About Macmahon
Macmahon is an ASX listed company that offers a variety of mining services in Australia and Southeast Asia processing hundreds of CapEx requests a year.
The Challenge
Transition from manual to automatic tracking. As a large mining contractor company with hundreds of individual CapEx requests each year with expansion on the horizon, Macmahon wanted to transit from spreadsheet based manual processes to automatic processes. The current manual processes were susceptible to human errors and made tracking of capital requests problematic.
The process involved data entry using spreadsheets and submitting CapEx requests for approval via emails and hard copies. Some of these CapEx requests would take several weeks for approval, delaying growth and cost saving projects. Human errors and lost requests occurred, resulting in time lost in rectifying issues. Extracting meaningful information for approvers to understand the company’s capital position were also becoming a tedious process as the company grows larger in size and complexity.
Macmahon’s capital requests were relatively fluid and could change fast during the year depending on new requirements and jobs won. This may involve requests with multiyear and multi-currency requirements. Managing this on spreadsheets and presenting information to management took considerable time and was prone to human errors.
The Solution
CapEx360™ software to manage the project lifecycle. The software would digitize and automate most of the tasks and processes from budgeting, to forecasts and project closing, fixed asset creation and post investment review.
Budgets can be uploaded directly into the system. CER (Capital Expenditure Request) forms can easily be filled out for submission within the software. Once requests are submitted, reviewers automatically receive an email notification prompting timely review and approval. The system has mandatory fields to ensure all categories and criteria are selected and filled in. All forms in any state/status are tracked and traceable throughout the workflow. Users can attach supporting documents.
The system performs automatic calculations such as NPV, IRR and payback. The system also shows actuals vs budgeted spend.
The system generates multiple accounting reports within seconds with data that is already in the system. These reports can also be edited and filtered.
Caprivi Solutions is the manufacturer of the Capex360™ software, leading in development and deployment of a state of the art 360-degree Capital Expenditure (CapEx) solution.
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