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FIT Solutions: Turkey’s e-Transformation Leader, preferred by SMEs

February 18, 2016  |  Asia, Electronic Invoicing, Europe

After launching its activities in 1999, FIT Solutions became the most preferred leading e-Transformation solution provider in Turkey in transferring business processes of the companies and their relations with the Turkish Revenue Administration to digital environment.

FIT Solutions is offering solutions increasing business efficiency and facilitating cost and time management in the organization of ‘e-Invoice’, ‘Supplier Finance’ , ‘e-Ledger’, ‘e-Audit’, ‘e-Signature’, ‘Registered e-Mail’, ‘e-Reconciliation’, ‘e-Payment’, ‘e-Backup’ and ‘Business Process Management’. FIT Solutions follows global trends in its R&D Center and draws the direction for the future of corporate software and integration services market.

An investment was made into FIT Solutions in 2014 by Holland based venture capital fund Revo Capital and after this investment, FIT Solutions was able to further develop its know-how and experiences in the field of e-Transformation and to solicit new global customers. FIT Solutions expands their customer base and becomes one of the most preferred solution provider for SME market.

A plan has been developed to integrate all companies into e-Invoice platform until the beginning of 2020s.. With its strong R&D studies and activities, reliable infrastructure and experienced team, FIT Solutions offers electronic solutions increasing business efficiency, reducing costs for work force, cargo shipping and transportation and facilitating time management. Besides that, FIT Solutions supports protection of nature and contributes to national economy by eliminating consumption of paper.

e-Invoice market is growing incrementally

e-Invoice solution as provided by FIT Solutions represents a product package developed for e-Invoice issuing functionality for both incoming and outgoing invoices and operated without any problems with the existing ERP systems. 60% of 10 million invoices processed in 2015 via e-Invoice platform were managed by FIT Solutions. almost 50.000 customers started using e-invoice at the beginning of 2016 and this number is expected to increase to 100.000 by the end of 2016. FIT solutions will continue to grow in direct proportion with the market growth since it will be providing cloud services for SMEs for their e-transformation needs.

Savings up to 650 million TL

Use of e-Invoice is reducing printing, archiving and cargo costs for the companies. The system brings ease in reporting and auditing as it is based on a single UBL format. With the help of e-Invoice, printed invoice costs of 6 TL per division are reduced until 2 Cent (TL 0.02). With the e-transformation platform, the employees will be able to shift their energies that would be normally spent on invoice printing, enveloping and courier delivery to such areas where they could be more useful and exhibit their talents and bring added value to their company. As a result, performance levels will be boosted.

Recent research confirms that e-Invoice brings considerable savings for both buyer and seller. Issuing e-Invoice brings 57% savings as compared to printed invoice for the seller, while this ratio will be 62% for the buyer. Moreover the companies will be able to amortize all investments made to e-Invoice system within 3 months and at latest in 1 year. As a consequence savings reach to 2% of their total turnover.

Turkey achieved savings up to TL 650 million through electronic invoice system and saved nearly 100.000 trees. It is aimed to reach a number of 100.000 in terms of e-Invoice users by the end of 2016 and contribute TL 3 billion to the national economy.

 


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