Caterpillar invests in financial forecasting technology company
Caterpillar Venture Capital, a wholly owned subsidiary of Caterpillar Inc., invested in Alight Inc., a San Francisco-based software-as-a-service technology company that develops industry-specific solutions for financial forecasting and scenario analysis.
According to Caterpillar, Alight’s software has modules that are designed specifically for several industries, including the mining industry. Alight’s cloud-based products allow users to pull data from other systems, such as Cat MineStar, run multiple scenarios to facilitate financial decision making and create enterprise level financial forecasts.
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. This will help miners make assessments at the site level and analyze strategic opportunities through 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,” says 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.”
Caterpillar’s MineStar, which is part of the Cat Connect family of technologies and services, helps customers deal with a number of challenges, including controlling costs, extending equipment life and enhancing safety.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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