Customer Story
Rio2 Limited: Scaling a Mining Operation with Real-Time Control and Visibility
Overview
Rio2 Limited is a Canada-based gold mining company that rapidly scaled from a 20-person development team into a multi-country operation with over 3,000 employees while building its Fenix Gold Mine in Chile. As construction accelerated, disconnected systems, spreadsheets, and manual processes hindered Rio2’s ability to track spend and control costs.
Rio2 partnered with Syntax to modernize its business with SAP Cloud ERP, integrating SAP Analytics Cloud, SAP Document Compliance, and Concur Expenselt to digitize reporting and regulatory workflows. The result: a unified, clean-core platform delivering real-time financial visibility, structured procurement, and business agility.
Customer Profile
Name: Rio2 Limited
Headquarters: Vancouver, Canada
Industry: Natural Resources | Mining
40%
Faster Financial Close with Real-Time Reporting
30%
Shorter Procurement Cycles Through Automated Workflows
20%
Efficiency Gains for Finance Teams
Scaling a Capital-Intensive Business
Challenges
- Rio2’s fragmented systems couldn’t sustain rapid growth across Canada, Chile, and Peru.
- Speed, control, and visibility were hindered by manual procurement processes and a mix of disconnected tools that couldn’t provide a centralized view of spending versus budget.
- Financial reporting required manual consolidation across entities, reducing efficiency and agility.
“Syntax’s mining sector and SAP expertise were instrumental to our success. They helped us turn an ambitious transformation into a fast, practical deployment, connecting teams across three countries and giving us the 24/7 visibility, control, and agility we need to grow.”
– Kathryn Johnson, EVP, CFO & Corporate Secretary, Rio2 Limited
Why SAP and Syntax
- SAP Cloud ERP and cloud solutions offered integrated project cost control, with the ability to manage WBS and capital spend.
- Rapid deployment of SAP Cloud ERP in just six months successfully unified finance, procurement, and project tracking, and connected teams across three countries.
- Syntax selected for its deep mining industry and SAP expertise, helping Rio2 turn an ambitious transformation into a fast, practical deployment.
Value-Driven Results
- Faster Financial Close – 40% faster financial close with real-time reporting across three countries, reducing financial reporting effort from ~4 weeks to ~2 weeks.
- Automated Procurement – 30% shorter procurement cycles through automated workflows.
- Efficiency Gains – 20% efficiency gain for finance teams driven by standardized processes and automation, freeing staff from manual reconciliation and data entry.
- Greater Visibility – Real-time insight into costs incurred and remaining budget, with reduced errors through automation (multi-currency, settlements, and A/P processes).
- Rapid Scalability – A repeatable, clean-core foundation supporting growth and AI-driven innovation.
“At Rio2, automation starts with a solid foundation. You can’t build an AI strategy on scattered spreadsheets. By adopting SAP Cloud ERP and a clean-core approach, we created a unified backbone for decision-making as we scale across three countries. The foundation for AI is already in place without needing to reimplement anything.”
– Christopher Diaz
Senior Vice President of Finance, Rio2 Limited