CASPEO adds business intelligence capabilities to its metal accounting solution INVENTEO
As an expert in processes of the mineral industry, CASPEO enhances production and inventory data beyond data reconciliation and mass balance by delivering accurate, timely and valuable insights to generate reports and dashboards and to make better and faster decisions. An opportunity for CASPEO to explain its original positioning on metallurgical accounting.
Orléans (France), March 11th, 2021 – Leading provider of mining software and consulting services to metals, minerals and mining industries, CASPEO announces the availability of data analytics tools in its metallurgical accounting solution, INVENTEO pushing it even more to industry 4.0 standards.
Metal accounting is one of the main tools for management of metal production industry. It aims to get the most complete and accurate picture of the performance of a plant in order to guide decision making. It combines financial challenges linked to corporate governance and regulations and technical ones regarding process optimization. Metallurgical accounting systems enhance production and inventory data along the mining value chain. However, collect and aggregate data from various sources is not sufficient to provide a reliable metal accounting system.
Sampling and measurement, the foundation for accurate metal balance
Mining companies are required to report accurate and precise data for financial accounts: recoveries and grades, quantity of saleable metals, accurate estimates of inventories (work in progress, intermediate products, stockpiles…). Due to production variability, process inefficiencies, forecasting errors, these tasks are very challenging without an efficient and reliable system to quantify material movements, losses/gains, and emissions.
Thus, the starting point of a true metallurgical accounting system is a precise understanding of the process operations, including the follow-up procedures, based on sampling and measurements. It is common to say about metal accounting software that if it uses bad data, it produces bad results, often summarized as: “garbage in, garbage out”.
Pioneer in the implementation of such system, CASPEO has developed, for more than 15 years, a complete offer, called INVENTEO, to help plant management to switch from spreadsheets or database-driven solution to an efficient metal accounting system pushing mining and metals industry to a next digitalization level. Designed for mining, mineral processing, hydrometallurgy, smelting, and refining operations, INVENTEO is quite differentiating in the market.
To note: INVENTEO is an off-the-shelf solution for metallurgical accounting, requiring no specific development, only configuration. Thanks to the transparency about the calculation methods (required by the AMIRA code), as well as training and mentoring, teams are able to be more responsive to any change in the processes and to integrate modifications without being dependent on a supplier.
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Leverage algorithms to improve data
Metal accounting platforms performs automatic acquisition of data from existing databases (SCADA, LIMS, Historians…) to create a single basis data to manage metallurgical balance accessible by financial, mining, metallurgy, and operational divisions. True metal accounting systems such as INVENTEO do more by improving data quality thanks to robust data reconciliation algorithms. This represents a milestone in Smart Mining.
“INVENTEO’s embedded algorithm allows obtaining consistent material balance from raw data, improving the accuracy of data by a statistical distribution of measurement errors based on maximum of probability, and allowing data quality checking”, explains Stéphane Brochot, CASPEO other co-Managing Director. “Measurement and sampling errors are associated with all material flows and stocks in the plant: products, raw materials, utilities, reagent and effluents.”
INVENTEO ensures traceability and workflow all in compliance with the best practice of AMIRA code. The data reconciliation being based on the measurement error, it includes tolerances about the acceptable imbalances. INVENTEO allows to define range of expected values and generate warning when out of it.
Business intelligence, the step forward
All generated data –basis data and reconciled data– are stored in the INVENTEO database with intermediate calculations allowing auditing. All reports are generated from these data. INVENTEO delivers metal balances for all the streams, metallurgical inventories and work-in-progress, in quantity and quality.
Having the right information, in a single place and at the right time; this is what decision-makers are asking for. It is why CASPEO has decided to boost the reporting part of its metallurgical accounting software by adding business intelligence features. To turn data into insights, a system has been developed that makes it possible to directly query the INVENTEO database and thus to easily create more visual reports (tables, graphs or dashboards).
INVENTEO encourages sharing of information, while maintaining the levels of privacy and security that are needed. Thanks to this feature, it can be now interfaced with Business or Operational Intelligence solutions such as Power BI, PI Vision, Tableau… It also facilitates the implementation of Extract Transform and Load (ETL) process, to integrate the produced data in larger data warehouses and make it available for business analysis at a wider scale.
INVENTEO also allows the generation of timely reports (month-to-date, quarter-to-date…) in addition to fix periods ones attached to financial and legal purposes. It provides stakeholders insights in a timely manner to monitor and assess an operational situation. INVENTEO enables to make faster and better decision.
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