Oracle’s JD Edwards
First Quantum Develops Solution Vision with K-Rise’s AFCE, EASYItem, Vendor Payment, and VOB
First Quantum Minerals Ltd., a Canadian-based mining and metals company, specializes in the exploration, development, and production of mineral resources such as copper, gold, nickel, and cobalt, with operations in multiple countries on five continents.
With an impressive track record of creating value for its stakeholders, the company has pursued and executed many growth opportunities. In 2016, First Quantum was ranked among the 13th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. The majority shareholder, Pangaea Investment Management, sold its subsidiary to the Chinese state company Jiangxi Copper in December 2019. And in 2022, the company closed a new contract with the Government of Panama for its Cobre Panama mine.
First Quantum’s strong focus on copper production has enabled it to become one of the world’s largest copper suppliers (more than 800,000 tonnes), accounting for most of the company’s revenue.
As one of the top 10 copper producers in the world, First Quantum is committed to responsible mining and environmental stewardship with engineering, construction, and operational skills, allowing it to develop and successfully run complex mines and minerals processing plants.
With the growing global demand for copper, First Quantum got into a multi-pronged collaborative effort with K-Rise to review its current business processes, challenges, and proposed solution vision on JD Edwards to take advantage of this opportunity.
Cobre Panama Application For Capital Expenditure (AFCE)
First Quantum acquired its Cobre Panama Mine in 2019 and was looking for ways to automate the capital expenditure requests and optimize its approval process. With its manual system, the company was facing challenges in having visibility of the approval processes and supporting financial evaluations to reduce the approval time.
K-Rise Systems delivered an AFCE solution allowing First Quantum to quickly create a clear and standardized process for new investment requests. This new system was integrated with JD Edwards to generate the necessary master and transactional data and approval workflows.
The AFCE workflow provided authorized users, such as the Requestor, Capital Accounting, Responsible Manager, General Manager, Chief Operating Officer, and Chief Executive officer, with the ability to review and approve or reject each request. The application also allowed the user to send requests to JDE and update the status of a request if failed to send.
The solution provided an end-to-end workflow that could process capital expenditure requests, accounting entries, and automated payments to vendors. K-Rise also provided ongoing support post-implementation to ensure the successful adoption of the solution.
The new application supported the business by speeding up the approval process, providing visibility into all required steps, and supporting financial evaluations to reduce the approval time. All history and tracking information became available to users of the application. First Quantum could therefore save time and resources by reducing manual processes and simplifying approvals.
EASYItem Master Site For Materials Requests
EASYItem is a web-based application that allows users to submit, track and approve item requests for materials in multiple warehouses.
The system enabled First Quantum to:
Vendor Onboarding Portal
After approval, vendors are notified that they have access to the portal and can fill out the required information to complete their onboarding. With Spanish And English language support, the portal allows users to translate documents and messages quickly. When a vendor is approved, their information is pushed into the JD Edwards for further processing.
The Vendor Onboarding system gave First Quantum an efficient, automated process for vendor onboarding and updates, improved vendor information accuracy, and compliance, and eliminated manual data entry. This resulted in better visibility and control of vendor details and reduced time spent on onboarding activities.
Vendor Prepayment For Purchase Orders
The new application by K-Rise facilitated prepayment scheduling against purchase orders that have been issued to suppliers. The workflow required users to set up prepayment schedules, which would then be released for approval. Once approved, the prepayment entry is entered into JDE, and the payment will be issued.
The application allowed users to easily review, approve and reject prepayment requests and provide visibility into the status of each request. Additionally, it allowed users to view payment schedules and create prepayment reports to track payments more efficiently.
The Bottom Line
All in all, the end result is clear: First Quantum is now better equipped to meet its business goals and achieve success. The technology implemented by K-Rise Solutions has significantly impacted their operations and how they do business.