Continuing its acquisition trend in data, data analysis and information systems, plus adding capabilities in the slowly rebounding mining industry, Caterpillar Venture Capital Inc., a wholly owned subsidiary of Caterpillar Inc. has announced a strategic investment in Alight, Inc. Alight is a San Francisco-based software as a service (SaaS) technology company that develops industry-specific solutions for financial forecasting and scenario analysis. The software has modules that are designed specifically for different industries, with mining and mortgage banking as the first two target industries.
Caterpillar 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.
Like Cat MineStar, Alight’s mining offering was developed by mining industry experts, specifically for mining customers. 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.
“We’re always looking to invest in new ways that could help Caterpillar’s customers improve their profitability, especially through the use of technology,” said Jim Hawkins, managing director of mining technology for Caterpillar. “Alight’s technologies can allow our customers to see the financial impact of a machine or technology purchases as well as operational decisions before they’re made. “Our mining customers make decisions on very large capital investments, in market conditions that are constantly changing,” Hawkins said. “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.”