Turnkey Solution

Turnkey Solution
A type of system that can be easily implemented into current business processes. A turnkey solution is immediately ready to use upon implementation and is designed to fulfill a certain process such as billing, website design, training or content management.

For example, a company looking to implement an online billing feature on its website can use third-party providers to process each transaction and handle all the technical issues surrounding this complicated process. The use of a turnkey solution in this case allows the company to avoid the headaches of programming the tool in house and the approvals associated with developing a billing system from scratch.

Investment dictionary. . 2012.

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