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Review: 7 things you should know about TallyPrime

Filed on March 21, 2021 | Last updated on March 21, 2021 at 03.59 pm

 

Nearly two-million customers of Tally Solutions can look forward to TallyPrime as the latest offering from the business management software giant. TallyPrime is the quintessential support partner for the growth of any organisation, making your decision-making process pleasantly simple by providing and tracking your critical reports - whether it is financial, cash flow, cost analysis, inventory, accounting, etc - efficiently and reliably.

Tally has recently launched TallyPrime for small and medium-sized businesses (SMBs), and they have been calling it the new Business Manager across their campaigns.

While TallyPrime is packed with a ton of features, we review the product ourselves 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 a fast but reliable, simple and yet efficient user-friendly data management software for everyday use - be it accounting in purchase, receivables, payables or inventory tracking, order processing, payroll management, bank transactions, statutory compliance, etc. This is where you need to consider an integrated business management solution that can handle all these requirements of your business.

The seven-point checklist for TallyPrime

As with the launch of every product, business owners often worry about the challenges of incorporating the new product within their requirements. Therefore, we based our review of this new business manager to see how comprehensive and functional TallyPrime can be. The seven key areas, how confidently and smoothly your business can grow with it, are -

1. Cost of implementation

2. Setup time

3. Remote connectivity

4. VAT capabilities

5. Growing business needs

6. Product insights

7. Customer support.

Cost of implementation

So, the most crucial concern: What is the basic IT infrastructure requirement? And is it a recurring cost? Actually, all you need is a 64-bit Windows OS and a very basic hardware setup - a PC or Laptop - to get started. TallyPrime comes with a lifetime license, which means you own the license and you do not have to pay the license fee ever again. There is a small charge for an annual subscription for Tally Software Services, better known as TSS for accessing value-added services.

Setup time

Setting up the business management software can be a bit daunting, but not with TallyPrime. It took us only a few minutes to install and start using the product. You can setup the software as per your business requirements on the go. The software is incredibly intuitive, and hence, there is hardly any training required.

Remote Connectivity

Can you access your data from anywhere? And, if so, is it a safe connection? TallyPrime does offer connectivity everywhere through 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 as far as security and control are concerned, you have complete control on who views the reports, and which reports are available to a user. Further, the core data will always be in your machine. Whenever a user views a report in a browser, only the data required for that report is fetched from your TallyPrime.

VAT Capabilities

Businesses from the MENA region have had to comply with VAT since it was introduced in 2018. With TallyPrime, you can generate VAT-compliant invoices in both English and Arabic, and stay on top of compliance with its accurate filing capabilities. The software also helps you avoid human errors and suggests corrective course of action with its VAT triangulation reports.

Growing business needs

For multiple companies or branches within one organisation, SMBs need not fret. One TallyPrime license allows owners to maintain books of accounts and handle ERP management for multiple companies. As the business grows, there is also flexibility to keep adding more users. With Tally's MU license, one can actually have any number of people operating on one license on the same network. More importantly, one need not pay for each new module/feature that is enabled. TallyPrime offers an integrated solution with which SMBs can manage all their business needs without having to pay extra.

Reports and Insights

Numbers tell a story. The bottom line for every business is down to numbers. With TallyPrime, it is possible to get a 360-degree view of your operations through insightful business reports, which will help you to assess the performance of the organisation. With a wide array of options with more than 400 business reports in TallyPrime, it becomes a lot easier to assess the performance of the organisation and make confident decisions.

Customer Support

Coming to the most crucial question: How good is TallyPrime's customer support? Tally Solutions has one of the strongest support network system with good region-specific representation, providing cover through 200-plus certified Tally partners across the Middle East and 12x7 toll-free phone, email and chat support.

While we have evaluated the above parameters, there have been recent enhancements in TallyPrime. These functional and incredibly effortless features promise to make life and business smooth:

The go-to software for your business

Arguably the most significant among the reliable tools bundled in the TallyPrime software's master-innovation is the 'Go To' tool. It helps you find data, information and features quickly. Be it finance, stock, or taxes, with 'Go To', you can now conveniently search, explore, discover, and view all new insights in one place to run your business better, even without knowing the navigation path.

Your reports, your way

The other prime tool is the 'Switch To'. If you do not want to abandon your current task, and want to return to what you are currently doing, use 'Go To.' However, if you are OK with abandoning your current task, and just want to switch to something new, use 'Switch To'. Both tools inherently support multi-tasking, handle day-to-day interruptions, and help move from one report to another.

More tools ... and an enhanced 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 across the product. Let's take closer a look:

Alternate viewing option

TallyPrime's 'Change View' suggests alternative views of the same report to get better insights. So, if you want to look at your fortnightly sales trends from your sales register or your stock summary item-wise, 'Change View' will make it happen.

Offering new perspectives

TallyPrime's 'Basis of Values' changes the parameters in reports to provide a different perspective. If you want to look at overdue bills in your 'outstanding report' or your 'working capital' while reviewing your balance sheet, 'Basis of Values' is there to help.

Exception Reports : One click to get data exceptions alerts

TallyPrime not only helps you handle exceptions and data anomalies that you encounter in businesses, but also make your data stand out at the click of a button. With 'Exception Reports' highlighting the data that should stand out in the reports, you discover more and run your business better. So, in case you want to filter out stock items with negative balance or post-dated transactions from your daily book, 'Exception Reports' will come in handy. You can even select 'Below Re-order level' to see items that have a shortfall and need to be replenished.

Features galore

TallyPrime has introduced more enhancements to make your life and business delightfully simple. Have a look at some:

User-friendly functionality and help :

TallyPrime is extremely user-friendly. You will rarely need any support or help in running any product as per your needs. And just in case you do, the in-product help will guide you thoroughly so that you can figure out a way yourself.

Intelligent setup manager as your guide :

The smart setup manager tool can interact with all components of the system or device where TallyPrime is running and guide you to troubleshoot licensing or application run-time issues, if any.

Simplified access

One for all, and all for one. While TallyPrime provides with one license for multiple companies, likewise the 'Single Sign-On experience' can load multiple companies with the same credentials using a single log-in for simplified access.

Smooth transition, with core strengths of Tally.ERP 9

The core strengths of Tally.ERP 9 continue to exist in TallyPrime, which include: Perpetual License as stated earlier - where you pay only once for the license, Incremental Implementation - where the product is made keeping your growth in mind so that you can enable the features as you grow bigger (complete suite from Day 1), Browser Access - where you can now access your key business reports anywhere and VAT Compliance - as per the GCC guidelines. It has ensured a smooth upgrade to TallyPrime.

Conclusion :

When the basis of your business plan is carved out of simplicity, it becomes much easier to get other crucial processes in place more seamlessly. From accounting to VAT return filing and inventory to crucial decision making, every business has so many nuts and bolts. TallyPrime is one robust software that can hold them together for ensuring a tight operation. Built-in with some amazing features and capabilities, TallyPrime is designed to give you the best experience in the simplest way possible.Visit their website www.tallysolutions.com to register for a free TallyPrime experience.