Stuck with your Financial.Management? Hand it over to Tally
Financial management is crucial for businesses and how important it may be, it can also be one of the most difficult business aspects to manage. Since it involves thousands and millions of numbers, it is extremely time and efforts consuming. Collecting financial data from multiple sources and combining them to extract the required information is not only difficult but also highly risky. It can take up nearly half of the accountant or manager’s precious time and, therefore, investing in a reasonable financial and accounting management software is probably the best thing you could do for your business and its growth.
Benefits of Tally ERP. 9
Tally ERP offers multiple advantages to businesses of all sizes. Some of its main benefits include:
Comprehensive Solution for Every Business
Regardless of its size or type, Tally is equally beneficial for small,I’d and big sized businesses. Small businesses have limited operations and work capacities and to keep things smooth, it needs strong focus to work and manage it. Tally ERP is a sound accounting and taxation software that helps small businesses in managing within its limited resources. Mid and big sized organizations have multiple departments and operating centers, which makes them difficult to manage and keep up with. Tally ERP is fully integrated to support multiple operations with effectiveness. It streamlines their various functions and keep all records consolidated at a single place.
Single Management Point for Entire Business
Before the introduction of ant resource planning and management software, businesses had to keep different files, tools and documents for different business departments. In case of production business, things get way more complicated as the management of warehouse and inventory was tough and required more resources. With Tally, businesses can manage accounting, inventory and stock and quality assurance and compliance with a single software. Business owners and managers can see the influence of financial activities on different areas and take decisions accordingly. Improved GST Compliance Ever since the introduction of GST filing and the benefits associated with it, regular dealers and businesses are quite interested in it. But to avail those benefits, businesses need an integral software to recorded business data in GST compliant form at to file for the returns. Usually, the whole process can be daunting as the businesses may not be aware with the
GST compliant filing method and miss big on benefits. With Tally Release 6, businesses get GST compliance benefits as it helps in formatting business data as per the compliant format and file for the returns. The required information and data can be accessed through the system and the process can be completed without
any hassle and delay.
Cross Functional Business Management
By cross functional we are talking about the businesses and organizations that have multinational league and considerably widespread operations. Such businesses have to use multiple resources and tools to manage the or workload while making as less errors as possible. This could be quite time and cost co summing as well as more managing resources mean more investment. Tally ERP allows businesses to manage its multiple departments, operations and units with single tool and from a single point. Instead of hiring more workforce to manage the operations and business units, Businesses can integrate all units and departments and manage them accordingly.
Remote Access to Employees
Virtual and remote working environment is on a rise and businesses are moving towards creating and supporting remote offices and workforce. However, to make the working possible and successful, businesses have to give the remote employees access to the official software so that they can get into the business interface. The is could be both helpful and risky because then they may also have the access to sensitive data. Tally allows the businesses to support remote working environment without giving the employees access more than they require. The feature is quite good for warehouse and inventory management as the manager can access the information from the warehouse and without the need of being at his desk. Similarly, taxation office and company auditor can have their hands on the required information to process tax and auditioning activities.
Scalable Business Management
For a successful business, scalability is key, for small businesses software supporting limited operations is best while for businesses with more complex work, such software support is good. However, there are many businesses who have started as small entities but are planning to expand the or horizon. For such businesses, none of the above mentioned software type world be good as in the start, they may not have the finance to invest in a big costly software. Tally ERP is extremely scalable in this regards as it grows with a business without burdening it with extra charges. For small businesses, it has the right kind of options as they can manage their cash flow, accounting, payroll etc. with it, which is quite basic. For more complex business units, it has expandable qualities as it allows modular addition that could
support compliance, multiple cashflows and in-depth financial management, along with with basic ones.
Data Security and Reliability
Data Security is an extremely sensitive matter; businesses need to have strong hold on their data that is used for multiple purposes. However, handling of this data can be difficult as businesses do not want to give free access to everyone and also keep the data’s reliability solid. This information gathering, collecting and saving process can be interrupted due to many reasons. Once Tally is installed, businesses do not have to worry about the disturbances that may occur in the recording of the data. It’s data base is extremely safe as no outside changes can effect its working or the data that has been saved in it. It also prevents data duplication, in
case the machine was interrupted during the work process.
Real Time Reporting Benefits
Reporting is an essential part of a business; low level management reports to the upper level managers and they use those reports to understand the business better and take key decisions. Generating reports of involves loads of slicing and dicing of data, which can be both tiresome and prone to errors and mistakes. The process is time consuming and even after that, no one can be sure that the report is hundred percent accurate. Tally provides real-time reporting and data gathering benefits to its users. Managers can collect the required data from each, or the concerned, department and can prepare the reports within a fraction of time and efforts. Moreover, the accuracy is absolutely reliable and can be rechecked any time during the process.
Improved Sales Closing Cycle
Sales cycle requires involvement of team members from different departments. Die to this, there are significant chances and occurrence of delays, which further influences the sales closing. Keeping strong communication with the clients and being quick to response is essential to have good reputation and to give clients a memorable sales experience. However, this delay in the sales cycle or process can be irksome for both the client and the people dealing with them. Tally ERP’s fully integrated business data collection and saving system allows each member of the team and the organization to access the information whenever needed. This way,
businesses can shorten the sales cycle and the time saved on it can be used for closing more sales.
Agile Invoice and Banking Management
In production and manufacturing businesses, especially, invoicing and bank management takes on loads of time of the accountants and financial managers. Tracking of orders and payments, invoice sending and managing the transactions are quite sensitive. That’s why, people involved in these activities are mindful and focused, but, this also means that managing of these processes is stressful. Tally provides automatic bank reconciliation and management benefits that free the businesses from worrying about monthly corporate banking management and tracking of the invoices. With this they can track the cheques issued and generate cash deposit slips also, in case of reference for clients.
Better Decision Making
Each day businesses have to take key decisions and many of them are those that need to taken promptly. Without availability of the desired data and reports, taking of decisions on the go is near to impossible and there are good chances of significant loss of time as well. Tally speeds up the decision making process by keeping in line all the important data and documents. The decision makers and managers may access them any time needed and use it to know the present and future prospects of the business. Through this software they can get instant and accurate reports of business payments and outstanding, stock ageing analysis, business cost estimates and profit analysis. All of this is important for a business and Tally ERP makes sure that they are ready to be utilized any time.