Why is Tally a Favorite among the SMEs?

Why is Tally a favorite among the SMEs?

Introduction •

Thinking of accounting software the very first name that comes in the mind of any Indian businessman is Tally. Going back to the 1980s, when Mr. Shyam Goenka used to run a business that supplied raw materials and machine parts to plants and textile mills in southern and eastern India, managing the books of accounts manually was getting difficult. He started looking out for a software that could maintain all the business transactions. Being unable to find any such software that could help him with his need, he told his son, Mr. Bharat Goenka to develop a software that could satisfy his accounting needs.

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This is when Mr. Bharat Goenka developed Tally and named it Peutronics Financial Accountant and later in 1999, they officially renamed it to Tally Solutions. From that time till now Tally has almost become synonymous with business accounting software.

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There are many reasons for the popularity of Tally software and those are

Unmatched Competition The popularity of the software is high because of its unique features and the failure of its competitors in producing a better software. Today there are many other competitors in the market who have tried their level best to make a software as good as Tally but have failed miserably.

Cost Tally is a complete business management software with multiple functions that not only assist in managing accounts but many other functions such as payroll management, inventory management etc. All these multiple features in a single software, helps SMEs to avoid spending on multiple software for multiple functions.

Low Investment SMEs are small medium enterprises which have an investment in plant and machinery or equipment between Rs. 25 lakhs to Rs. 10 crores in case of manufacturing industry and between Rs. 10 lakhs to Rs. 5 crores in case of a service sector enterprise. SMEs are very conscious about their investments and hence Tally is often the choice of SMEs for an ERP software as it costs lower than most ERP software.

User-friendly and compatibility Tally has a user interface which allows its users to operate it with just using the keyboard. It has a keyboard shortcut for every option and thus it allows the user to swiftly navigate their way through Tally. Tally is compatible with all windows versions.

Multiple features Tally is an ERP software with multiple features that not only help in accounting but also in Inventory management, payroll management, etc. These features support business in the management of its entire resources

Usage does not require any training Often after spending thousands of rupees on purchasing the erp software, the company has to again spend money on training the employees for using the software. This cost can be avoided in the case of Tally as all the candidates applying for an accountant job have either already used Tally software or know how to use it.

One of the oldest accounting software Tally is one of the oldest accounting software developed in India. The users of the software are above a million this has increased the goodwill of the company and the software. Every SME considers using Tally software at one point in their whole life span.

GST Compliance Tally is GST compliant and every time there is a new advancement in the GST policy, the changes are accordingly made in the software. Thus the users of the software do not have to worry about filing their returns as they can depend on their software to keep them up-to-date about the various changes.

Too many partners and service providers throughout the country.

Even though Tally Solutions office is in Bangalore, it has many sales partners in every corner of the country and hence one can purchase the software from any of its partners and get the necessary support they need for the software.

Trusted software with the power of Simplicity Near about, more than a million customers trust the software which includes customers from different industries such as retailers, distributors, exporters, manufacturers, etc. The widespread of the usage of Tally is such that an introduction for Tally software is not needed anymore. The tagline of Tally is ‘Power of simplicity’ this is because the usage of the software is so simple that any person who is aware of the business transactions, can use the software without any difficulty.

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Along with all these, there are many other features that make Tally unique. The best part about Tally is it is a perpetual software i.e it requires a one-time payment after which the software license can be used for a whole lifetime of a business.

The multi-user license can be used by many users at the same time on different computers. Simultaneously many people can work on Tally on different systems at the cost of a single software.

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