Cash Flow Is One Of The Highest Business Priorities Because: How Tally Confirms Its Top Position Over The Years

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How Tally Confirms Its Top Position Over The Years

Tally as an organization has gone through a rollercoaster – everything from a start-up to a market leader to falling product prices. He has several future goals but the main one is to become a 5000 crore company in the near future. Bharat Goenka, founder of Tally Solutions – India’s largest accounting software company, has big ambitions. The company plans to cross $2 billion in revenue by the end of FY16 and 2017, a growth rate that could make other startups think twice.

Twenty-fold growth in a few years might seem like an unreasonable dream; but the ambition to do so is perhaps more a product of Tally’s unfulfilled ambitions than a statement of overconfidence. After a long journey of struggle, success, and then some big mistakes, Tally seems to have found himself and sees no reason why he shouldn’t be moving forward on the open road at an alarming rate. The founder of the company seems to have clear priorities for the company this time around. According to him, it is quite easy to make money, but it is not so easy to create influence and if a company succeeds in this, it is natural that the money will flow.

Tally’s flagship software, ERP 9, is considered the best accounting package available to businesses today. Ease of use and the ability to provide access to real-time information, allowing for up-to-date cash flow analysis and offering the ability to better understand the numbers behind the business on an ongoing basis, is what makes Tally unique in India. Today, his product has an 80% market share and according to Mr. Goenka, manual bookkeeping is the only competition. Although financial accounting is a global product, it is extremely unique to each market.

According to experts, accounting standards and rules in India are quite different and also change very rapidly. One of the biggest strengths that Tally has is its understanding of the country’s regulatory environment and the fact that they update their products very frequently. Another big advantage for Tally ERP is its strong network of partners who actually go and sell their products in the market. An expert feels that for any global company to succeed in India, where many small businesses need individuals to come and sell and install their products, it is difficult to keep up.

They move on

Tally primarily sells its products under two brands; Tally and Shopper. The company launched the latest version of Tally ERP 9 which was extremely successful. In the future, he also defined the area of ​​opportunity, especially “recognizability of the supply chain”; aims to leverage its wide reach to offer last-mile connectivity to small and medium-sized organizations.

In order for Tally to move past its growing finality and hit its $2 billion target, it needs to get back to the things that made it successful in the first place: innovation and an unparalleled work ethic.

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