How the natural resources industry benefits from e-Signatures

Posted by Victoria Allen on 24-Apr-2019 07:50:41

In our latest industries blog we are focusing on natural resources.

Producers of major commodities (coal, iron ore, oil, natural gas) are realising great efficiencies through technology but in a low-growth environment there are opportunities to extend these benefits into broader operational areas.

How the Natural Resources Industry Benefits from e-Signatures

Some organisations are looking to electronic signatures, not only to simplify everyday processes such as the approval of management reports, but 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, and e-signatures 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.

The type of e-signature solution that’s used is important because the natural resource sector is global and must adhere to multiple laws and regulations. The eIDAS Regulation, for example, aims to make transactions easier and more trustworthy in Europe, but different rules apply in other parts of the world and more than 60 countries have their own established laws and standards.

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.

E-signatures also eliminate the lengthy and costly process of printing, scanning and physically storing documents (an added CSR benefit) and because e-signatures 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, e-signatures are another way of eliminating unnecessary paper processes.

Get in touch to find out more about how SigningHub can work for you.

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