K2fly inks long term contract with Westgold

Listed mining software company K2fly has been racking and stacking a solid slew of major mining companies into its client base, inking yet another long-term contract, this one with serious mining player, Westgold. Westgold’s new contract with K2fly for its “Infoscope” software holds an initial total contract value of over $580,000 with the two companies also looking to collaborate on future working enhancements to the existing software system.

K2fly’s Infoscope software is an enterprise land management program that assists mining and resource companies to comply with complex regulatory reporting obligations.

Within a mining company, there is a wide range of business units that are ‘exposed’ to land management matters and Infoscope assists with the management of those assets.

Westgold manages over 350 individual tenement licences and wants to now work with K2fly to integrate its inhouse land management obligations in addition to overlaying other business functions such as royalty payment tracking, contract management, permitting, licensing, environmental and stakeholder management.

Infoscope is a handy computer program that can organise the multitudes of spatial data that users have on hand, all in the one place and make it translatable.

Recently, the software tech innovator tabled an Infoscope case study centred on one of its clients, FMG. This case study revealed that the one SaaS, Infoscope package, replaced more than eight individual software systems. With over 300 users’ logging into the system daily, Infoscope resulted in a significant reduction in the company’s land management overheads, according to the company.

Nic Pollock K2fly Chief Commercial Officer said: “Westgold … are actively partnering with K2fly and contributing to the further development of our land management solutions in a very meaningful way, assisting us to improve and expand our market offering.”

Westgold’s Executive Chairman, Peter Cook said: …“We have long been looking for a land management system that expands beyond the traditional mining title area and enables us to integrate the multitude of layers associated and attached to our titles to an interactive and linked solution.

"Our industry needs a solution that enables us to operate faster and more efficiently in these areas.”

Other well-known companies on K2flys client list include Rio Tinto, Newcrest, Glencore, Imerys, Mineral Resources, Panoramic and API Management.

K2fly’s software as a service annual recurring revenue has soared this quarter by 29% to $1.453 million – the total value of its live contracts has also jumped 174% from $1.275 million in the first financial quarter to $3.504 million in quarter two – With growth rates like that and a largely untapped mining market K2fly looks like it will have plenty

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au