In 2019, K2fly completed the acquisition of RCubed, a resource and reserve reporting software solution from Prodmark Pty Ltd. The software solution complements Infoscope, and enables K2fly to diversify its product offering. RCubed is also targeted toward asset-intensive industries, and has been a large driver of sales growth.
Through the Co-Innovation Lab (COIL) program with SAP SE (Germany), Infoscope was integrated within SAP S/4HANA during April 2018. This has provided opportunities to branch out across the ecosystem.
Infoscope is delivering a holistic solution for mining companies to manage their tenements on the SAP Cloud Platform.
In June 2018, the Infoscope tenement management solution was added to the SAP App Store meaning that 70+ mining sales execs at SAP can now sell the software.
The United States Securities and Exchange Commission (SEC) has altered legislation regarding compliance, reporting, and governance within the mining industry. These changes come into effect in 2021, and are causing large corporations to search for solutions. This is where RCubed steps in.
RCubed systemises work which was previously done through a complex and risky internal process, over reliant on individuals and spreadsheets. Workflows are automated, and integrated with calendars and email. RCubed ensures a clear and transparent reporting cycle. It provides full audit trails and and gives auditors as much information as they require.
It becomes the essential single version of truth from the last reporting cycle as far back as analysts would like. This data in turn is shared via management or reporting portals thus providing self service kiosks and removing the burden on the MRRR team to respond to multiple requests for data. RCubed can become the single source of multiple and historical mineral planning and operational data. RCubed manages all changes to regulations around mineral resource and reserves reporting of the NYSE, TSX, ASX and SAMREC for its customers.