The e-Transformation Industry’s Situation in The World

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The e-Transformation Industry’s Situation in The World

By: E.Alara Topra, Foriba

With the astonishing improvement in technology and now that there is a concept that technology touches every moment of our lives with, many countries in the world today have been taking steps towards e-Transformation. Work and investments related to e-Transformation have started to show up in public institutions as well as in private sectors. The digitalization of accounting and finance processes play a crucial role in reducing the informal economy. It enables companies to increase productivity and makes it possible to save on stationary and labor costs and time. It also contributes to the workload as it facilitates the audit on the public side.

e-Invoice, one of the most popular products of e-Transformation, is used in many parts of the world, from America to Europe and from North Africa to Far East. The fact that the private sector is in a more decisive position in the United States has led the state to have a more limited influence on the development of the e-Invoice. However, e-Invoice is being used extensively across Latin America and Asia. Countries like Mexico and Brazil in particular prefer to use e-Invoices to avoid tax evasion.

The country that uses e-Invoice most in Europe is Germany. In the Netherlands, Belgium, Sweden, Spain, Denmark, Italy, Hungary e-Invoice is getting more and more common day by day. However, the region where e-Invoice is mostly used is known as Asia. In Asia, South Korea, Hong Kong and Singapore are leaders in electronic transformation. With the evolution of e-Transformation in Turkey, e-Transformation solutions like e-invoice, e-Archieve, e-Delivery Note, e-Ticket, e-Declaration have shown impressive progress.

Along with the developing technology, many innovations are passed in the e-transformation sector. Foriba, Turkey’s top electronic document processing company as a leading e-Transformation company will facilitate the lives of institutions and consumers in the sense of accounting and finance, every step that gives them added value is carried by electronic format. Foriba, in terms of software, is also producing new solutions for new needs. By serving more than 7.200 customers, it manages 70 percent of all e-invoices in Turkey. By following trends in the world and gaining momentum for overseas operations, Foriba is making steady steps towards becoming one of the leading companies that guide technology in international markets.