Most business owners would agree that comprehensively managing all aspects of their operations is extremely challenging.
Well, Tally.ERP 9 offers a complete business management solution that can significantly improve efficiency across accounting, inventory, analytics, and more...
In this review, we'll explore Tally's end-to-end capabilities for streamlining processes, gaining data-driven insights, and supporting scalable business growth.
Introduction to Tally.ERP 9 for Comprehensive Business Management
Tally.ERP 9 is an accounting and billing software that provides businesses with a comprehensive suite of tools to manage their financials and operations efficiently. This review explores how it can serve as an all-in-one solution for business process management.
Understanding Tally.ERP 9's Role in Business Management
Tally.ERP 9 goes beyond basic accounting functions. It offers complete business administration capabilities including:
- Financial management: Accounting, billing, banking, and compliance
- Inventory management: Stock and order tracking
- Statutory processes: Taxes, payroll, and more
- Analytics and reporting
With robust customization options, Tally.ERP 9 integrates these features to give managers an eagle-eye view of their business and help them make data-driven decisions.
The Impact of Tally Solutions on SMBs
Tally.ERP 9 levels the playing field for SMBs by providing:
- Cost savings - It replaces the need for multiple software systems. The pricing plans are also affordable.
- Simplified processes - Tasks like inventory tracking and invoice generation are automated.
- Enhanced efficiency - Real-time updates on business metrics enables quicker decisions.
- Regulatory compliance - Tools for taxes, payroll, and more keep businesses complaint-ready.
This allows SMBs to focus their efforts on core operations and growth.
Navigating the Interface and User Experience
Tally.ERP 9 prioritizes simplicity in its interface:
- Minimalistic dashboard providing an overview of key financial indicators.
- Intuitive navigation between tasks like accounting, inventory, payroll etc.
- Transactions can be recorded with just a few clicks.
- Detailed reports provide insights for data-driven decisions.
These features reduce the learning curve substantially compared to traditional accounting software.
Assessing the Customization Capabilities
Tally.ERP 9 is highly customizable as per unique business needs:
- Configuration of financial processes - Users can define company policies, accounting methods, tax rates etc. as required.
- Add-on tools - Extended modules for manufacturing, POS invoicing etc. are available.
- Third-party integrations - Seamless connectivity with ecommerce platforms, payment gateways and more.
With robust scalability, Tally.ERP 9 adapts seamlessly alongside a growing business.
In summary, Tally.ERP 9 simplifies, automates and integrates critical business functions into one platform. This empowers SMBs to enhance productivity, ensure compliance, and unlock data-driven growth.
Is Tally ERP 9 discontinued?
Yes, Tally Solutions has discontinued updates for Tally.ERP 9. Any enhancements going forward will only be considered for TallyPrime, their newest product.
Tally Solutions made this decision to shift focus to TallyPrime and leverage the latest technology advancements. As the leading provider of business management software in India, Tally needs to continue innovating to serve their customers.
While Tally.ERP 9 is no longer being updated, it will continue to work for current users. However, those needing new features or compatibility updates will need to transition to TallyPrime.
Key highlights:
- Tally has discontinued Tally.ERP 9 updates and enhancements
- Focus has shifted to their newest product TallyPrime
- Tally.ERP 9 will continue working for current users
- Those needing updates will need to transition to TallyPrime
The decision makes strategic sense for Tally Solutions as they keep pace with business needs. But it may require some adjustment for loyal Tally.ERP 9 users.
What is Tally ERP 9 used for?
Tally.ERP 9 is a comprehensive business management software that is designed to handle a wide range of accounting, financial, inventory, and other core business operations.
Some of the key uses and applications of Tally ERP 9 include:
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Accounting: Tally is used for general ledger accounting, accounts payable/receivable, bank reconciliation, budgeting, branch accounting, and more. It can handle invoicing, payment tracking, expense claims, and other financial workflows.
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Inventory management: The software provides extensive inventory and warehouse capabilities such as stock item management, batch and expiry date tracking, multiple godowns/warehouses, and more. This helps businesses effectively manage their inventory.
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Order processing: Tally facilitates order management, delivery tracking, claim/renewal management, and other elements of the order processing workflow.
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Taxation: The software is equipped to handle GST, VAT, TDS, TCS and other direct/indirect tax modules in compliance with Indian regulations. This simplifies tax filing and payments for businesses.
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Reporting: Tally provides over 100+ reports spanning financial statements, inventory reports, costing reports, books & registers, and more. This enables data-driven decision making for businesses.
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Banking: Tally integrates with e-banking platforms to facilitate seamless bank statement reconciliation, payments/receipts tracking, and other banking functions through the software.
In summary, Tally.ERP 9 empowers businesses to streamline and automate a wide array of business-critical functions under a unified platform. It is designed to be a comprehensive solution for managing end-to-end business workflows.
Is Tally a complete ERP solution?
TallyPrime provides comprehensive business management capabilities, offering integrated ERP and accounting software features in one solution.
Key Highlights
- Combines accounting, inventory, statutory processes, and reporting in a unified platform
- Automates complex tasks like bank reconciliation, TDS, and GST
- Centralized data and visibility across business functions
- Scalable from small shops to large enterprises
TallyPrime aims to be an end-to-end business management solution. It goes beyond basic accounting to automate inventory, orders, billing, reconciliation, taxation, payroll, and more on a single integrated platform.
This eliminates the need for separate fragmented systems, spreadsheets, and manual processes. TallyPrime strives to help businesses:
- Streamline operations under one roof
- Reduce accounting/IT costs and complexities
- Make faster data-driven decisions with connected business insights
- Easily comply with regulations by managing statutory processes
- Scale faster as the business grows
So in summary, TallyPrime provides the core capabilities expected from ERP software while retaining its legacy as a trusted and comprehensive accounting solution. The all-in-one business management approach makes it a complete solution for today's SMEs looking to digitally transform and grow.
Is Tally a good software?
TallyPrime is an excellent accounting software for small businesses, especially those with inventory management needs. Here are some of the key benefits that make Tally a top choice:
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Comprehensive inventory management: Tally enables you to track inventory in multiple warehouses, set stock alerts, manage batches/serial numbers, and more. This level of granular control helps optimize inventory levels.
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Robust accounting and invoicing: Tally handles all critical accounting tasks like journal entries, bank reconciliation, budgeting, etc. It also makes billing and invoicing easy with customizable invoice formats.
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Scalable and customizable: You can add multiple companies and users. Tally also lets you modify existing features and add new capabilities via Tally.Developer. This makes it adaptable as your business grows.
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Available on multiple platforms: Tally offers native apps for Windows, Android, and iOS. This enables remote access and approvals via mobile devices.
In summary, Tally.ERP 9 provides a complete business management solution for small companies. Its versatility in accounting, inventory, and customization makes it suitable for most industry verticals like manufacturing, retail, services, etc. While it has a learning curve, Tally's breadth of features outweighs that initial effort for most SMBs.
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Core Accounting & Billing Features in Tally.ERP 9
Tally.ERP 9 provides comprehensive accounting and billing capabilities to streamline financial management for businesses.
Comprehensive Accounting Solutions
Tally.ERP 9 offers robust accounting functionalities including:
- General ledger
- Accounts payable and receivable
- Bank reconciliation
- Budgeting and forecasting
- Fixed assets management
It tracks all transactions and generates financial statements like profit and loss statements and balance sheets. The software reduces accounting errors and provides real-time visibility into financial performance.
Efficient Billing and Invoicing
Key billing features of Tally.ERP 9:
- Generate professional invoices
- Track payments and receivables
- Configure tax rates and slabs
- Apply discounts and promotions
Its flexible invoicing engine ensures accuracy, simplifies billing workflows, and helps businesses get paid faster.
Advanced Tax Handling and Compliance
Tally.ERP 9 automates complex tax calculations for:
- GST
- TDS
- TCS
It ensures tax compliance across central and state regulations. The software also files GST returns directly to the government portal.
Multi-currency Support and Financial Reporting
With Tally.ERP 9 businesses can:
- Conduct international trade in multiple currencies
- Hedge against currency rate fluctuations
- Get consolidated reports across currency transactions
It also offers extensive financial reporting capabilities including ratio analysis, profitability reports, cash flow statements and more. These reports provide data-driven insights for better decision making.
In summary, Tally.ERP 9 reduces accounting headaches with robust core functionalities. It streamlines billing, tax handling, financial reporting and all critical finance operations for businesses.
Inventory Management and Insights with Tally.ERP 9
Tally.ERP 9 provides robust inventory management capabilities to help businesses track stock levels, optimize ordering, and gain insights into performance. Key features include:
Streamlining Inventory Tracking
- Real-time updates of inventory transactions and stock levels
- Barcode and serial number tracking for detailed monitoring
- Multiple godowns/warehouses supported for storage locational tracking
- Batch-wise tracking for expiry date management
Tally.ERP 9 ensures all inventory movements and levels are visible in real-time. Serial numbers and barcodes track specific units while batch tracking aids expiry date control.
Inventory Valuation and Cost Analysis
- Supports FIFO, LIFO, weighted average, and user-defined costing methods
- Landed costing to incorporate additional costs like freight and insurance
- Price lists for customized pricing of items and services
Valuate inventory accurately as per business needs by choosing appropriate costing methods. Incorporate additional costs into inventory valuation through landed costing.
Order Management and Replenishment
- Purchase and sales order processing with commitments tracking
- Reorder levels and economic order quantity for auto-calculation of replenishment
- Stock queries and registers provide inventory analytics
Streamline order management while optimizing replenishment levels through integrated analytics.
Reporting Inventory Performance
- Day book, stock summary, and other inventory statements
- Drill-down for detailed analysis of stock items' performance
- Exports to Excel, PDF and email for sharing insights
Comprehensive reporting with drill-down analysis empowers data-driven decisions to enhance inventory management.
With robust tracking, valuation, analytics, and reporting, Tally.ERP 9 provides end-to-end inventory management capabilities for optimized stock control and operational efficiency.
Business Intelligence & Data Analytics in Tally.ERP 9
Tally.ERP 9 provides robust business intelligence and analytics capabilities to empower data-driven decision making. By harnessing real-time financial and operational data, businesses can gain strategic insights to guide planning and growth.
Harnessing Real-Time Data for Business Strategy
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Tally.ERP 9 connects data across sales, purchasing, inventory, and accounting to create an integrated view of business performance. This enables identifying trends, opportunities, and challenges in real-time.
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Dashboards provide an at-a-glance overview of key metrics like profits, revenue growth, working capital, payables, and receivables. This supports data-backed strategy setting aligned with financial KPIs.
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Real-time data and alerts on inventory levels, sales patterns, and cash flow position businesses to respond quickly to changes in the market. This drives competitive advantage and resilience.
Customizable Dashboards and Reports
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Tally.ERP 9 offers pre-configured dashboards and reports for all core business functions. Users can also fully customize reports to focus on the most relevant KPIs.
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Dashboards and reports can be customized by location, product line, customer segment, or other parameters to get segment-level visibility. This enables targeted decision making.
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Scheduled generation and sharing of reports ensures managers get the latest performance data without manual intervention. This saves time while enabling quick response to emerging trends.
Predictive Analysis and Forecasting
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Tally.ERP 9 provides budgeting and forecasting tools leveraging historical data. Businesses can set revenue, cost, and profitability targets for better planning.
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Predictive analytics capabilities empower businesses to anticipate future performance based on emerging trends. This supports continuity planning and mitigates risk.
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Users can run unlimited "what-if" scenarios to stress test business plans. This enables optimization of strategy and resource allocation for the best possible outcomes.
Data Security and User Access Control
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Tally.ERP 9 prioritizes data security with encryption, data backups, and remote access control. This safeguards integrity while enabling anytime access.
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Granular user access controls restrict data visibility as per roles and responsibilities. Sensitive data can be compartmentalized, preventing unauthorized access.
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An audit trail feature tracks all user activity for accountability. This deters fraud while enabling transparency in data updates.
Tally.ERP 9 in Action: Case Studies and Real-World Applications
Illustrating the practical applications of Tally.ERP 9 through real-world examples and success stories from various industries.
Success Stories from Retail Sector
Tally.ERP 9 has helped many retail businesses streamline their operations and boost productivity. Some examples:
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A small grocery store chain implemented Tally.ERP 9 and saw a 15% reduction in operational costs within 6 months. Inventory management improved significantly with real-time tracking and reports.
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A large apparel retail store integrated their POS system with Tally.ERP 9. This improved supply chain visibility and helped optimize stock levels. Their overall inventory turnover ratio increased by 20%.
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A pharmacy retailer configured Tally.ERP 9 as per their complex billing and regulatory needs. This reduced billing errors by 30% and improved customer satisfaction.
Impact on Manufacturing Efficiency
Manufacturers who have deployed Tally.ERP 9 have reported notable improvements:
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An auto component manufacturer automated production planning and scheduling using Tally.ERP 9. This increased production efficiency by 25%.
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A packaging materials producer integrated Tally.ERP 9 with their shop floor machines. Daily production updates helped optimize capacity utilization by 18%.
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A food processing company implemented batch management and quality control modules. This reduced wastage by 12% and improved quality consistency.
Service Industry: Streamlining Operations
Service businesses like hotels, hospitals, and logistic companies have used Tally.ERP 9 to great effect:
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A logistic firm configured route planning and vehicle maintenance capabilities, reducing fleet running costs by 30%.
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A hotel chain leveraged Tally.ERP 9's room booking and housekeeping modules to improve occupancy rates by 22%.
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A hospital applied Tally.ERP 9's pharmacy management module. This decreased medication errors by 15% and improved patient safety.
The Role of Tally.ERP 9 in Scalable Business Growth
Tally.ERP 9 empowers businesses to scale rapidly by providing:
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Consolidated views of multi-branch operations giving headquarters real-time visibility of regional performance.
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Centralized control over inventory, finance, HR enabling efficient decision making.
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Automated processes like inter-branch stock transfers, approvals reducing administrative overheads.
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Custom reports for key metrics allowing identification of growth opportunities.
These capabilities have helped businesses across manufacturing, retail, hospitality etc. expand smoothly into new markets and geographies.
Making the Decision: Evaluating Tally.ERP 9 for Your Business
Guidance on assessing the suitability of Tally.ERP 9 for different business models and scales.
Comparing Tally.ERP 9 with Other Accounting Software
Tally.ERP 9 stands out from other accounting software solutions in a few key ways:
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Comprehensive features: Tally.ERP 9 is an all-in-one solution for accounting, inventory management, statutory processes, and more. This eliminates the need for multiple systems.
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Flexibility: Tally.ERP 9 can be customized to meet the unique needs of various business sizes and models, from small shops to large enterprises.
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Ease of use: The software uses a simple, intuitive interface that is easy to learn and use even for non-accounting staff. Minimal training is required.
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Affordability: Tally.ERP 9 is offered at a fraction of the cost of solutions like SAP or Oracle. The pricing structure scales according to business needs.
When comparing Tally.ERP 9 to QuickBooks, FreshBooks, Zoho Books or other accounting platforms, it matches or exceeds the core features while offering more flexibility and customization options. The comprehensive nature of Tally.ERP 9 makes it suitable for complex business processes beyond basic accounting.
Cost-Benefit Analysis of Tally.ERP 9 Investment
Investing in Tally.ERP 9 can yield significant cost savings and productivity gains:
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Consolidates systems: Eliminates the need for separate software for accounting, inventory, payroll, etc. saving on licensing costs.
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Scales with business: Pay only for the functionalities needed at various growth stages, avoiding over-investment.
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Saves time: Automates repetitive processes, provides real-time data for faster decisions. Estimated productivity boost of 20-30%.
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Lowers compliance risk: Handles complex GST, TDS and other statutory processes through automated tools. Reduces audit risk.
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Enables innovation: Frees up resources to focus on core business activities instead of manual processes.
While the upfront cost may seem high for micro and small businesses, the long-term productivity and innovation gains outweigh the investment. For larger businesses, the ROI is achieved within the first year itself.
Understanding the Pricing Model and Value Proposition
Tally.ERP 9 uses a pay-per-use licensing model based on the number of concurrent users. Buy only what you need today, then seamlessly scale up as the business grows.
The pricing is highly competitive compared to other enterprise-grade solutions. Yet Tally.ERP 9 matches or outperforms competing tools in features, flexibility and ease-of-use.
The value lies in consolidating all critical business processes under one platform that can adapt to growth needs. This eliminates the need for multiple systems, which greatly simplifies operations.
For the capabilities unlocked, Tally.ERP 9 provides immense value especially for medium and large businesses. The ROI typically exceeds costs within 12 months.
Accessing Resources and Community Support
An extensive knowledge base, documentation, training videos and community forums can help users get the most from Tally.ERP 9:
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Knowledge Base: Searchable articles and tutorials covering software features and business processes.
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Documentation: Detailed user manuals with screenshots and step-by-step instructions.
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Training Videos: On-demand courses and webinars to self-learn the software.
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Community Forums: Discuss issues and best practices with a network of over 1.5 million Tally users and experts.
Between the structured learning resources and peer community support, users have multiple avenues to resolve issues and expand their mastery of Tally.ERP 9.
Conclusion: The Comprehensive Business Management Solution
Tally.ERP 9 provides a complete business management solution for companies of all sizes across various industries. Here are some key takeaways:
Final Thoughts on Tally.ERP 9's Impact on Business Efficiency
Tally.ERP 9 can have a significant positive impact on business efficiency and productivity. Some of the key benefits include:
- Automated processes for accounting, inventory, statutory compliance, and more save time and reduce errors
- Real-time visibility into all business operations helps managers make data-driven decisions faster
- Customizable features and integrations tailor Tally to each company's unique needs
- Scalability supports business growth without needing to switch solutions
By streamlining workflows, providing actionable insights, and adapting to evolving needs, Tally.ERP 9 enables businesses to be more organized, agile, and efficient.
Is Tally.ERP 9 Right for Your Business?
Tally.ERP 9 is suitable for small, medium, and large businesses across manufacturing, retail, distribution, services, and other sectors.
Key factors that make Tally.ERP 9 a good fit:
- Need to manage accounting, finance, inventory, statutory processes
- Interested in automation and real-time data for faster decisions
- Rapidly growing and need a scalable solution
- Have multiple locations or entities to manage
With robust features tailored specifically for business management, Tally.ERP 9 is the right choice for most organizations looking to streamline operations, cut costs, and enable growth.
