How Tally Confirms Her Top Position Over the Years

Tally, as an organization, has been through a roller coaster ride, from being a start-up company to becoming a market leader and seeing a collapse in product prices. It has several future goals and the main one is to become a Rs 5000 crore company in the near future. Bharat Goenka, the founder of Tally Solutions, India’s largest company in the domain of accounting software, has big ambitions. The company intends to top $2 billion in revenue by the end of FY 16-17 at a growth rate that could give other startups pause.

Growing twenty times in a few years may seem like an unreasonable dream; however, the ambition to do so is perhaps more a product of Tally’s unrealized ambitions than a statement of overconfidence. After a long road littered with struggles, successes, and then some big mistakes, Tally seems to have found herself and sees no reason why she shouldn’t hit the open road at an alarming rate. The founder of the company seems to have his priorities clear for the company this time. According to him, it is quite easy to make money, but it is not that simple to create an impact and if the company is successful in doing so, it is natural that the money will flow.

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

According to experts, the accounting standard and rules in India are quite different and also change very fast. One of the biggest benefits that Tally has is the understanding of the regulatory environment in the country and the fact that they update their products very frequently. The other great benefit of Tally ERP is its strong network of partners, who actually go out and sell their products on the market. The expert is of the opinion that for any global company to be successful in India, where many small businesses require people to come and sell and install their products, this is a difficult act to follow.

going forward

Tally primarily sells its products under two brand names; Tally and Shoper. The company has presented its latest version Tally ERP 9 which has been very successful. In the future, it has also identified an area of ​​opportunity, mainly ‘supply chain visibility’; seeks to leverage its broad reach to offer last-mile connectivity to small and medium-sized organizations.

For Tally to get past the mounting completion and hit the predicted $2 billion mark, she needs to get back to the things that made her successful in the first place, which is innovation and unmatched work ethic.