RCubed is a trusted global software solution with strong credentials:
RCubed is owned by XCube Holdings (Pty) Ltd Australia who aquired RCubed from Specsoft in January 2017. Specsoft was the original developer of the RCubed concept since it's inception in 2004 and continues to be fully involved in the product development life cycle.
RCubed is a comprehensive solution environment built over time by software development specialists, Specsoft, in consultation with some of the mineral resource industry's biggest role-players. RCubed addresses the common market challenges around reporting and governance, allowing companies to drive their share value by ensuring that what they report publicly is the best version of the truth, validated and supported by integrated audit trails.
Specsoft's philosophy and the RCubed market positioning revolves around the ongoing development of its own technology stack that evolves easily with market and company-specific demands to remain on the bleeding edge of technology in this space.
RCubed is representative of an enabling culture that resonates with the industries in which we operate and the challenges they face.
Attributes of this culture include:
RCUBED benefits from expertise earned over decades in governance, compliance and reporting technology development that addresses the most pressing business challenges at the strategic, operational and tactical levels.
We have an unparalleled ability to interpret global compliance requirements into a workable methodology.
Our expertise includes the ability to transfer knowledge related to our methodology to clients, empowering them to optimise the methodology and apply its capability beyond compliance reporting.
Specsoft first began developing its RCubed applications in 2004 in response to its interpretation of market needs, as expressed by clients that include Anglo Gold Ashanti. RCubed sought to transform what is traditionally a spreadsheet-based reporting environment into one that is less dependent on manual interaction, more robust, compliant and centrally deployed, providing client companies not only with audit trails and workflows, but a methodology that truly encapsulates best practice in terms of governance compliance and reporting.
Specsoft is now home to a software development environment with capability and capacity to continually interpret current and future market needs through its technology. Specsoft is also engaged in development that takes the technology platform on which RCubed is built to industries outside of mineral resources with similar compliance reporting requirements.
Publicly-listed mineral resource companies are subject to the requirements as laid down by CRIRSCO as well as specific governance, legislative and stock exchange compliance requirements in particular countries of operation. As a result, mineral resource companies must demonstrate rigorous and transparent processes for mineral inventory capture, validation and reporting.
Without a robust technology system with which to gather, validate and manage data and produce reports in an accurate and auditable manner, resources companies find themselves at a disadvantage when portraying their greatest assets to potential investors, regulatory bodies and other important stakeholders.
The global resource market has always been marked by high risk and high reward. It is an environment that requires resources companies to be proactive, responsive and resilient in the face of changes brought about by market conditions. As a result, common and repetitive challenges keep business executives searching for best practice governance, compliance and reporting solutions to remain effective.
Global legislative and stock exchange requirements to report accountably, transparently and with validity on mineral resources and ore reserves inventories.
The requirement for validation of data at different stages of the reporting process in a legally compliant manner, signed off by Competent Persons.
The prevailing trend of maintaining data through cumbersome spreadsheets that require a high level of manual intervention.
Maintaining accurate information pertaining to assets given a reduced workforce and having fewer Competent Persons employed to sign off on business-critical information.
Our client base is representative of the broad applicability of our technology. It includes listed tier one and mid-tier mineral resource companies. It is envisaged that mining consultants who are Competent Persons can use this technology to service their own range of clients.
Due to our sound compliance methodology and clear value proposition, our offerings are particularly appealing to chief executive officers, mineral resource managers and audit committees.
RCubed is a globally-applicable mineral resources and ore reserve governance, compliance and reporting software application. Its underlying methodology enables the capture of data, approvals at the various stages of consolidation, retrieval and portrayal of data in a manner consistent with compliance regulations. The data that RCubed yields can also deliver management information to generate regular reports and guide decision-making. RCubed dramatically improves productivity of reporting by reducing collating and reporting timeframes from months to weeks with increased cost efficiency.
The RCubed methodology enables best-practice reporting around the four major aspects of minerals resources and reserves reporting and compliance:
Annual Mineral Resources and Ore Reserve Statement (supplement to the Annual Report)
Competent Persons Statement
Monthly Production Reconciliation Report
Annual Production Report
Having been developed over time in direct response to global mineral resource and ore reserves requirements, the underlying RCubed methodology has been tested, validated and found indispensable in the tier one and mid-tier companies in which it has been deployed. It is at work in more than 170 sites worldwide, and applicable across the full spectrum of commodities.
Regardless of the extent of commodities and levels of complexity of operations inherent in the client company, RCubed can be scaled and configured to suit their requirements. The flexible technology platform is seamlessly integrated with existing processes without imposing its own. A dashboard interface provides internal and authorized external stakeholders with a single, validated version of the truth. The underlying methodology manages the global reporting requirements not only of multi-commodity mining companies listed on multiple exchanges, but also smaller, less complex mining companies. Client companies can easily scale up or down according to their needs.
RCubed is developed to be accessible across multiple technology channels, and consistent with client preferences and their investment in technology infrastructure. RCubed can therefore be hosted on behalf of the company as a Cloud enabled solution on a ‘Software-as-a-Service' basis or within a company's existing web environment. In a cost-conscious environment, this eliminates the need to purchase complete software solutions and client companies and consultants can instead pay a subscription and enjoy access to the latest version of RCubed. RCubed is configured for user-friendly access via desktop and mobile devices.
The RCubed methodology offers a governance framework that is recognised for its compliance with the reporting requirements of all regional reporting codes, stock exchange listing rules and other commodity- and country-specific regulatory obligations. Its structure is workflow based and allows for data validation and signoff by Competent Persons, technical experts and reviewers at the various levels of the operations. Security and audit trails are an integral part of the solution. This transparent process is not only conducive to good governance but also for deriving and interpreting management information for monthly or more regular reporting in a clear and consistent manner.
Trusted reporting information: Facilitates consistent, transparent, auditable, well-governed reporting information.
Improved reporting productivity: Dramatically improves the standard and efficiency of compliance reporting.
Global reporting codes and requirements compliant:Facilitates global compliance with multiple reporting codes, stock exchange listing rules and regulatory obligations.
RCubed allows for processing and reporting on Resource and Reserve Information per operation. RCubed assists companies in meeting the challenge of enhancing the standard of reporting of mineral resources and reserves. Its methodology in this regard includes verified outputs towards governance, competence, tenure, risk, liabilities and assurance as well as activities related to exploration and projects. This takes place as a fully audited process related to data recording and accessing, and herein lies its intrinsic value.
Consistent with the compliance code requirements that public reporting of mineral resources and ore reserves must be based on documentation prepared by a Competent Person, RCubed includes rules for signoff at key junctions of the workflow. This eliminates the possibility for undue influence, streamlining the production and guaranteeing the integrity of the report and giving the Competent Person peace of mind in taking responsibility for the contents of the report.
The robust Sentinel framework which is self-provisioning and multi-tenant forms the backbone of the RCubed application and future technologies, offering:
For executives, mineral resource managers and audit committees, the accuracy of the data the system delivers reduces intrinsic flaws and the time-consuming task of checking and re-checking numbers. Add to this the feature that only Competent Persons can sign off on the data, executives have confidence in the auditability of the data.
Not only do they have access to historical data built up over time with which to observe trends and advise decision-making and planning, but due to the structure of the system, it all comes at a fraction of the relative HR cost.
The information available to stakeholders including shareholders and potential investors contributes to positive sentiment that the company is consistently engaged in robust governance reporting. This instils the kind of confidence and reputation that ultimately has a positive effect on share value.
For Competent Persons working as consultants, they are able to service more clients with the same degree of quality and realise an exponential increase in offering their expertise.
Deployment of the RCubed solution is accompanied by the option of off-site hosting, user support, a warranty of our software integrity and relevant updates and patches. We also facilitate consultations and discussions within our user group from which product enhancements are made.
"In 2005 we identified the need for a system to replace our old spreadsheet reporting system. The introduction of reporting codes for Mineral Resource and Ore Reserves as well as the introduction of SOX required us to display a much higher level of sign off and diligence in our external reporting. We therefore contacted Specsoft to assist us in developing what today is known as RCubed.
RCubed provides us with a single source of the truth and ensures we have a full audit trail back to our Competent Persons. It also provides us with a platform to reinforce both internal and external guidelines in our reporting.
The system has ensured ownership of the reporting processes at the right level and has provided confidence at the group level that our reporting reflects the true output of the Competent Persons.
The Specsoft team is a highly capable team that strives hard to understand our requirements."
Senior Vice President: Strategic Technical Group
+27 87 820 3600
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