Encouraging India towards an API-driven Compliance System, Tally eyes a CAGR of 30-40% in 3 years

~Redefines Connected Experience with fully Connected-GST capability and expands global multi-lingual integration, with the all-new TallyPrime 5.0~

Mumbai, 12 September 2024: With the continued vision to empower the backbone of the Indian economy – the fast-growing MSME sector; Tally Solutions today announced the global launch of the all-new TallyPrime 5.0, elevating its suite of Connected Services. A leading technology company providing business management software, Tally brings a new paradigm in connected services with API-driven tax filing. The launch is in line with the company’s vision to enhance business operations for the mid-mass segment both in India and globally.

The latest version with ‘Connected GST’ will serve as a consolidated interface for all online GST operations, without having to visit the GST portal. This release further strengthens Tally’s connected experience which includes e-invoicing and e-way bill generation capability, WhatsApp integration, etc. Additionally, addressing the increasing demand in the Middle East and Bangladesh, TallyPrime 5.0 adds advanced multi-lingual capabilities that will extend to Arabic and Bangla language interfaces with phonetic support.

The new solution encapsulates an array of unique features including a direct connect* to the GST portal which enables fast data upload/download, GSTR1 return filing, new recon flexibilities, including GSTR-1 recon and GSTR-3B recon features unique to Tally, Input Tax Credit (ITC) at risk identification and ledger creation. The feature also supports end-to-end ‘bookkeeping to return filing’, bringing an integrated experience.

With this new launch and other product pipeline initiatives, Tally is aiming to expand its current user base of 2.5 million+ by 50% over the next 3 years, while eyeing a CAGR growth of 30-40%. Sharing his views, Mr. Tejas Goenka, Managing Director, Tally Solutions said, “We’re continuously innovating our technology to help simplify business operations for MSMEs. Our latest release is designed to make GST filing simpler and hassle-free for Indian businesses. Currently, only a small portion of businesses use API-based filing, but we’re aiming to change that. With this latest launch, our focus is to consolidate the end-to-end GST filing journey of MSMEs, enabling them to save 60%-70% of their time. This release will also give a real-time status of their suppliers’ GST, safeguarding their ITC.”

MSMEs are seeking effective tech solutions for their operations, and TallyPrime 5.0 provides a simple, secure, and reliable solution. It enhances business management with new features and builds on existing ones like e-invoice generation, user-friendly dashboards, WhatsApp integration, and Excel imports. This new launch is in line with Tally’s mission to connect businesses with their ecosystem and elevate user experience. The latest release is free for all active TSS subscribers.

*TallyPrime 5.0 allows online operation for GSTR1, GSTR2A, GSTR2B, GSTR3B and CMP-08

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About Tally Solutions?

Tally Solutions Pvt Ltd is a tech and innovation-led company, providing business management software products globally. Since its inception in 1986, Tally's simple yet powerful products have been revolutionizing the way businesses run. Having delivered path-breaking technology consistently for nearly 4 decades, Tally symbolizes unmatched innovation and leadership. With over 2.5 million customer licenses activated worldwide, it caters to more than 7 million users across industries in over 100 countries. The brand has one of the largest partner ecosystems in the country with more than 28,000 partners associated with the company directly to provide a seamless and delightful customer experience.?