From paper to prosperity: How Tally Solutions is transforming Indian MSMEs into digital-ready enterprises
Live Events
For nearly 40 years, Tally Solutions has stood as a cornerstone of India's digital business transformation, fundamentally reshaping how micro, small, and medium enterprises manage their operations. Founded in 1986 by Shyam Sunder Goenka and son Bharat Goenka after their cotton business was destroyed by fire, the company emerged from adversity to become one of India's most successful software majors, embodying the resilience of Indian entrepreneurship.With over 850,000 businesses benefiting from its solutions across 100 countries worldwide, Tally has democratised access to sophisticated business management tools that were once available only to large corporations. With prestigious clients including Dell, Raymond, Tommy Hilfiger, L&T, and Mercedes-Benz, Tally has proven its ability to serve businesses across the spectrum— from multinational corporations to small neighbourhood stores. This extensive reach positions it as more than just a software provider; it is an enabler of economic growth at the grassroots level.Tally's approach is rooted in its 'Power of Simplicity' philosophy, which has made complex business processes accessible to entrepreneurs without technical expertise. The company's flagship product, TallyPrime, allows MSME entrepreneurs to manage and grow businesses without having to understand the finer nuances of accounting or technology. This simplification has been crucial in helping small businesses transition from traditional paper-based systems to digital operations.The introduction of GST in 2017 presented challenges for Indian MSMEs. Tally Solutions stepped up decisively, transforming what could have been insurmountable compliance hurdles into a manageable process. Through TallyPrime's connected GST solution, the platform makes GST filing easier while generating e-invoices, enabling auto reconciliation, providing ITC insights, and facilitating MSME payments. This has been instrumental in helping hundreds of thousands of small businesses navigate India's complex tax landscape.Tally's commitment to MSME success extends beyond software provision. The company has launched extensive educational campaigns to support businesses through regulatory transitions. Notable initiatives include programmes to educate over 180,000 MSMEs on e-invoicing compliance, with specific campaigns in major business centres such as Mumbai, Bengaluru, and Telangana. These efforts demonstrate Tally's understanding that technology adoption requires both tools and knowledge transfer.The company's impact during the Covid-19 pandemic exemplified its dedication to supporting small businesses during crises. Tally provided extensions and support that benefited more than 130,000 MSMEs, enabling them to maintain operations during lockdowns and facilitating remote work capabilities when physical business operations were restricted.Tally Solutions represents more than technological innovation; it embodies the transformation of India's business landscape. By providing simple, powerful, and affordable business management solutions, the company has enabled millions of entrepreneurs to formalise operations, improve efficiency, and scale businesses. Little wonder then that it stood out from over 15,000 entries at India's largest MSME awards, the ET MSME Awards 2024, winning the 'MSME Enabler Award for Tech & Innovation' category.As India continues its journey toward becoming a $5 trillion economy, Tally's role in empowering the MSME sector — which contributes significantly to employment generation and economic growth — remains more critical than ever.For more winner vignettes of the ET MSME Awards , keep an eye on this space.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
28 minutes ago
- Time of India
Amazon to invest over Rs 2k crore in India this year to boost infra
Amazon is set to inject $233 million into its Indian operations this year, aiming to bolster infrastructure and enhance delivery speeds. This investment will also fuel the development of new technologies for its fulfillment network. MUMBAI: Amazon will invest $233 million (over Rs 2,000 crore) in India this year to expand and upgrade the company's operations infrastructure in the country. Portions of the capital will also be deployed to build new tools and technology for the firm's fulfilment network as the Seattle-based e-commerce company takes on deep-pocketed startups Zepto, Zomato, and Swiggy in the cash-guzzling quick commerce space. "This new investment builds on top of Amazon's investments in creating an ops network that helps the company deliver to all serviceable pin codes across India. This investment will enhance processing capacity, improve fulfilment speed, and increase efficiency across the company's operations network that will help Amazon serve customers across India faster," the firm said in a statement on Thursday. For Amazon, which entered India twelve years ago and was largely operating in a two-player e-commerce market alongside Walmart-controlled Flipkart for a good few years, competition has now grown. Startups such as Meesho, backed by storied investors like SoftBank, are foraying into the market and carving a space of their own by targeting a whole new set of customers who were underserved. Conglomerates such as Reliance Industries and Tata Group are also investing in e-commerce. Besides, startups Swiggy, Zepto, and Zomato's Blinkit have created a growing market for 10-minute deliveries in India, a new challenge for Amazon, which was late to enter the quick commerce space. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
33 minutes ago
- Time of India
Desi auto companies yet to get Beijing nod for magnets
Danny generated AI Image NEW DELHI: No Indian auto component or vehicle company managed to get approval from the Chinese govt for procuring rare earth magnets so far, sources said. They added that there is also "no clarity as yet" on any timeline for a confirmed meeting with representatives of the Chinese govt, despite the intervention of Indian officials. The applications for sourcing magnets were filed mainly by auto component manufacturers, who provide fully-built sophisticated component assemblies such as speedometers, electric motors, e-axles, electric water pumps, automatic transmission kits, speakers, sensors and ignition coils (used in engines). The companies that applied include Uno Minda, Bosch, Mareli, TVS Group, Motherson Sumi and Sona Comstar. "There were no approvals so far, according to the latest assessment we carried through interactions with industry representatives," one of the sources told TOI. "The situation is grave, and there is now massive uncertainty regarding manufacturing schedules and factory output." The request for a meeting with Chinese representatives is being pursued not only by industry bodies - Auto Component Manufacturers Association (Acma) and Society of Indian Automobile Manufacturers (Siam) - but also by ministries, such as heavy industries, external affairs, and Commerce. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo Officials from major automobile companies like Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Bajaj Auto, and TVS are also pursuing the matter. The industry also had a meeting with top officials at the ministry of heavy industries earlier this week as govt looks at ways to navigate out of the current crisis. "However, not much headway was made so far," an official source said. Industry executives said the ministry onboarded Ernst & Young as a partner to work on the issue. The meeting also reviewed the preparation of some Indian companies working in the field of magnets. The auto industry requested local producers to give a firm timeline on supplies, if at all possible, emphasising that their production line is dependent on quick procurement. Both Acma and Siam prepared a list of delegates that they intend to rope in if a visit to China can be facilitated by the govt. Through a notification issued on April 4 this year, the Chinese govt imposed certain restrictions in the export permit system for medium and heavy rare earth metals, its alloys, magnets, and related products. To stop the diversion of magnets to defence and weapon requirements, China mandated that exporters must obtain a licence based on the provision of an End User Certificate (EUC), which would need approval from DGFT and the ministry of external affairs and also be endorsed by the Chinese Embassy in India. After this, the EUC needs to be sent to China for approvals - first from the provincial govt from where the exporter in China will produce and export and then from China's ministry of commerce. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hindustan Times
an hour ago
- Hindustan Times
Air India warned for flying Airbus planes with unchecked escape slides
NEW DELHI -India's aviation regulator has warned Air India for breaching safety rules after three of its Airbus planes flew despite being overdue checks on emergency equipment, and for being slow to address the issue, government documents show. The warning notices and an investigation report - both reviewed by Reuters - were not in any way related to last week's crash of an Air India Boeing 787-8 plane that killed all but one of the 242 people onboard, and were sent days before that incident. In the report, the Directorate General of Civil Aviation said spot checks in May on three Air India Airbus planes found that they were operated despite mandatory inspections being overdue on the "critical emergency equipment" of escape slides. In one case, the watchdog found that the inspection of an Airbus A320 jet was delayed by more than a month before being carried out on May 15. AirNav Radar data shows that during the delay the plane flew to international destinations such as Dubai, Riyadh and Jeddah. Another case, involving an Airbus A319 used on domestic routes, showed checks were over three months late, while a third showed an inspection was two days late. "The above cases indicate that aircraft were operated with expired or unverified emergency equipment, which is a violation of standard airworthiness and safety requirements," the DGCA report said. Air India "failed to submit timely compliance responses" to deficiencies raised by the DGCA, "further evidencing weak procedural control and oversight," it added. Air India, which was taken over by the Tata Group in 2022 from the government, said in statement that it was "accelerating" verification of all maintenance records, including dates of the escape slides, and would complete the process in the coming days. In one of the cases, Air India said, the issue came to light when an engineer from AI Engineering Services "inadvertently deployed an escape slide during maintenance". The DGCA and Airbus did not respond to Reuters queries. Checks on escape slides are "a very serious issue. In case of accident, if they don't open, it can lead to serious injuries," said Vibhuti Singh, a former legal expert at the government's Aircraft Accident Investigation Bureau. The DGCA said in its report that the certificates of airworthiness for aircraft that miss mandatory checks were "deemed suspended". The warning notices and the report were sent by Animesh Garg, a deputy director of airworthiness in the Indian government, to Air India CEO Campbell Wilson as well as the airline's continuing airworthiness manager, quality manager and head of planning, the documents showed. An Indian aviation lawyer said such breaches typically attract monetary and civil penalties on both individual executives and the airline. Wilson told Reuters last year that global parts shortages were affecting most airlines, but the problem was "more acute" for Air India as its "product is obviously a lot more dated", with many planes not refreshed since they were delivered in 2010-2011. 'SYSTEMIC CONTROL FAILURE' The Indian regulator, like many abroad, often fines airlines for compliance lapses. India's junior aviation minister in February told parliament that authorities had warned or fined airlines in 23 instances for safety violations last year. Around half of them - 12 - involved Air India and Air India Express, including in one case for "unauthorised entry into cockpit". The biggest fine was $127,000 on Air India for "insufficient oxygen on board" during a flight to San Francisco. Last week's crash, the causes of which are still being investigated, will further challenge Air India's attempts to rebuild its image, after years of criticism from travellers for poor service. Air India's Chairman N. Chandrasekaran on Monday told staff the crash should be a catalyst to build a safer airline, urging employees to stay resolute amid any criticism. In its report, the DGCA also said several Air India aircraft checked by officials had outdated registration paperwork. Air India told Reuters all but one aircraft complied with such requirements and this "poses no impact" to safety. The DGCA investigation report pulled up the airline for what it described as "inadequate internal oversight." "Despite prior notifications and identified deficiencies, the organization's internal quality and planning departments failed to implement effective corrective action, indicating systemic control failure," it said.
