VAKT’s vSure solution automatically and systematically delivers legally binding and digitally affirmed trades.

Transforming Oil Industry Contracts: The Digital Revolution is Here

The oil industry, known for its complexity and scale, is primed for a digital transformation—particularly in contract management. In a world where multi-party paper agreements per trade and dynamic market conditions create significant friction, join the VAKT ecosystem where compliance, negotiation, and execution all occur seamlessly in a fully digital and secure environment underpinned by existing GT&C’s and side-letter or MTA for legal efficiency.

Enter VAKT vSure: Your Digital Contract Solution

Oil contracts are notoriously intricate, filled with complex clauses like pricing escalators, optional terms, and constantly shifting market conditions. Managing these agreements with traditional methods is cumbersome, time intensive, costly and prone to errors. But what if your contracts could integrate affirmed real-time data, automatically flag potential issues, and accelerate decision-making—all in a secure platform, moving human involvement to a decision-making exception management process.

That’s the promise of VAKT vSure.

By embracing digital contracts, you can harness real-time data and automation to radically improve efficiency, transparency, and security. Let’s look at other industries that have already reaped the rewards of going digital:

·      Finance: Once overwhelmed by paperwork, financial institutions now thrive with e-signatures, smart contracts, and fully automated workflows.

·      Healthcare: Medical data, previously confined to physical files, is now securely stored in digital health records, enhancing both accuracy and accessibility for providers and patients alike.

·      Real Estate: Transactions that used to take months are now completed in days, thanks to the integration of digital contracts and blockchain technology in various parts of the world.

The Oil Industry is Next

As we move toward a standardised digital-first future, the oil industry must leverage these advancements for smarter, faster, and more secure contract management. The time for change is now.

VAKT vSure: The Solution for Today and Tomorrow