Barrick Digital Moves Forward With Key Initiatives
With the implementation of SAP S4 HANA at Nevada Gold Mines in 2020, Barrick laid one of the key foundations for its updated digital roadmap. As the remaining mines and regions bring SAP online in 2021, a major portion of the data used for operational and financial analysis will become standardized globally.
Having successfully implemented the financial consolidation process into OneStream during Q4, the next building block is a concurrent roll-out of a more agile financial planning system, also within the new OneStream application.
The full integration of these two major platforms (SAP and OneStream) will enable much quicker insight into the group’s key cost drivers and enormously increase the potential for efficiency analysis, benchmarking and other value-added reporting.
Barrick’s Global Data Platform (GDP) is at the core of our digital strategy and drives the way in which data moves between different systems and enables improved visibility and decision making by managers.
“The Global Data Platform roadmap is built around visibility of business processes and automation of data currently collected in a more manual way,” says vice president group information technology Nico West.
“Projects have been prioritized starting with foundational work around the visibility of data, understanding and getting to grips with the complexities of disparate source systems. This allows us to work towards integration, automation, and optimization using fit-for-purpose technologies at each step. Our investment approach to the GDP is to pick specific but varied pilot projects to demonstrate the success and value that the projects will deliver to Barrick, and grow the platform incrementally, rather than a big bang approach.”
