Spokesperson – Vikas Panchal General Manager Middle East Tally Solutions
Tally Solutions has a long history of providing accounting software. How is the company evolving its products and services to keep pace with the changing needs of businesses particularly in the context of digital transformation and the move towards cloud-based solutions (CBS)?
This year we are showcasing our new release -4.0. The concept is most of the SMEs are working on 4-dimensional business growth which emphasizes all the four pillars for business to grow specifically on SME base.
Tally has always been a pioneer in simplifying business operations and this year also we are bringing in a lot of bringing a lot of new features, that will further simplify your business operations. When we talk about communication and accessibility, the main feature that we introduce is ‘WhatsApp integration’.
In today’s time; all businesses need to communicate with their customers/suppliers, not only through email, but instantly through WhatsApp, within from Tally product itself, you can send WhatsApp to all your customers, you can send your Invoices, your Outstandings and also send any promotional messages within from Tally.
So, today that is giving more connectivity and communication facilities to businesses. Another thing that we have introduced is a feature called the ‘Dashboard’ which is going to help businesses to make more insightful decisions. Whether I’m a business owner, a finance manager, or in any key operational position, I can create my own dashboard, wherein I can have a look at the top 5-10 reports which I want to view every day continuously.
That will help you make better decisions for your business. So that’s been introduced in the new release here. And the other most important aspect is ‘compliance’. Any GCC compliance- whether it is VAT for UAE or Oman, Bahrain or Saudi, or the latest introduction of corporate tax in UAE is all based on one software.
So even if your business is linked all over GCC, we have one software that will take care of your compliance needs. So, we are coming out as a trusted compliance partner. That is how we are helping the business —taking care of all the aspects of business and defending ourselves with a complete business management solution.
The accounting and financial management software landscape is highly competitive. What sets Tally Solutions apart from its competitors, and what unique value does the company bring to businesses especially small and medium-sized enterprises (SMEs)?
One of the key features is that Ours is a perpetual license– You buy it once and keep using it and there is no need to buy different modules. We feel that business cannot function in isolation. If you’re a business, you will want to manage your entire business from one software. So that is one of the key important features we’re talking about. Being a 37-year-old organization, We have evolved and come a long way to cater to everyone’s business needs.
Our software is so easy to just install and start using – There’s no implementation as such as it is very user-friendly. Anybody can use it and you just install and start creating your invoice from day one, right from that instant moment. That is one of the important aspects of what we’re talking about, do already have 50,000 customers in UAE and more than 65,000 customers across GCC. So that itself is a testimony to know what sort of product Tally is and we want everybody to purchase the product and let it speak for itself.
Tally Solutions has a significant user base, especially in India. Could you share insights into the company’s global expansion strategy and how you plan to grow your presence in international markets as well as adapt to various regulatory and compliance requirements?
So, we already have a strong presence. If we talk from the customer-user perspective, we are already present in 100+ countries. And from the partner perspective, we have a strong presence in the Middle East right now. We have a presence in APEC, we have partners and customers in Malaysia, Singapore, Indonesia, and also in African countries. We have offices in Kenya, which takes care of the African territories like Tanzania Uganda, and Nigeria.
We definitely look at expanding more and penetrating deeper and also looking at Egypt being a very good market for us.
After successfully managing the challenges and complexity of compliance in countries like India, we have been consistently doing it everywhere else too. Here in UAE, Tally was amongst the first to give compliance when it was first introduced in 2018. It has also been one of the first software to be accredited by FTA and ZATCA in Saudi Arabia. So, compliance has been our forte and we will continue to support all the businesses in whatever compliance requirement they have.
Data Security and privacy are paramount in accounting software. What measures and safeguards does Tally Solutions have in place to ensure the security and confidentiality of financial data for its customers, and how is the company preparing for the evolving data protection regulations and cyber security challenges?
We have our own proprietary database so that is another key benefit of the software. We do not depend on any third-party database. The custodian of the software and the database is the customer themselves. So it gives them all the flexibility to maintain the security from whatever perspective they want. From the user level, It gives them control over defining what user will have access to what report.
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