Tally Solutions, a leading international technology company providing business management software, showcased the latest version of TallyPrime at GITEX 2024.
Under the theme “Perfectly Simple” the latest version, TallyPrime 5.0 facilitates seamless business operations in multiple languages be it Arabic or English, without compromising on accuracy or consistency.
While speaking to Dubai Newsweek, Nupur Goenka, Executive Director of Tally Solutions, shared insights into the company’s innovative approach and future plans.
“We are a product and technology company that has been around for nearly 40 years, having started back in 1986 to serve small businesses. Most of our users utilize our product for accounting, compliance, and payroll. The magic of Tally lies in a couple of key areas.”
Nupur Goenka
Goenka emphasized the company’s dedication to crafting its technology stack, stating, “We build our own database, programming language, and memory manager. This foundation allows us to deliver exceptional experiences with Tally. We truly understand how small businesses operate. When they use our product, they don’t need to change how they run their business; our product adapts to help them manage their operations seamlessly.”
TallyPrime 5.0
While discussing TallyPrime, the company’s flagship product, Goenka said, “We recently released TallyPrime 5.0, which we’re excited to introduce to business owners across the Middle East. This version supports both Arabic and English, enabling users in the Middle East region to operate in their preferred language.”
TallyPrime 5.0 provides a seamless and complete multilingual interface, fluent in both Arabic as well as English, helping businesses work efficiently using these two languages in managing processes as simple as creating invoices, generating reports, and printing documents in their preferred language.
AI takes centre stage
As the discussion turned to the era of artificial intelligence, Goenka noted, “Tally has historically been smart software, incorporating features we now refer to as natural language processing and intelligent search for decades. Currently, we’re doing extensive research to explore how to deliver transformative AI experiences tailored to the businesses we serve.”
She highlighted the importance of cost-effectiveness and accuracy for small businesses. “Many of these businesses can’t afford high expenses but still require powerful insights to operate efficiently. Additionally, businesses must have complete confidence in the reliability of their financial information.”
When asked about Tally’s competitive edge in the market, Goenka explained, “Our focus has always been on understanding our customers’ workflows and helping them operate more effectively. We’ve created highly efficient databases and memory management systems that provide unique experiences difficult to replicate.”
Cybersecurity
Addressing concerns around data security, she reassured, “Tally is incredibly secure. No one at Tally has access to any customer data. This has always been our policy. We prioritize customer privacy and data ownership.”
Looking ahead, she noted that Tally is always open to collaborations. “We engage with many companies. Back in India, we’ve partnered with firms like Meta and AWS, and we’re exploring new partnerships in the Middle East as well.”
UAE is Tally Solutions second-largest market
With a forward-looking vision, Goenka remarked, “The UAE is our second-largest market after India. The next decade will be defining, not just for the world but for the Middle East as well, with new businesses and entrepreneurs emerging. It’s an exciting time, and we look forward to being a part of this growth.”
In her concluding remarks Goenka expressed her awe at the GITEX’s scale and organization. “I am truly in awe! I’ve seen so many companies I could think of. I’d love to spend the entire day exploring the different booths and learning about what’s out there.”
VAT regulations
Amidst the growing demands for compliance requirements in GCC, Tally has been supporting thousands of businesses in the region to seamlessly comply with VAT regulations.
With speculation of e-invoicing being implemented beyond just the Kingdom of Saudi Arabia, Tally’s advanced e-invoicing features are designed to help businesses remain effortlessly compliant with all e-invoicing regulations, specifically, the FATOORA guidelines set by ZATCA.
Users can generate e-invoices with QR codes in both English and Arabic, store and archive invoices in XML format, and get exclusive reports, including user event logs, giving them a complete view of all e-invoicing tasks. It supports real-time e-invoicing and tax documentation in compliance with local regulations, providing accurate translations and detailed reporting.
tanvir@dubainewsweek.com
