Tally Solutions Explained

Tally Solutions
Type:	Private
Industry:	Accounting software Inventory software ERP software
Founded:	as Peutronics Financial Accountant
Founders:	Shyam Sunder Goenka Bharat Goenka
Key People:	Tejas Goenka (Managing Director) Sheela Goenka (Chairperson) Nupur Goenka (Executive Director) Amrish Kumar Jain (CIO) Jayati Singh (CMO) Naganagouda S J (CPO) Vikash Agarwal (CTO)
Products:	TallyPrime TSS (Tally Software Service) Tally.ERP 9 Tally.Server 9 Tally.Developer 9 Shoper 9
Location City:	Bangalore, Karnataka
Location Country:	India
Area Served:	Worldwide

Tally Solutions is an Indian multinational technology company that provides enterprise resource planning software. It is headquartered in Bangalore.^[1]

History

Tally Solutions was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka^[2] after the family's cotton business was destroyed by fire.^{[3] [4]} It began as Peutronics Financial Accountant, an accounting software application.^[5] The company was incorporated in 1991 and was renamed Tally Solutions in 1999.^{[6] [7]}

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.^[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.

• In 2006, Tally launched Tally 8.1, a concurrent multi-lingual version, and also Tally 9.^[10]
• In 2009, the company released Tally.ERP 9, a business management solution^[11]
• In 2015, the company launched a program called Vriddhi to certify and classify its business partners.^[12] Also in 2015, Tally Solutions announced the launch of Tally.ERP 9 Release 5.0 with taxation and compliance features.^[13]
• 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.^{[14] [15]}
• In 2020, the company released TallyPrime.^{[16] [17]}
• In 2022, they introduced TallyPrime Edit Log.^[18]

Products and services

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.^[19] In 2022, they worked with more than 28,000 partners. Tally Solutions has collaborated with Amazon Web Services to make TallyPrime available on the AWS.^[20] Products also include Shoper 9, which is a retail management software.

Notes and References

1. Web site: Purandare . Kunal . 2022-03-04 . Tally Solutions: Creating A Culture Of Care . 2022-04-12 . Forbes India . en.
2. Web site: Executive Profile: Bharat Goenka . bloomberg.com . 2016-07-04.
3. Web site: Bhakata . Pratik . 2020-03-10 . Tally dreams big: India's top accounting software is all set to expand into retail . 2022-05-10 . Moneycontrol . en.
4. News: Tally tries to reach for the stars. Mishra. Bibhu Ranjan. Business Standard India. 5 January 2012. 2016-06-29.
5. Web site: 2013-01-08 . Bharat Goenka(Tally Solutions) talks to us about the company's 'stubborn' decision to stay focussed on products . 2016-07-04 . ispirit.in.
6. Web site: Sharma . Rucha . 2021-03-24 . India's Best Employers: Tally Solutions, Going Back To The Drawing Board . 2022-04-19 . Forbes India . en.
7. News: Talgeri . Kunal . 27 February 2018 . How India's oldest accounting software got a new lease of life after GST . Economic Times . 3 February 2021.
8. Web site: Tally Solutions: a calculated move . indiatimes.com . 2005-02-28 . 2016-07-04.
9. Web site: Bharat Goenka discusses his dream of building Tally into a $1 bn company by 2015 . indiatimes.com . 2011-07-22. 2016-07-04.
10. Web site: Tally Launches Multilingual Accounting Software . CXOtoday.com . 2006-01-15 . 2016-07-04.
11. Web site: 2014-02-18 . Tally launches Tally.ERP 9 . 2016-07-04 . thehindubusinessline.com.
12. Web site: Tally Solutions launched new channel partner programme. indiatimes.com . 2015-03-09 . 2016-07-04.
13. Web site: Tally Solutions Set to Transform Business Taxation. ChannelWorld India. 2017-06-29.
14. News: Tally Solutions launches GST compliance software. Tyagi. Chhavi. 2017-06-22. The Economic Times. 2017-06-29.
15. News: TCS, Deloitte, EY among 34 cos shortlisted for providing GST interface. PTI. 2016-12-09. The Hindu Business Line. 2017-06-29. en.
16. Web site: Tally Solutions launches next gen business management software - TallyPrime.
17. Web site: Tally launches Tally Prime to help small businesses innovate faster.
18. Web site: 2022-03-21 . TallyPrime Edit Log to assist firms under MCA to comply with audit trail mandate . 2022-04-12 . Free Press Journal . en.
19. Web site: 2021-12-16 . TallyPrime Replaces Tally.ERP 9 as Tally's Flagship Software . 2022-04-19 . Daily Excelsior . en-US.
20. News: Tally Solutions partners with Amazon Web Services for 'TallyPrime' . The Economic Times . 2022-07-11.