Digitization has become more prevalent, especially because of COVID-19.
Companies looking to improve efficiency via digital transformation are taking advantage of the benefits tax technologies can provide their business processes.
Although they’re not within Turkey’s e-invoicing mandate scope, companies have been using e-document applications as part of their operational processes to save time, costs and resources.
The need for e-transformation
E-transformation is not a new concept for Turkey. The e-transformation journey continues and is constantly evolving, with new regulations issued by the Turkish Revenue Administration (TRA) regularly introduced.
The growth in new types of e-documents, businesses and industries that are included in the future scope of the mandate, the faster e-transformation will spread.
E-transformation was originally introduced to close the tax gap and increase tax controls and audits. Apart from the advantages it provides tax authorities, e-transformation also provides a significant benefit to companies: increased efficiency.
Efficiency and e-transformation for companies
Improving efficiency is one of the primary objectives for companies of all sizes. Companies are taking advantage of emerging technologies such as artificial intelligence and robotics to digitize processes and increase profits.
Due to its direct impact on company performance, many companies are choosing to voluntarily transition to e-transformation to take advantage of its many benefits. Companies that want to get ahead of their competitors, make a difference and enhance their performance have immediately turned to e-transformation to achieve their objectives.
We discussed these benefits in our recent blog post, Turkey: How Tax Technology is Improving Company Efficiency.
The future of e-transformation
E-transformation applications are predicted to become more prevalent in the future. The scope of e-documents will expand as tax authorities announce new regulations that include more applications and taxpayers.
Companies that have yet to encounter e-transformation will increasingly demand it to increase the time, cost, and workforce efficiencies of their business processes.