The current situation is difficult for everyone, cash flow has taken a hit, unsold stock lie in warehouses, labour is scarce and these are not problems that can be solved with just technology, says Tejas Goenka, managing director, Tally Solutions.
The current situation is difficult for everyone, cash flow has taken a hit, unsold stock lie in warehouses, labour is scarce and these are not problems that can be solved with just technology, says Tejas Goenka, managing director, Tally Solutions. “But with the right technology, measures can be taken to overcome these difficulties.” Recently, the business management software maker launched TallyPrime; this will equip MSME owners and new-age entrepreneurs with an ultra-simple and powerful software to enhance their business productivity, he tells Sudhir Chowdhary in a recent interview. Excerpts:
Why is business management software important for MSME businesses?
Automation and digitisation can help bring transparency, efficiency, and speed into any business. One will always be on top of the outstanding amounts, stock and inventory can be maintained efficiently because of the insights from the software, it will also assist in being compliant with all standard rules and regulations. However, for the MSME owner, the decision to automate can be difficult as it implies changing the way it works, becoming more organised and disciplined. Therefore it is a double-edged sword. This may come as a hindrance in adopting technology and hence choosing a software that adapts to their way of working makes all the difference.
What are the key considerations of business owners while incorporating technology into the existing business?
For MSME owners specifically, making the right choice of technology is critical. There are instances when business owners start using a particular software which they believe can help their business, but over a period of time, more and more data starts working outside the system and soon the system is not of much help. This happens because ‘software exceptions’ do not allow the business owner to manage the business the way they want to. For instance, the inventory status in the system may not be correct due to some pilferage or miscounting which might lead to incorrect stock information. Now the business owner wants to make a sale and can physically see the items, but the ‘system’ is not allowing the sale because of the discrepancy.
At the core of the automation decision, the fundamentals matter a lot more than functionality and features. One, is the software flexible enough to adapt to the firm’s way of working, especially in the day-to-day situations; two, is the software simple to learn and use for the business owner himself? Three, will the right assistance and service be provided when needed? Four, is the software reliable and the reports generated trustworthy? Five, is the business data secure and private only for the use of the business owner? Once these basic questions are answered, then it is much easier to decide on the features and functionality.
How is Tally enabling business owners who are new to the technology realm to adopt and integrate?
Over the last three decades, we have focused on technology and capabilities to ensure business owners invest maximum time in growing their business while experiencing a useful, flawless and delightful product. In doing so, we have taken several technology decisions which have led us to create simple, flexible, reliable, and easy to use software which adapts itself with the changing needs of any business.
We recently launched TallyPrime, our next generation business management software to equip MSME owners and new-age entrepreneurs with an ultra-simple and powerful software to enhance their business productivity. It will facilitate users to comfortably manage and grow their business without needing to know the finer nuances of accounting or technology. Our product design specifically considers people moving to technology for the first time in a way that their style of working, the way they record and manage their data seem similar even when working on the software.
What solutions is Tally providing its vast partner ecosystem to support them in the current dynamic environment?
Our partner ecosystem has been an integral part of our existence and growth over the years. Most of them are small and medium businesses themselves and the current situation did impact them initially, but they have started recovering. We have taken measures like setting up a partner Covid fund to provide financial support to our certified partners and introduced a digital enablement program to equip them with the new ways of working and managing business. The partners have also shown extreme will and resilience to turnaround the situation and emerge stronger. Right from personal connect with customers, webinars to assist them and using digital means to reach out to prospects, our partners have pleasantly surprised us by their dedication at every step of the way. They not only adapted to the new way of working with ease but also ensured that their customers operate business without hassles. Most of our partners have already started reaching pre-Covid levels of business. They have proved to be a role-model for the industry, and we are extremely proud of our association with them.