Australian mining and heavy equipment trader ComponentsONLY is aiming to broaden its product offering as it begins to incorporate new supply solutions.
This includes the commercialisation of an asset manager and customer relationship software package for the heavy earthmoving and mining industry, called Markets Manager, as well as the range of its new subsidiary, Earthmoving Supplies.
“We have broadened our relationship with existing customers by providing efficient, timely and cost-effective solutions. Underpinned by technology, our proprietary software Markets Manager provides us with a technological advantage, as our services are focused on predictive supply solutions,” states ComponentsONLY director Ben Hailes.
He points out that, when combined with the company’s data engine, Data Index, Markets Manager represents a significant growth opportunity for the company.
Markets Manager is cloud-based “software as a service”, and is an inventory and asset management system, combined with comprehensive customer relationship management tools.
With the software’s ability to communicate with a number of third-party software packages, Hailes claims that Markets Manager creates an “effective ecosystem around capital assets, giving customers insight into and control over their assets”.
The company is in the pre-commercialisation phase of releasing Markets Manager – currently in beta testing – and expects to release the software to the mining and heavy earthmoving industry later this year.
“Markets Manager has been enthusiastically embraced by customers to whom we have presented it. Attractive features include its agility, purpose-built functionality and its being purpose built for the earthmoving and mining industries.”
Meanwhile, ComponentsONLY will add the range of its new subsidiary brand, Earthmoving Supplies, to market later this year.
Hailes reiterates that Earthmoving Supplies will supply earthmoving consumables and parts to the civil engineering, earthmoving and construction sectors.
ComponentsONLY’s new brand will be a key strategic focus for the company going forward, he adds.
Hailes says Earthmoving Supplies will focus on enabling customers to order multiple earthmoving consumables from different suppliers from one location.
“Leveraging Earthmoving Supplies with our proprietary software Markets Manager means we can efficiently aggregate orders to increase the availability of inventory, including genuine and non-genuine products. Strategically, this affords us the ability to become a full-service provider.”
Hailes adds that this will culminate in the consolidation of its subsidiary brands, Earthmoving Supplies and the Equipment Exchange, which will coincide with the release of the company’s new Web format next month.
The new Web format will incorporate the Markets Manager and Data Index, and Hailes states that this development will be “a significant step towards a truly connected environment that will create ecosystems around a customer’s capital asset.
“This represents the sixth major iteration of our website since its launch in November 2014, and we are excited about the depth of data intelligence that is now possible through the addition of Markets Manager and Data Index.”
With about 30% of ComponentsONLY’s revenue now generated in global markets, Hailes emphasises that the company has positioned its consolidated brands to compete internationally.
“ComponentsONLY is well placed to service our customers through this current market cycle. Our ability to tailor our service offering to the individual demands of every miner and resource sector has enabled us to provide timely, cost-effective solutions as and when required,” he concludes.