Tally Solutions

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Tally Solutions Pvt Ltd.
TypePrivate
Industry
  • Accounting Software
  • Inventory Software
  • ERP Software
Founded1986
Founder
Headquarters,
India
Key people
Tejas Goenka (Managing Director)
ProductsTallyPrime, TSS (Tally Software Service), Tally.ERP 9, Tally.Server 9, Tally.Developer 9 and Shoper 9
Websitetallysolutions.com

Tally Solutions Pvt. Ltd. is an Indian multinational technology company, that provides enterprise resource planning software. It is headquartered in Bangalore, Karnataka.[1] The company reports that its software is used by more than 7 million customers.[2]

History[edit]

Tally Solutions was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka[3] after the family's cotton business was destroyed by fire.[4] It began as Peutronics Financial Accountant, an accounting software application.[5][4] The company was incorporated in 1991 and was renamed Tally Solutions in 1999.[6][7][8]

Shyam Sundar Goenka was running a company that supplied raw materials and machine parts to plants and textile mills in southern and eastern India. Unable to find software that could manage his books of accounts, he asked his son, Bharat Goenka, 23, a Maths graduate[7] to create a software application that would handle financial accounts for his business.[9] The first version of the accounting software was launched as an MS-DOS application. It had only basic accounting functions, and was named Peutronics Financial Accountant.[10]

  • In 2006, Tally launched Tally 8.1, a concurrent multi-lingual version, and also Tally 9.[11]
  • In 2009, the company released Tally.ERP 9, a business management solution[12]
  • In 2015, the company launched a program called Vriddhi to certify and classify its business partners.[13] Also in 2015, Tally Solutions announced the launch of Tally.ERP 9 Release 5.0 with taxation and compliance features.[14]
  • As of 2016, the company had 1 million customers.[15]
  • In 2016, Tally Solutions was shortlisted as a GST Suvidha Provider to provide interface between the new Goods and Services Tax (GST) server and taxpayers, and in 2017, the company launched its updated GST compliance software.[16][17]
  • In 2020, the company released TallyPrime.[18][19][20]
  • In 2020, TallyPrime offers connected e-invoicing solutions to generate e-invoice within their software automatically[21]
  • In 2022, they introduced TallyPrime Edit Log.[22]

Products and services[edit]

Tally Solutions sells enterprise resource software and business management software to SMEs (small and medium-sized business enterprises.)[20] The company's flagship product, Tally.ERP 9, was replaced by TallyPrime in 2020.[20][23] In 2022, they worked with more than 28,000 partners.[1]

  • Tally Solutions has collaborated with Amazon Web Services to make its flagship product TallyPrime available on the cloud-computing platform[24]
TallyPrime logo

Awards[edit]

  • Tally Solutions was conferred the best family business award at Moneycontrol Pro’s Indian Family Business Awards 2021[25]
  • Bharat Goenka, co-founder and managing director of Tally Solutions, won the Padma Shri Award in the field of Trade and Industry.[26]

References[edit]

  1. ^ a b Purandare, Kunal (4 March 2022). "Tally Solutions: Creating A Culture Of Care". Forbes India. Retrieved 12 April 2022.
  2. ^ "Social Panga bags the social media marketing mandate of Tally Solutions". Financialexpress. Retrieved 25 July 2022.
  3. ^ "Executive Profile: Bharat Goenka". bloomberg.com. Retrieved 4 July 2016.
  4. ^ a b Bhakata, Pratik (10 March 2020). "Tally dreams big: India's top accounting software is all set to expand into retail". Moneycontrol. Retrieved 10 May 2022.
  5. ^ "Bharat Goenka(Tally Solutions) talks to us about the company's 'stubborn' decision to stay focussed on products". ispirit.in. 8 January 2013. Retrieved 4 July 2016.
  6. ^ Sharma, Rucha (24 March 2021). "India's Best Employers: Tally Solutions, Going Back To The Drawing Board". Forbes India. Retrieved 19 April 2022.
  7. ^ a b "Tally Solutions: a calculated move". indiatimes.com. 28 February 2005. Retrieved 4 July 2016.
  8. ^ Talgeri, Kunal (27 February 2018). "How India's oldest accounting software got a new lease of life after GST". Economic Times. Retrieved 3 February 2021.
  9. ^ "Bharat Goenka discusses his dream of building Tally into a $1 bn company by 2015". indiatimes.com. 22 July 2011. Retrieved 4 July 2016.
  10. ^ "Brief history about Tally.ERP 9 and its versions since Tally 3.0". accountsguy.net. 15 October 2014. Retrieved 4 July 2016.
  11. ^ "Tally Launches Multilingual Accounting Software". CXOtoday.com. 15 January 2006. Retrieved 4 July 2016.
  12. ^ "Tally launches Tally.ERP 9". thehindubusinessline.com. 18 February 2014. Retrieved 4 July 2016.
  13. ^ "Tally Solutions launched new channel partner programme". indiatimes.com. 9 March 2015. Retrieved 4 July 2016.
  14. ^ "Tally Solutions Set to Transform Business Taxation". ChannelWorld India. Retrieved 29 June 2017.
  15. ^ "Tally Solutions clocks 1 Million Customers Globally - Times of India". The Times of India. Retrieved 29 June 2017.
  16. ^ Tyagi, Chhavi (22 June 2017). "Tally Solutions launches GST compliance software". The Economic Times. Retrieved 29 June 2017.
  17. ^ PTI (9 December 2016). "TCS, Deloitte, EY among 34 cos shortlisted for providing GST interface". The Hindu Business Line. Retrieved 29 June 2017.
  18. ^ "Tally Solutions launches next gen business management software - TallyPrime".
  19. ^ "Tally launches Tally Prime to help small businesses innovate faster".
  20. ^ a b c "Bengaluru technology giant Tally Solutions helping SMEs go online". India Today. 23 December 2021. Retrieved 12 April 2022.
  21. ^ DelhiDecember 23, IMPACT FEATURE india today digital New; December 23, 2021UPDATED; Ist, 2021 13:53. "Bengaluru technology giant Tally Solutions helping SMEs go online". India Today. Retrieved 11 July 2022.{{cite web}}: CS1 maint: numeric names: authors list (link)
  22. ^ "TallyPrime Edit Log to assist firms under MCA to comply with audit trail mandate". Free Press Journal. 21 March 2022. Retrieved 12 April 2022.
  23. ^ "TallyPrime Replaces Tally.ERP 9 as Tally's Flagship Software". Daily Excelsior. 16 December 2021. Retrieved 19 April 2022.
  24. ^ "Tally Solutions partners with Amazon Web Services for 'TallyPrime'". The Economic Times. Retrieved 11 July 2022.
  25. ^ "Indian Family Business Awards 2021: Tally Solutions wins best family business award". Moneycontrol. Retrieved 11 July 2022.
  26. ^ "Padma Awards 2020: Sanjeev Bikchandani, Bharat Goenka Receive the Prestigious Award". DATAQUEST. 27 January 2020. Retrieved 11 July 2022.