In our latest industries blog we are focusing on natural resources and the benefits the industry could see from using eSignatures.
Producers of major commodities (coal, iron ore, oil and natural gas) are realising great efficiencies through technology. In a low-growth environment, there are opportunities to extend these benefits into broader operational areas.
Esignature benefits for the natural resources industry:
Streamlining efficiency
Some organisations are looking to electronic signatures to simplify everyday processes, such as the approval of management reports, and also as a means to increase the speed with which transactions are managed, energy projects are financed or site prospecting reports are approved.
The smallest delay in a contract being signed can set a project back by weeks, if not months. Esignatures play a crucial role in accelerating this signing process while ensuring that any signatures involved have long-term verification - a particularly important consideration for legal or regulatory documents.
Ensure compliance and legality
The type of eSignature solution that’s used is important because the natural resources industry is global and must adhere to multiple laws and regulations. For example, the eIDAS Regulation, aims to make transactions easier and more trustworthy in Europe. Different rules apply in other parts of the world, and more than 60 countries have their own established laws and standards.
Reduce financial and environmental costs
Esignatures also eliminate the lengthy and costly process of printing, scanning and physically storing documents (an added CSR benefit) and because eSignatures are digital and immediate, global teams can work faster regardless of where they are based.
In an industry where environmental impact and use of resources is a key concern, eSignatures are another way of eliminating unnecessary paper processes.
How SigningHub supports the natural resources industry
SigningHub has been designed to support extensive compliance and security requirements for companies operating all over the world. Its Advanced and Qualified signatures are secure, high trust and provide evidence that signatures are valid and verified with timestamps documenting who signed and when. When long approval chains involve multiple parties, it is important to ensure that signatures are trustworthy and valid.
Get in touch to find out more about how SigningHub can work for you.
