Doing business with Turkey

Bridging the GA(A)P

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Building a bridge between the Netherlands and Turkey – how?

Doing business across national borders has its challenges, especially if the rules in these countries differ. Are these challenges financially, then you will probably immediately think of having correct figures. However: to find solutions, more is needed…

BridgeBey shares and multiplies knowledge about controlling and reporting. So organizations can immediately convert transparent results into strategic decision-making. We bridge differences, so they can realize ambitions.

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With more than 20 years of experience, BridgeBey has successfully tackled a wide range of issues:

Closing financial leaks

ASSIGNMENT

Situation:

a listed producer had been selling in Turkey for years, but did not trust the results
Request: perform

an audit to provide insight into possible causes and areas for improvement for closing operational/financial leaks

Result:

a 5-day audit revealed 3 pain points that could be structurally solved immediately by setting up and implementing accounting rules, among other things

Improve profitability

ASSIGNMENT

Situation:

a Turkish production facility had been loss-making for quite some time; urgent help was needed to realize a turn-around

Request:

in addition to a financial control, also carry out a business control and map out change management needs, as input for a strategic plan

Result:

after a thorough 2-month analysis we carried out a 7-month change program that resulted in black figures within 1 year

Professionalize financial reporting

ASSIGNMENT

Situation:

the reporting of a fertilizing company left much to be desired in both quality and speed

Request:

provide reliable insight into the financial position to enable informed strategic decision-making

Result:

by completely redesigning all reporting, management’s confidence in figures was reestablished, resulting in profit-boosting decision-making after one quarter already

Realizing a financial knowledge impulse

ASSIGNMENT

Situation:

an agricultural company’s controlling team had no knowledge of the Turkish guidelines and thereby missed the proverbial boat
Request: provide a knowledge injection to make the existing team self-managing in their high-quality task performance
Result: by implementing our coaching program – with elements like knowledge transfer, 1-on-1 coaching and trainings – the 3 controllers are now operating independently

Harmonizing financial processes

ASSIGNMENT
Situation: a purchasing and sales organization lacked unity in reporting, unenabling them to prepare financial statements
Request: redesign reporting with clear instructions for the financial accounting team, so future data consolidation can be achieved easily and quickly
Result: by linking Turkish GAAP with IFRS, financial processes were harmonized and standardized, enabling a quick consolidation

Services BridgeBey

By providing various audits and design services. BridgeBey offers insight and advice to boost the returns when doing business with Turkey.

Financial Controlling

Have costs been booked correctly? BridgeBey sees through the Turkish-Dutch regulations and prevents the use of unauthorized loopholes in the law.

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Business Controlling

What’s behind the numbers? Getting the details makes the difference. BridgeBey uses audits analize the information required for strategic management.

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Business Reporting

Reporting has many dimensions, from financial statements to sales reports to cost price analysis.

BridgeBey makes them readable to initiate targeted improvement actions.

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Beyond Numbers…

BridgeBey also supports organizations on topics like financial consolidations and budgeting. Furthermore, we can activate our broad, trusted network for legal and tax issues. We have built a wide network of reliable partners over the years. For example, we join forces with tax specialists and lawyers that can solve any issue and assist you legally and/or fiscally. BridgeBey always looks ahead with a problem-solving mentality.

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