What is a 'Turnkey Solution'
A turnkey solution is 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.
BREAKING DOWN 'Turnkey Solution'
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.