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Glossario Apparound

This section contains a collection of terms related to the digitization of sales processes, the latest innovations in technology and marketing, each accompanied by an explanation of the meaning or other observations.

OTP signature: how it works and how it helps to close contracts

With Apparound it is possible to choose to use various types of electronic signature that hold legal value and thus respond to different needs regarding the conclusion of sales contracts.

In a previous article we have already analyzed the different types of electronic signatures and it is important to remember how this service brings improvements in terms of productivity and customer experience because it is possible to close contracts faster, even remotely and without errors. In particular, the advanced electronic signature with OTP (One Time Password) authentication allows you to conclude contracts remotely, without having to print the contract and make an appointment with the potential customer. A significant advantage in terms of costs and time.

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What does Advanced Electronic Signature or FEA with OTP authentication mean?

OTP, or “One Time Password”, is a temporary password uniquely associated with the contract and the customer, which is sent by SMS and used as an electronic signature to close the contract.

The biggest concern of those who have to sign (and have signed) contracts remotely with OTP authentication is the legal value that the signature has.

In fact, from a legal point of view, the FEA is a type of electronic signature that satisfies the following requirements:

  • It is connected only to the signatory;

  • It is suitable for identifying the signatory;

  • It is composed of data for the creation of an electronic signature that the signatory can, with a high level of security, use under his own exclusive control;

  • It is linked to the subscribed data in order to allow the identification of any subsequent modification of such data.

As established by the law of 15 MARCH 1997 n. 59, Art. 15, Paragraph 2 the deeds, data and documents formed by the Public Administration and private individuals with IT and telematic tools, the contracts stipulated in the same forms, as well as their filing and transmission with IT tools, are valid and relevant to all legal effects “. This means that if an FEA is then used to have a contract signed, we are faced with an electronic signature with the same legal effects as a handwritten signature.

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The advantages of an OTP signature

  • Saves paper: more and more companies are choosing the green option and deciding to do away with paper, saving up to 80% of contract printing costs.

  • Management times and costs: the approval and signing times of the contract are shortened, because the transmission from one department to another takes place in real time. As well as the archiving of both the draft and the signed contract which are immediate.

  • Productivity of sellers increases: as they no longer have to reach the customer to have the contract signed and do not have to subtract time dedicated to the sale to transmit copies of paper contracts to the back office.

  • Legal validity: we have already said this, the OTP signature has the same legal value as the handwritten signature.

Why is the OTP signature secure?

First of all, the code that is generated is unassailable because the OTP that is sent follows an algorithm that gives randomness to the creation of the number and its duration is very limited in time (generally the OTP code expires after 30 seconds).

To reinforce the provisions of the aforementioned law, the Digital Administration Code (Legislative Decree no. 82/2005) specifies that an electronic signature with an OTP code has legal value if the document is signed in compliance with the technical characteristics that guarantee the ‘identifiability of the author, the integrity and the impossibility of modifying the document itself.

The OTP code exploits the security of a two-factor authentication system (2FA which stands for Two Factor Authentication) and ensures the identity of the user who can then be identified in the event of disputes. The user will first have to enter a password, which is the first factor, to access their account (or click on a signature link received on their email, and this is also password protected), then they will have to type the (second factor) numeric code received via SMS on your mobile phone or appeared on a token or other physical device.

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OTP Apparound electronic signature: how it works

Let’s see in detail how, in four simple steps, the flow of signing a contract occurs when this occurs remotely. If the contract does not close at the first meeting, you can then avoid further travel and use the advanced electronic signature via OTP to close the contract.

Contact us and find out how easy and fast it is to increase salesperson productivity and reach sales goals with Apparound.

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Customers different from the past

All this on the basis of a simple reflection: in the B2B purchasing process, the seller is usually involved when the buyer already has a clear perception of the product that could be right for him. He may also have already consulted with competitors and other managers of the company, and have an idea of ​​the possible bottlenecks he will face. In a similar situation, the value of the classic product presentation is scarce at the sales stage and, above all, it does not pursue the aforementioned customer centricity.

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Change the approach: the proactive seller

The seller, therefore, is no longer asked to think in terms of product but of solution. The buyer has a goal, he has a purpose, he has problems to face and, he might not able to solve them with internal resources. So he looks for a company that can manage them. To the technical knowledge of the product and the service, the seller must therefore combine great competence on business dynamics. But above all, he must be proactive, that is, a purchasing facilitator: he must know the customer’s problems and the obstacles he will have to face in order to complete the process. This puts the proactive seller on a level of advantage over all those who, again, think of the sale as a pure and simple proposal of a side-by-side product comparison at a (discounted) price.

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The road to success

There is a lot of work to do, also because customer centricity means building a long-term relationship. Furthermore, it is essential to give priority to the customer even after the sale. This is undoubtedly the correct path to achieving results. Developing a relationship of trust makes it much easier to make other sales in the future and to maintain a solid relationship with your customers. The secret therefore lies in changing approach, being proactive and thinking less in terms of products and more of solutions.

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Customer centricity and technology

A big hand comes from technology, because it is essential for sellers, who usually do not follow a single buyer, to always have the customer’s story at hand. Also, you need to be extremely prepared and up-to-date on everything. On the product, of course, but also on prices and configuration possibilities, as well as on external elements such as the latest regulatory updates. All this can be concentrated in a portable device, which allows the seller to have everything under control. From product materials, up-to-date pricing, predefined configurations and more, serving as a point of contact between the customer and the company. In this way, it will be possible both to adopt a customer-centric approach to sales, and to demonstrate competence and reliability, which are fundamental to building trust.

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