Engineering & Mining Journal

JUL 2019

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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Page 52 of 67

JULY 2019 • E&MJ 51 OPERATING STRATEGIES form of a digitalized contract data set. This results in immediate cost savings, increased effi ciencies, improved securi- ty, along with broader risk identifi cation, management and control. Our clients are able to identify real-time market, counterparty and organizational trends enabling behavioral analysis and visual- ization across the enterprise, which is an industry fi rst in commodities." According to the company, the key benefi ts offered by ICP include: • Internal collaboration through function- specifi c workfl ows. • Supply chain collaboration. • Linking manual processes inside the organization. • Extracting and visualizing business in- telligence across the organization. • Fast and effi cient contract creation process. • One-time deal capture, resulting in one- time data entry. • Minimal legal discovery costs. • Creating a Golden Copy, which is the defi nitive, single, accurate version of a data entity. • Integration with risk management, ac- counting, legal and operational functions. • An end to manual, paper-based processes. • Fast go-live, in as little as two days. Rio Tinto and Cargill Metals receently collaborated on the ICP contract digitalization platform to reduce the time required to create, issue and approve commodity contracts from several days to under two hours.

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