Expenditure Watch - Expenditure Monitoring and Reporting Tool

Expenditure Watch - Tenement Management Software

Expenditure Watch fills the gap between the accounting system, tenement administration and exploration planning. It is designed specifically for the WA mining industry to address many of the difficulties with traditional tenement expenditure reporting.

Staff can tell at a glance which tenements are on target to meet expenditure commitments and those where expenditure falls short, so they “don’t get ambushed by the anniversary date”.

Expenditure Watch pays for itself within 12 months by increasing productivity for all staff, reduces expenditure by eliminating the need for hasty last minute exploration, and tracks project expenditure exemptions without requiring a PhD in Mathematics.

Expenditure Watch Benefits of Tenement Management Software

Updating expenditure is a simple, 10 minute process using bulk transaction dumps from the existing accounting system. By using spreadsheets as the transfer mechanism, any accounting systems can be used. Expenditure Watch supports multiple accounting systems easing the transition for companies switching accounts, or permits integration of expenditure from multiple companies – even JV partners!

Real Case: A company was switching accounting systems, and the accountant responsible for the change upon seeing the demo, realised that Expenditure Watch could save him weeks of work bringing the old data into the new system. Expenditure Watch paid for itself, instantly!

As a planning tool, Expenditure Watch is a one stop shop for all budget requirements, integrating expenditure commitments, rents and rates for the next 12 months (new in version 3.6). Project expenditure is automatically calculated for each tenement and used where possible to reduce commitments.

Real Case: A company looking to minimise costs during the current downturn recently used Expenditure Watch to save over $700,000 on expenditure commitments by leveraging existing project expenditure.

With easy updating and full transaction details available, geologists and tenement administrators can regularly vet and monitor expenditure progress, so that when the anniversary comes, there are no nasty surprises requiring improvised solutions, and no fear of audits. In this way, Expenditure Watch increases security of tenure, a key consideration for good governance.

Real Case: When installing Expenditure Watch for a new client, during the training session we noticed a $90,000 transaction dated July 1 labelled “General Exploration” It turned out to be a lump sum journal entry totally unrelated to the tenement in question. Unfortunately the anniversary was only two days away…

(… Keep your fingers crossed … )

Once anniversaries pass, Expenditure Watch produces Form 5’s, exemption applications and project expenditure exemption details in seconds – with built in audit trails back to individual transactions. These reports are standalone Excel spreadsheets, that can be modified as necessary and emailed to tenement managers for final verification and submission.

Contact

For more details or to book a demo, please contact us.

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Expenditure Watch Overview

Expediture Watch - Tenement Management Software

System Requirements:
Windows 2000/XP/Vista/7 running Office 2003/2007 software with Internet Explorer 7 or later.

Expenditure Watch Product Pricing: ... more
Expenditure Watch Product Overview: PDF

Product Updates:

Expenditure Watch Update Page

 


 



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