In previous posts we’ve discussed how vital it is that mining companies invest in technologies that enable them to keep pace with the industry’s innate challenges. In short, mining’s future prosperity relies on improving productivity by making use of innovative digital solutions.
But how do you know which solution is right for you, and what should you consider before investing company money in new software?
Perhaps the most important point to make is that embracing technology needs to happen as part of a broader change in the way mining is envisioned and carried out. The McKinsey & Company report How digital innovation can improve mining productivity argues that innovation needs to be seen by industry leaders “as an undertaking that encompasses all aspects of the business, rather than a technology effort”.
This fundamental shift is necessary for mining companies to draw real value from digitisation: “In particular, much of the value creation in mining will shift from how well the operation moves material to how well it collects, analyzes, and acts on information to move material more productively”.
Rather than investing in technology and hoping it will create value on its own, mining companies need teams that are able to understand both mining operations and technologies, so that new tech can be integrated effectively into operations and the results measured.
What about the people?
McKinsey & Company note that technologies are of limited help if they’re implemented without regard for the people who’ll be using them:
“From our work on big data across industries, we know that technology – data, analytics, and systems – is only part of the answer. Changes are needed in processes and people to most effectively implement technology and the new ways of working that it makes possible. Successful miners will set an integrated vision from data to systems to core processes to people capabilities, recognizing that new technologies only create value if they change the way people work and make decisions.”
A large part of the responsibility for integrating technologies with processes, decision-making and people must lie with the top executive team. McKinsey & Company stress that clear ownership of innovation needs to be built into the upper rungs of management, which means “refining the organizational design to create meaningful senior roles for people with technical skills, and redesigning the annual planning and performance-management process to create space for innovation”.
The Commit Works approach
At Commit Works, we’re passionate about showing our clients how to get the most from our software. Our demo sessions provide an opportunity for prospective users to explore how Commit Works can drive measurable business value. We’ll show you how our technology is reshaping business models and enabling companies to gain a competitive advantage.
Contact us to see how we can help you plan, track performance and stay on budget to improve your bottom line.