Company:Tally Solutions

From HandWiki
Tally Solutions
Tally
TypePrivate
Industry
Founded1986; 40 years ago (1986) as Peutronics Financial Accountant
Founders
  • Shyam Sunder Goenka
  • Bharat Goenka
Headquarters
Bangalore, Karnataka
,
India
Area served
Worldwide
Key people
Tejas Goenka (Managing Director)
Sheela Goenka (Chairperson)
Nupur Goenka (Executive Director)
Amrish Kumar Jain (CIO)
ProductsTallyPrime
TSS (Tally Software Service)
Tally.ERP 9
Tally.Server 9
Tally.Developer 9
Shoper 9
RevenueIncrease ₹578 crore (US$81 million) (FY23)[1]
Websitetallysolutions.com

Tally Solutions is an Indian multinational technology company known for its popular business management and accounting software, primarily TallyPrime, which helps small and medium businesses (SMBs) manage finances, GST compliance, inventory, banking, and other operations easily and accurately, simplifying complex calculations and reducing errors for millions of users globally. It is headquartered in Bangalore, India.[2]

History

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][5] It began as Peutronics Financial Accountant, an accounting software application.[6][4] The company was incorporated on November 8, 1991, and was renamed Tally Solutions in 1999.[7][8][9]

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[8] to create a software application that would handle financial accounts for his business.[10] 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.{[11]

In 2006, Tally launched Tally 8.1, a concurrent multi-lingual version, and also Tally 9.Cite error: Invalid <ref> tag; refs with no name must have content"Tally Offers Multilingual Support With Tally 8.1". ChannelTimes (ChannelTimes). 27 July 2006. https://channeltimes.com/tally-offers-multilingual-support-with-tally-81.  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] 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.[15][16]

In 2020, the company released TallyPrime.[17][18] In 2022, they introduced TallyPrime Edit Log.[19]

Products and services

TallyPrime logo

Tally Solutions sells enterprise resource software and business management software to SMEs (small and medium-sized business enterprises). The company's flagship product, Tally.ERP 9, was replaced by TallyPrime in 2020.[20] In 2022, they worked with more than 28,000 partners.[2] Tally Solutions has collaborated with Amazon Web Services to make TallyPrime available on the AWS.[21] It was launched in December 2021.[22] Products also include Shoper 9, which is a retail management software.

References

  1. ↑ Kannan, Uma (17 June 2024). "India is an inviting market for those who build tech the right way: Tally MD" (in en). The New Indian Express. https://www.newindianexpress.com/business/2024/Jun/17/india-is-an-inviting-market-for-those-who-build-tech-the-right-way-tally-md. 
  2. ↑ 2.0 2.1 Purandare, Kunal (2022-03-04). "Tally Solutions: Creating A Culture Of Care" (in en). https://www.forbesindia.com/article/india039s-best-employers-2022/tally-solutions-creating-a-culture-of-care/74197/1. 
  3. ↑ "Executive Profile: Bharat Goenka". bloomberg.com. https://www.bloomberg.com/research/stocks/private/person.asp?personId=26204032&privcapId=21842119. 
  4. ↑ 4.0 4.1 Bhakata, Pratik (2020-03-10). "Tally dreams big: India's top accounting software is all set to expand into retail" (in en). https://www.moneycontrol.com/news/business/tally-dreams-big-indias-top-accounting-software-is-all-set-to-expand-into-retail-5018221.html. 
  5. ↑ Mishra, Bibhu Ranjan (5 January 2012). "Tally tries to reach for the stars". Business Standard India. http://www.business-standard.com/article/companies/tally-tries-to-reach-for-the-stars-112010500087_1.html. 
  6. ↑ "Bharat Goenka(Tally Solutions) talks to us about the company's 'stubborn' decision to stay focussed on products". ispirit.in. 2013-01-08. http://pn.ispirt.in/bharat-goenkatally-solutions-talks-to-us-about-the-companys-stubborn-decision-to-stay-focussed-on-products/. 
  7. ↑ Sharma, Rucha (2021-03-24). "India's Best Employers: Tally Solutions, Going Back To The Drawing Board" (in en). https://www.forbesindia.com/article/india039s-best-employers-2021/indias-best-employers-tally-solutions-going-back-to-the-drawing-board/67125/1. 
  8. ↑ 8.0 8.1 "Tally Solutions: a calculated move". indiatimes.com. 2005-02-28. http://articles.economictimes.indiatimes.com/2005-02-28/news/27506141_1_bharat-goenka-tally-solutions-sme. 
  9. ↑ Talgeri, Kunal (27 February 2018). "How India's oldest accounting software got a new lease of life after GST". Economic Times. https://economictimes.indiatimes.com/small-biz/entrepreneurship/how-indias-oldest-accounting-software-got-a-new-lease-of-life-after-gst/articleshow/63089299.cms. 
  10. ↑ "Bharat Goenka discusses his dream of building Tally into a $1 bn company by 2015". indiatimes.com. 2011-07-22. http://articles.economictimes.indiatimes.com/2011-07-22/news/29804196_1_tally-solutions-coding-indian-software. 
  11. ↑ Pratik Bhakta (10 March 2020). "Tally dreams big: India’s top accounting software is all set to expand into retail". Moneycontrol (Network18 Media & Investments Ltd.). https://www.moneycontrol.com/news/business/tally-dreams-big-indias-top-accounting-software-is-all-set-to-expand-into-retail-5018221.html. 
  12. ↑ "Tally launches Tally.ERP 9". thehindubusinessline.com. 2014-02-18. https://www.thehindubusinessline.com/info-tech/tally-launches-tallyerp-9/article23124493.ece. 
  13. ↑ "Tally Solutions launched new channel partner programme". indiatimes.com. 2015-03-09. http://timesofindia.indiatimes.com/business/india-business/Tally-Solutions-launched-new-channel-partner-programme/articleshow/46507267.cms. 
  14. ↑ "Tally Solutions Set to Transform Business Taxation". http://www.channelworld.in/news/tally-solutions-set-to-transform-business-taxation. 
  15. ↑ Tyagi, Chhavi (2017-06-22). "Tally Solutions launches GST compliance software". The Economic Times. http://economictimes.indiatimes.com/small-biz/security-tech/technology/tally-solutions-launchesgst-compliance-software/articleshow/59271199.cms. 
  16. ↑ PTI (2016-12-09). "TCS, Deloitte, EY among 34 cos shortlisted for providing GST interface" (in en). The Hindu Business Line. http://www.thehindubusinessline.com/economy/tcs-deloitte-ey-among-34-cos-shortlisted-for-providing-gst-interface/article9419453.ece. 
  17. ↑ "Tally Solutions launches next gen business management software - TallyPrime". http://www.businessworld.in/article/Tally-Solutions-launches-next-gen-business-management-software-TallyPrime/06-11-2020-339862/. 
  18. ↑ "Tally launches Tally Prime to help small businesses innovate faster". https://www.moneycontrol.com/news/business/tally-launches-tally-prime-to-help-small-businesses-innovate-faster-6072481.html. 
  19. ↑ "TallyPrime Edit Log to assist firms under MCA to comply with audit trail mandate" (in en). 2022-03-21. https://www.freepressjournal.in/business/tallyprime-edit-log-to-assist-firms-under-mca-to-comply-with-audit-trail-mandate. 
  20. ↑ "TallyPrime Replaces Tally.ERP 9 as Tally's Flagship Software" (in en-US). 2021-12-16. https://www.dailyexcelsior.com/tallyprime-replaces-tally-erp-9-as-tallys-flagship-software/. 
  21. ↑ "Tally Solutions partners with Amazon Web Services for 'TallyPrime'". The Economic Times. https://economictimes.indiatimes.com/tech/tech-bytes/tally-solutions-partners-with-amazon-web-services-for-tallyprime/articleshow/88522181.cms. 
  22. ↑ "Tally Solutions partners with Amazon Web Services for 'TallyPrime'". The Times of India. 2021-12-27. ISSN 0971-8257. https://timesofindia.indiatimes.com/tally-solutions-partners-with-amazon-web-services-for-tallyprime/articleshow/88521595.cms. 



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