IEC connector install question

Hello all, I would like to install an inlet connector into my old CD player for the purpose of using an aftermarket power cord. I have 2 questions:

1) To accommodate the connector, is there a specific tool I should use to cut through the back of my CD player?

2) The power configuration of the player has a standard wire split into 2 parts. The first half is soldered to binding post (k1), the second half of the wire is soldered to post k2. Given the new Inlet connector does not require soldering (Furutech connector uses screws to clamp down the wire), is it as simple stipping the cable, then fasten the bare wire from k1 to the left side of the IEC connector and K2 to the Right side of the connector?

Thank you