Benchmarking compliance performance is critical to identifying and understanding compliance costs – which have a direct effect on a company’s net profit. Predictive Compliance, the Denver-based MSHA citation-management and compliance-analytics software developer, has developed a new MineState feature which allows instant benchmarking of a mining company’s compliance performance against all similarly situated mines in any state in the nation.
MineState provides a powerful new tool to help companies gage their compliance costs and more effectively direct their scarce compliance management resources, according to the company.
“In the last five years, MSHA penalty costs have risen approximately 500 percent,” the company said. “They are now a quantifiable cost per unit and visibility of these costs is more important than ever to individual mines, mining companies, industry organizations and investors. Used in conjunction with Predictive Compliance’s proprietary citation management and analytics software system, MineState provides a comprehensive, real-time picture of a company’s compliance management efforts.”
“No other product exists to allow companies to see how they are doing compared to similarly situated mines, said Mark Savit, MSHA compliance attorney and general manager of Predictive Compliance. “Currently, for example, there is no way for a safety manager or operations manager to know how the company’s non-fatal days lost rate compares to other similar mines – whether underground metal or non-metal or surface- to-surface mines. Without the MineState benchmarking capability, compliance management is like throwing darts in the dark.”
Predictive Compliance offers mining companies and contractors a unique approach to easily automate their MSHA compliance management and more effectively allocate their resources for safer, more efficient operations.
Its user-friendly software allows mining organizations to upload citations as they are received, instantly calculate the predicted penalty, and show the impact that citation (and future citations) would have on compliance costs, resources and operations.
Predictive Compliance also helps decision-makers when planning to contest a citation and provides tools to identify and track potential patterns of violation, quickly compile citation data needed to respond to the new Dodd-Frank Act SEC reporting requirements.
MineState will be sold at a reduced rate to Predictive Compliance users or as a separate product for those who are interested solely in having access to this benchmarking data and reporting capability.
Predictive Compliance can be contacted at 801-231-8536.