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API Management Drives Compliance in Mining With Cloud Procurement and Contract Management Solution
API Management, through the Australian Premium Iron Joint Venture (APIJV), manages an iron ore export operation in the Pilbara region of Western Australia, where it controls a large mining tenement portfolio comprising 8000 km². The joint venture is managed by API Management Pty Ltd (APIM), which is based in Perth.
API Management was looking for a web-based Procurement and Contract Management solution that would automate procurement and document approval processes, and be able to handle organisation-specific policies, especially those around contract variations and extensions. The system would need to ensure that all procurement and contract activities were compliant.
- Spreadsheets and manual process handling were becoming cumbersome and error-prone.
- Contract variations and extensions dates needed to be tracked, and notifications set up, to avoid missed end-dates and inadequate lead times.
- The company needed a way to ensure that procurement and contract procedures were in compliance with policy.
- By standardising, digitising and automating procurement and contract management processes, the whole lifecycle can now be managed according to business rules.
- Automated notifications ensure no deadlines are missed and that those responsible for contract variations and extensions have time to work on the documents. Functionality for bulk contract variations and extensions is now also provided.
- Business rules and policies, including approvals, have been built into the automated workflows, which has the added benefit of keeping contract lifecycles visible.
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