Streamlined Captial Expenditure App

With over 100 divisions and subsidiaries, keeping track of approvals for yearly capital expenditures was a time-consuming manual process with no easy way to ensure capital expenditures over $50,000 were appropriately approved by the correct individuals at the department, division/subsidiary, and corporate level. In addition, the process to gather and present the information for Board approval took Nucor teammates’ time away from their primary responsibilities.

Aerie and Nucor developed an enterprise workflow solution using Nucor's existing Microsoft technology stack and business processes, including Azure, The Power Platform, M365, and Teams, to streamline and simplify the approval process.

The Capital Expenditure Approval (CEA) solution offered the following key features and benefits:

• Standardization and streamlining of capital expenditure requests, approvals, and reporting for all Nucor subsidiaries, divisions, and departments.
• Flexibility to modify/change locations, cost centers, and approvers as needed.
• Efficient budgeting and approval of all CEA items throughout the organization, resulting in hundreds of man-hours saved annually.
• Comprehensive auditability, providing an audit trail of approvers, cost changes, and modifications from budget to approval to spend phases.

 

As a result of implementing the CEA solution, Nucor experienced significant outcomes:

• Over 1,000 hours saved annually due to streamlined processes.
• Enhanced reporting and auditability of the Capital Expenditure process.
• Access to detailed request item information and financials.
• Improved efficiency and collaboration within the organization.

Nucor is North America's most diversified and sustainable steel and steel products company, delivering high-quality solutions to a wide range of industries.

Nucor is forged around a vision for leading the steel industry by providing unparalleled customer care, building trusted partnerships and creating sustained value.