A turnkey solution is a ready-to-use product or service developed and implemented by a vendor. The term "turnkey" refers to the idea that the solution is like a key that can be turned to start a system or process immediately. TurnKey Solutions provides SaaS-delivered, Data-Centric autonomous testing and production data quality solutions for the major ERP/CRM/HCM applications, including Workday, Oracle EBS and Cloud Applications, SAP ECC 6, SAP S/4HANA, Salesforce, and more. Via our industry-leading cloud platform Rainier AEV, TurnKey offers solutions suites that include pre-built test automation, production data mining, and custom reporting unique to each enterprise system's needs.
A turnkey service is a comprehensive solution in which the provider takes on the entire responsibility for designing, planning, and implementing a project from start to finish. Turnkey services can apply to almost any service relationship and are especially relevant in outsourced services and real estate investing.
For example, in residential real estate, a turnkey provider might handle everything from purchasing and renovating a property to finding tenants and managing the property. The investor acquires the property and receives rental income without involvement in day-to-day operations.
In commercial real estate, a turnkey solution could include identifying a suitable commercial property, renovating it to meet specific business needs, and even securing tenants.
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With a true turnkey service, partners can take on tasks that others are unable (or unwilling) to manage themselves or deliver finished products that can be immediately implemented by their partner. The fast turnaround and reliable service and communications offered through these partnerships can be well worth it. In addition, depending on the nature of the service and the partners themselves, what begins as a turnkey service may evolve into a more customized and collaborative partnership, driving additional value for both sides.