RPMGlobal has unveiled major functionality upgrades in the latest release of its dedicated asset lifecycle costing software – AMT, designed to, it says, accelerate the maintenance budget generation process for miners.

In the release of AMT 8.21, improved maintenance budgeting integration is a key focus, with upgrades drastically improving the speed of the budgeting and forecasting process.

“AMT is already one of the only products on the market that is purpose-built for maintenance cost budgeting that works seamlessly with any miner’s ERP, and this functionality upgrade will further reduce the time it takes teams to produce maintenance budgets,” the company said.

The ability to conduct real-time, zero-based maintenance budgeting instead of relying on static maintenance plans helps operations gauge the true costs of operating equipment, according to the company.

RPMGlobal Chief Technology Officer, Paul Beesley, said innovative technologies such as AMT formed the foundation for smarter asset management decision making.

“As the leading maintenance cost budgeting solution specifically designed for the mining industry, this release has been about taking our clients’ feedback and advancing the maintenance cost budgeting component of AMT’s functionality,” he said.

“With many of our global customers in budget planning mode, this release comes at a great time for operations seeking to speed up analysis of different budget and forecasting options, which leads to improved accuracy and decision making.”

While the focus on this release is centred on upgrading the maintenance budgeting integration process, AMT 8.21 also includes several usability enhancements that improve the experience of the Asset Manager, according to the company.

Some of the notable enhancements include Dynamic Life Cycle Costing engine performance improvements, depreciation forecasting, standard job versions that supports baselining changes made to maintenance strategies, new and redesigned reports, and other functionality enhancements.

AMT is used by hundreds of mine sites worldwide as well as all major OEMs to manage their assets and asset maintenance contracts, according to the company. “With AMT, operators have a holistic life cycle cost view of their asset base to deliver proactive asset management capability,” it said.

At the core of RPMGlobal’s powerful asset management solution is a unique Dynamic Life Cycle Costing engine which enables organisations to be proactive about asset management. As a result, miners have the ability to control and curtail maintenance costs, identify asset life cycle risks and opportunities, and reduce unplanned downtime.

RPMGlobal Chief Executive Officer, Richard Mathews, said: “RPMGlobal’s investment commitment in the industry’s leading asset management solution would continue apace, with additional exciting releases planned over the next 12 months.

“AMT is a major part of our business, and with every release, more enterprise functionality and integration is added.

“We anticipate mining companies will remain focused on keeping their operational costs as low as possible as they seek to unlock greater value from operations. AMT is the proven solution that enables our customers to identify asset lifecycle risks and opportunities to control and reduce maintenance spend which is vital in this current environment.”