REFLEX is pleased to announce the inclusion of its Schedule of Rates (SoR) and Production Planning modules to its already well regarded REFLEX HUB Solution. The secure, cloud based solution is currently trusted by high profile resource companies around the globe, providing immediate access to reliable data, anywhere and at any time.
At a time when budgets are tightening daily and expenses need to be carefully monitored to ensure the mere survival of many resource companies, good planning, budgeting and real-time monitoring of the same has become essential.
“The ability to view, in real time, current expenditure and to then compare it to what has been forecast,” said REFLEX’s Michelle Carey, Global Project Manager – Data Solutions, “is proving invaluable for those already using our newly added modules.”
The REFLEX Schedule of Rates (SoR) allows the tracking of current expenditure and the reconciliation of contractor invoices on a shift by shift basis, so any discrepancies can be resolved, or corrective action taken, immediately.
“With the ability to input their own rates and measurement parameters, forecasting and invoicing is accurate and reliable,” said Carey. “The data on which this is based has prior approval which assures its accuracy.”
On larger or multiple projects where a number of contractors may be employed, easy replication of all standard rates, activities and consumables simplifies the generation of new and accurate SoRs for each project, while rate increases can be activated across all projects on a predetermined date. Reporting, as a result, is more accurate and reliable, being based on verified, consistent information.
The ability to track current versus planned activity through the REFLEX Production Planning module has proved effective in ensuring a project remains within budget and scope.
“Customers currently using the Production Planning module are confident their goals are realistic as the plan is based on accurate, actual performance data. This also allows them to monitor ongoing project progress to ensure it is consistent with these goals,” explained Carey on the value of real-time tracking of current activities.
“Any necessary changes to the plan can then be made as required, rather than risking losing time and incurring significant costs when issues are detected later.”
Current users are already seeing the benefits of the REFLEX solution with the Exploration Planning and Reporting Manager at a well regarded resource company saying, “This (the REFLEX Solution) has resulted in significant operational efficiencies that are already adding value to our business”.
With demands for further efficiencies in production and tight controls on expenditure, commonplace in an industry under pressure to perform, REFLEX’s new SoR and Production Planning modules are proving to be essential enablers in achieving these efficiencies and reducing the risk of delays and cost blowouts.