Ramelius Resources digitises its financial controls

Overview

Perth-based Ramelius Resources Limited listed on the ASX in 2003 and is a well-established mid-tier Australian gold mining company with operations across Western Australia. Ramelius has processing centres at Mt Magnet and Edna May and operates five gold operations with ore from the Penny Gold Mine being hauled to, and processed at, Mt Magnet and ore from the Tampia and Marda Gold Mines being hauled to, and processed at, Edna May, Vivien, Marda, Tampia and Penny, all situated in Western Australia.

Challenge

Prior to using Eftsure, Ramelius relied on a manual verification process that was not only time-consuming but also left them susceptible to risks of fraud and cyber-crime. A significant amount of sensitive information was exchanged via email, making the organisation more vulnerable to cyber threats like Business Email Compromise (BEC). Additionally, the collection of important documentation was challenging for time-poor staff, and the difficulty of tracking expiry dates created compliance risks.

Approach

With site managers using outdated onboarding forms, resources not being used as efficiently as possible and approval delays making it hard to meet payment deadlines, the team at Ramelius decided it was time to go digital. Working across a multitude of sites, Ramelius needed a solution that would streamline their supplier onboarding process, centralise documentation storage and cut out the monotonous, riskier tasks. With Eftsure being the only software that ticked all the boxes, the decision to proceed was an easy one.

Results

After spending over 20 years in accounts and doing things the “manual way,” Accounts Payable staff were nervous about the change and the potential extra work that Eftsure might bring. However, they were ecstatic to find that the outcome was the opposite. Ramelius now have everything in one place with Eftsure, and the team can focus their time on higher-value tasks that they actually enjoy: problem solving and building relationships with clients and key stakeholders.

Since implementing Eftsure, Ramelius have:

• Digitally transformed their verification process. By entrusting the verification process to Eftsure’s team of fraud experts, Ramelius have significantly reduced vulnerability to fraudulent attacks and saved up to 30 minutes per supplier onboarding.
• Improved compliance. With Eftsure’s documentation feature, the team gets notified about expiring insurance documents and reduces the risk of having non-compliant workers on-site, helping ensure that the company complies with regulatory requirements.
• Created continuity across the onboarding process. There is no longer a chance that anyone will receive an expired onboarding form. Instead, with Eftsure’s solution in place, forms can be centrally updated and accessed from on and off-site.
• Reduced anxiety. Clear, centralised supplier processes have given management greater peace of mind and reduced the uncertainty that comes with higher risks of fraud and error..