Energy & Utilities
Accessing property history information that is usually stored inadequately and in many places is the toughest challenge that the Energy and Utility industry faces regularly. Properties and equipment have aged and were handled many times which in turn generates a lot of paperwork. Furthermore, dealing with different user rights also creates functional barriers.
Most of these energy companies constantly generate a huge volume of papers and thus have warehouses full of records. Managing these warehouses and accessing the information is very cumbersome and time-consuming to fetch desired information this difficulty to access information often result in costly errors, leading to legal and regulatory implications.
Organizations thus face day to day processing of documents in functions like exploration, production, refining, support services, contract management, and marketing.
Timely access, safeguarding of documents, and complying with govt. guidelines are of foremost importance for this industry thus energy companies must develop a solid document management process to preserve critical business information.
With an abundance of paperwork like contracts and leases, property documentation, engineering documents, property titles, wells records, and tax forms it is imperative to have a dedicated document management system in place that easily classifies and indexes different record types according to set processes and rules.
Royal’s DMS solution can help eliminate this paper by encapsulating scanning with workflow optimization solutions to digitize, encrypt, and store these critical documents into digital file cabinets. Allowing access rights allow users to access and use digital documents as per business requirements.