Coeur d’Alene Mines Implements Oracle Financials at its Argentine and Bolivian Subsidiaries with IT Convergence
IT Convergence helps Coeur streamline processes through standardization and integrates systems into a single Oracle instance.
Coeur d’Alene Mines Corporation is the world’s largest primary silver producer and a growing, low-cost gold producer. In 2004, the company produced 14.1 million ounces of silver and 129,000 ounces of gold. Coeur d’Alene has two silver mines in the US, two expanding mines in Chile and Argentina, and two advanced development projects in Bolivia and Alaska. The company also owns large land parcels around two of its South American mines, where it conducts ongoing exploration.
Coeur d’Alene was running legacy systems at its Argentine subsidiary. Each time the company needed to submit financial reports to the government for tax purposes, a lead time of 10 days was necessary to ensure on-time completion. Additionally, the company’s system did not allow it to easily print checks or track purchase orders. Coeur d’Alene’s new Bolivian subsidiary had no existing ERP system, which meant that all processes needed to be performed manually. Coeur d’Alene decided to streamline and standardize its financial processes by implementing Oracle Financials in these locations. The company was already running a single Oracle instance in the United States, and the company decided to integrate these new Financials implementations into its existing instance. Coeur d’Alene required a consulting partner with local financial reporting expertise and an ability to integrate newly implemented Oracle modules into an existing instance.
During a five month period, three ITC consultants worked onsite to perform the multiple-module implementation at Coeur d’Alene’s Argentine subsidiary, making the necessary localized configurations and migrating the company’s processes from legacy systems. ITC’s consultants also performed a remote implementation at the company’s Bolivian subsidiary, integrating all of the subsidiaries’ manual processes into Oracle. As a result, the company’s processes are now centralized and standardized, and the EPR systems consistently provide timely and accurate information instantly available to the company’s world-headquarters.