash flow and joint venture reporting. These are usually bundled within a larger enterprise system and can be fairly cost-prohibitive for more junior explorers.

3. Can it grow alongside your company?

Investing time and money in an ERP system only to realise you are quickly outgrowing it is a trap we see many companies fall into. Some exploration companies fail to account for the growth of their mine and their needs, and jump onto a cheap solution rather than one that will grow with them. This is often a forgotten aspect when choosing a system. To negate this, an exploration company can act more strategically by investing in a scalable system that can grow as needed.

What we offer

At Scope Systems, we offer a lower-cost exploration solution using Pronto Xi as its core, so that as you grow, your system can still grow with you without the need to “rip and replace.” Our exploration solution is a pre-packed and contains everything explorers need, including financials, reporting and tenement management. It is also offered as a SaaS product, so there is no large upfront outlay; instead, it’s billed monthly, making it easier to justify for smaller operations. We offer various licensing agreements for our ERP solution, enabling software that integrates with other systems to increase functionality. This reduces costs while providing a powerful, tailored solution.

 
 
 

What exploration ERP is right for me?

We’ve worked with many exploration mining companies, developing lower-cost, scalable solutions to meet their needs. We understand the challenges and reporting requirements exploration companies must meet. If you’re ready for an ERP solution that meets the core needs of exploration ventures and is available on a monthly lease, get in touch.

 
 

Frequently Asked Questions

What is the best ERP software for exploration mining companies?
An ERP solution that meets all of your requirements is the best fit for your company. Generally, you should look for one that covers, or can be extended to look after finances and tenements, and can grow with your company.
 
Exploration mining companies should invest in ERP software when they need to report on tenements and track costs against them.
Yes, an ERP solution hosted in the cloud can be ideal for exploration sites due to the ease of access. SaaS solutions also have no large upfront outlay instead, they are often billed monthly, making it easier to justify for smaller operations.
Yes, junior miners should invest in an ERP solution before moving into production. This helps them have greater control over their finances and operations, and with investor and governance confidence.

Latest Posts

Contact us

* indicates required field

 

By submitting this form, I accept the Privacy Policy.

Contact our Sales team

* indicates required field

 

By submitting this form, I accept the Privacy Policy.

Contact our BI team

* indicates required field

 

By submitting this form, I accept the Privacy Policy.

Cloud Hosting Enquiry

* indicates required field

 

By submitting this form, I accept the Privacy Policy.