A leading regulative and financial technologies company in Turkey that helps companies move their financial and accounting processes to the digital environment, Foriba now speeds up its steps towards globalisation. Foriba is a follower of the global trends with its R&D center, and it offers solutions for the regulation of the processes that increase business efficiency and facilitate cost and time management. Ready to give direction to the global market development with its corporate software and integration services, Foriba organised an event in Italy, introducing their e-Invoice solutions. Industry leaders also took the floor in the event which addressed the expected electronic invoicing regulation in Italy, and the compatibility of the companies to this regulation thanks to Foriba Cockpit.
Foriba provides e-Transformation solutions to 8200 customers, more than 500 of them global. Offering solutions that increase business efficiency and facilitate cost and time management to industry leaders including Shell, Unilever, PG and Dow; Foriba gives direction to the development of software and integration services market.
Foriba serves its global clients with its e-invoice dedication team of 160 people, providing reliable, easy and smooth services developed at SAP standards.
With its more than 8.200 references from all industries, Foriba projects to grow by 100 percent in 1 year in terms of customer range and turnover, including mergers, acquisitions and overseas plans, and to acquire at least one company from both Italy and Turkey in 2018.
Acting as the pioneer in Turkey, Foriba speeds up its steps towards globalization. After opening an office in Italy, Foriba now sets its eyes at establishing operations in Europe, Asia-Pacific and Central Asia and becoming one of the industry leaders in the international market.
At the global scale, Foriba provides corporate applications such as 'e-invoice' in Italy, 'RTIR' in Hungary, ‘SII’ in Spain and ‘SAF-T’ in Europe as well as solutions for regulating the processes by increasing business efficiency and facilitating cost and time management.
With the IFC leadership, the biggest private sector-oriented development organization in the world, Foriba has received 5 million dollars of investment; 3 million dollars of them by IFC, 1.5 million dollars by Revo Capital, and 500 thousand dollars by Endeavor Catalyst.
As the leading e-Transformation company in Turkey that processes electronic documents more than any other company, Foriba continues to offer solutions that help companies move their financial and accounting processes to the digital environment.
Speeding up its growth policies with the office launched in Italy in recent months, Foriba brought together the industry leader global companies in an event organised in Italy. Organized by Foriba, as the leading e-Transformation company in Turkey processing the highest number of electronic documents, the event addressed the electronic invoicing regulation expected in Italy on January 1, 2019, and the compatibility of companies to this regulation thanks to Foriba Cockpit. Industry leaders such as PwC Italy, Ginini Antipode and Infocert also took the floor in the event.
A business volume of 10 million Euros will be created till the end of the year
Bulut Arukel, Global Operations Director in Foriba, the leading Turkish company in the field of regulative and financial technologies, said “We are planning to create a business volume of 10 million Euros till the end of the year in Italy with the support of our global customers and international business partners. By January 1, 2019, all companies operating on B2B and B2C in Italy will have moved to e-Invoice"
Reminding that the concept of e-Transformation was discussed by the European Union in 2010 as a vision and positioned as one of the 7 vital items in the 2020 plan where the union's growth targets for the future were defined, Foriba Global Operations Director Bulut Arukel said, “Currently we are working with great partners such as Ginini in Italy and we have extended our portfolio here with one of the biggest energy and fuel oil companies in the world, we will open offices in further countries with our potential.”
Stating that they were aiming at starting operations in European, Asia-Pacific and Central Asia countries and becoming one of the industry leaders in the international market, Bulut Arukel emphasised that they have launched some projects in Italy and Hungary, and they would perform other projects in Poland and Lithuania in the following months along with customer analyses.
Explaining that they were planning to have an income of 25 million dollars in 2020, Bulut Arukel said that about 40 percent of this figure will be obtained from the sales abroad.