Review: 7 things to know about TallyPrime – News
Almost two million Tally Solutions customers can expect TallyPrime to be the latest offering from the business management software giant. TallyPrime is the go-to support partner for the growth of any organization, making your decision-making process pleasantly simple by providing and tracking your critical reports – whether it’s finance, cash flow, cost analysis, inventory, accounting, etc. – efficiently and reliably.
Tally recently launched TallyPrime for Small and Medium Business (SMB), and they called it the new Business Manager in all of their campaigns.
While TallyPrime is packed with features, we ourselves take a look at the product on specific parameters to see how capable this manager can be for your business in the Middle East market:
Why do you need TallyPrime?
There is no doubt that today’s businesses demand fast yet reliable, simple and yet efficient and user-friendly data management software for everyday use – whether it’s accounting for purchases, receivables, debts or inventory tracking, order processing, payroll management, banking transactions, compliance, etc. This is where you need to consider an integrated business management solution that can handle all of these requirements of your business.
The Seven Point Checklist for TallyPrime
As with every product launch, business owners often worry about the challenges of integrating the new product into their requirements. Therefore, we based our review of this new business manager to see how complete and functional TallyPrime can be. The seven key areas, how confidently and smoothly your business can grow, are:
1. Cost of implementation
2. Installation time
3. Remote connectivity
4. VAT capacities
5. Growing business needs
6. Product information
7. Customer support.
Cost of implementation
So the most crucial concern: what is the basic IT infrastructure requirement? And is it a recurring cost? In fact, all you need is a 64-bit Windows operating system and a very basic hardware configuration – a PC or a laptop – to get started. TallyPrime comes with a lifetime license, which means you own the license and never have to pay license fees again. There is a small surcharge for an annual subscription for Tally Software Services, better known as TSS, to access value-added services.
Setting up business management software can be a bit daunting, but not with TallyPrime. It only took a few minutes for us to install and start using the product. You can configure the software to suit your business needs while on the go. The software is incredibly intuitive and therefore no training is required.
Can you access your data from anywhere? And, if so, is it a secure connection? TallyPrime offers connectivity anywhere via a secure connection. You can reliably access TallyPrime reports using any device – laptop, smartphone, tablet, etc. – with a web browser and an active Internet connection. And when it comes to security and control, you have full control over who views reports and what reports are available to a user. In addition, the master data will always be in your machine. Whenever a user views a report in a browser, only the data required for that report is retrieved from your TallyPrime.
MENA businesses have been required to comply with VAT since its introduction in 2018. With TallyPrime, you can generate VAT compliant invoices in English and Arabic, and stay on top of compliance with its precise filing capabilities . The software also helps you avoid human errors and offers corrective actions thanks to its VAT triangulation reports.
Growing business needs
For several companies or branches within the same organization, SMEs do not have to worry. A TallyPrime license allows owners to keep books of accounts and manage ERP management for multiple companies. As the business grows, it is also possible to add more and more users. With Tally’s MU license, you can actually have any number of people licensed on the same network. More importantly, there is no need to pay for each new module / feature activated. TallyPrime offers an integrated solution with which SMBs can manage all of their business needs without having to pay extra.
Reports and information
The numbers tell a story. The bottom line for every business comes down to the numbers. With TallyPrime, it is possible to gain a 360 degree view of your operations through insightful business reports, which will help you assess the performance of the organization. With a wide range of options with over 400 business reports in TallyPrime, it becomes much easier to assess organizational performance and make decisions with confidence.
Let’s come to the most crucial question: How good is TallyPrime’s customer support? Tally Solutions has one of the strongest support network systems with good regional representation, providing coverage through over 200 Tally Certified Partners across the Middle East and telephone support, e- 12×7 toll free mail and chat.
Although we have evaluated the settings above, there have been recent improvements in TallyPrime. These functional and incredibly easy features promise to make life and business smooth:
The essential software for your business
The “Go To” tool is arguably the most important of the reliable tools included in the main innovation of TallyPrime software. It helps you quickly find data, information and functionality. Whether it’s finances, stocks or taxes, with “Go To” you can now easily search, explore, discover and view all new information in one place to better manage your business, even without knowing the navigation path.
Your reports, your way
The other main tool is the “Switch To”. If you don’t want to abandon your current task and want to go back to what you are doing, use “Go to”. However, if you agree to abandon your current task and just want to move on to something new, use “Skip to”. Both tools inherently support multitasking, handle daily interruptions, and help transition between reports.
More tools … and an improved reporting engine!
TallyPrime’s reporting engine is simply magical and it gets even more insightful with “Change View”, “Basis of Values” and “Exception Reports” that you will get through the product. Let’s take a closer look:
Alternative viewing option
TallyPrime’s “Change View” feature suggests alternate views of the same report for better information. So if you want to see your bi-monthly sales trends from your sales ledger or inventory by item summary, “Switch View” will do that.
Offer new perspectives
TallyPrime’s “Basis of Values” changes parameters in reports to provide a different perspective. If you want to view overdue invoices in your “overdue report” or “working capital” while reviewing your balance sheet, “Value Base” is here to help.
Exception reports: one click to get data exception alerts
TallyPrime not only helps you manage the exceptions and data anomalies you encounter in businesses, but also makes your data stand out with one click. With “exception reports” highlighting the data that should stand out in reports, you discover more and manage your business better. So, if you want to filter out inventory items with a negative balance or post-dated transactions from your daily ledger, “exception reports” will come in handy. You can even select “Below Replenishment Level” to see which items are missing and need to be replenished.
TallyPrime has introduced more enhancements to make your life and business deliciously simple. Take a look at some:
User-friendly features and help:
TallyPrime is extremely user-friendly. You will rarely need assistance or help to run a product as needed. And just in case you do, the in-product help will guide you in depth so you can find a way on your own.
Intelligent configuration manager as a guide:
The intelligent configuration manager tool can interact with any component of the system or device on which TallyPrime is running and guide you through troubleshooting licensing or running application issues, if applicable.
One for all and all for one. While TallyPrime provides a license for multiple companies, likewise, the “single sign-on experience” can load multiple companies with the same credentials using a single login for easy access.
Smooth transition, with the strengths of Tally.ERP 9
The main strengths of Tally.ERP 9 continue to exist in TallyPrime, including: perpetual license as stated before – where you only pay once for the license, incremental implementation – where the product is designed keeping in mind mind your growth so you can activate features as you grow (full suite from day one), browser access – where you can now access your key business reports anywhere and compliance VAT – in accordance with GCC guidelines. It ensured a smooth upgrade to TallyPrime.
When the foundation of your business plan is carved out of simplicity, it becomes much easier to set up other critical processes more transparently. From bookkeeping to filing the VAT return and inventory to crucial decision making, every business has so many nuts and bolts. TallyPrime is robust software that can hold them together to ensure tight operation. Integrated with amazing features and capabilities, TallyPrime is designed to give you the best experience in the easiest way possible. Visit their website www.tallysolutions.com to sign up for a free TallyPrime experience.