Caterpillar Venture Capital Inc. has invested in Alight, Inc., in a move to leverage expertise in financial forecasting and scenario analysis. Alight's software has a module designed specifically for mining, and the company's technology can allow equipment managers to see the financial impact of a machine purchase on operations before the decision is made, Caterpillar says.
Caterpillar, in a release announcing the investment, said it has begun discussions with Alight Mining Solutions to develop enhanced solutions that will combine data from technology-enabled machines with financial forecasting software to help mining companies make more real-time business decisions.
Alight’s cloud-based products allow users to pull data from other systems such as Cat MineStar, quickly run multiple scenarios to facilitate financial decision making and then create enterprise-level financial forecasts, the company said.
Alight CEO Michele McGovern refered to Caterpillar's "huge quantities of rich information" that can be used with Alright software to drive decisions.
Combining Alight’s software with Cat MineStar will allow production data such as tons-moved to be viewed in context of financial information such as costs and revenues, helping miners make assessments at the site level and analyze strategic opportunities throughout the enterprise, Caterpillar said.
“Our mining customers make decisions on very large capital investments, in market conditions that are constantly changing,” said Jim Hawkins, managing director of mining technology. “We believe that the solutions we are looking to develop with Alight could help them better understand the impact of these decisions on production and operations as well as on profit margins and cash flow.”