 Jean-Baptiste Gehringer Marketing Manager Penneo |
The Danish group Penneo, which specialises in digital signature solutions for documents, is leading the way in Belgium. According to Jean-Baptiste Gehringer, marketing manager in charge of new markets at Penneo, the country is very connected, which makes it easier to set up. He also explained the strengths of the Danish technology group.
Let's start at the beginning. What exactly does Penneo do?
Jean-Baptiste Gehringer: We offer two services: Penneo Sign and KYC. Penneo Sign is a system for creating digital signatures, simplifying the exchange and validation of documents. With a few clicks, and thanks to the itsme system you know, a contract can be signed and transmitted quickly via Penneo. We bring a strong added value to our clients, who previously had to manually send a document by mail to be signed. We work with a system of recurring subscriptions, Annual Recurring Revenue (ARR) in the jargon. Growth is clearly on the rise, as we announced a 53% increase in turnover in the third quarter. Today, Penneo is the undisputed number one in Scandinavia.
You also mention KYC. What does this mean and is this service already available in Belgium?
Jean-Baptiste Gehringer: KYC stands for Know Your Customer and is only available in the Nordic countries, so not yet in Belgium. KYC allows us to assess the risks, to check whether AML (Anti Money Laundering) laws are respected and finally to establish whether we can work with a partner in a transparent and secure manner. This service requires considerable investment in a number of areas and, for the time being, we have other priorities in Belgium. However, we will carry out all the necessary tests in the future.
What are the strengths of your offer?
Jean-Baptiste Gehringer: Our offer has several strong points. Our big advantage is that we can offer a stream of personalised signatures tailored to the customer. If you send several documents to be signed, you only have to identify yourself once, whereas with many of our competitors you have to do this for each document separately. In addition, it is also possible to arrange a sequence of signatures so that, for example, the director signs everything first and then a certain manager. This is very complicated to set up technologically, although it seems very easy to implement. We also offer the possibility of storing and archiving all documents.
What type of clients do you have at Penneo?
Jean-Baptiste Gehringer: We work with all kinds of clients, from SMEs to large groups. The advantage is that our product is suitable for everyone. The digital signature can be used by anyone, and that's precisely its advantage. We try to be as close as possible to the customer, to provide the necessary advice and to adapt our services to the type of company. In this way we can create maximum added value. You could call it a family approach. In the Scandinavian countries, our clients include big names like Deloitte and Ernst & Young. In Belgium we work with VGD, Acco Accountants, Graef Advies, etc. We divide the market into segments such as audit/accounting, banking, legal, real estate and corporate administration. And we can adapt to each segment. The real estate sector is a good example. On some contracts you have to sign every page and that can be boring, but thanks to our programme and itsme, it's done in no time
Can you give an example of a Belgian company that has integrated a Penneo product?
Jean-Baptiste Gehringer: Today we have about twenty clients in Belgium, and since November Graef Advies, a family business in Essen that employs about fifteen people and has been in existence for 40 years, has been using our programme. There are three directors in the company: they are very connected and, like many company directors, they want to combine digitalisation and ecology. They also want to create a close relationship with their customers and to focus fully on their business consulting activity. In other words, they want to have the tools to minimise the impact of administrative tasks. Today, the whole process of signing documents has become complex, as there are many documents in circulation in this sector. Thanks to Penneo, they now save a lot of time, and the fact that everyone involved at Graef Advies can sign in a certain order and still have an overview of the process is satisfying. In addition, the rapid adaptation of all employees who now use it on a daily basis has reduced the workload.
Is the competition strong and what are your competitive advantages?
Jean-Baptiste Gehringer: There are several competing service providers such as Docusign, Pandadoc, Connective, etc. However, many solutions on the market are not compatible with itsme. And for us, working with electronic identification (eID) is a top priority because it enhances security and allows us to comply with the law. We also have competitive advantages such as the customisation of the signature flow, the speed with which documents can be signed and, as mentioned earlier, our partnership with itsme. Another advantage is the easy integration of our solution with other applications such as Silverfin or WorkPoint, which allows the customer to get started quickly. We employ an implementation manager who understands the potential customer's ecosystem and can propose solutions. So our product can be tailored to the customer, if an extra layer of security is needed, for example. Some of our competitors only offer a basic solution.
Is a pan-European approach possible for companies operating in several countries?
Jean-Baptiste Gehringer: You have to get authorisation in each country to access the eID, so it doesn't make it easy. In France, there is a system, France Connect Group , which is hardly used. It is only in its infancy. This is in contrast to the Danish equivalent of Itsme, Nem-ID, which has been around for years and is well established. To make life easier for managers operating in different countries, we also offer the 'touch signature'. This allows a signature to be placed on a tablet or computer screen.
What is the biggest challenge for the group?
Jean-Baptiste Gehringer: We are, as we have already mentioned, the market leader in Scandinavia and we want to make it known that we have the best solution on the market. This is our biggest challenge. In addition, we have identified some battles to win internally. These are strategic challenges that we have to win.
What is the difference between Belgium and Denmark?
Jean-Baptiste Gehringer: Let me say that there are many similarities. Belgium is a fairly highly connected market, as is Denmark. Moreover, in both countries the electronic identification system works very well. At the same time, Belgium is a curious market that easily absorbs digital novelties and is very ecologically oriented, just like in the Scandinavian countries. New things are easily absorbed, especially if they save time in return. It is not a static market that does not want to take risks. In some other European countries, change is much slower.
