Tally ERP is no doubt a name you are familiar with. It is an accounting software that is used the world over, and is one of the most popular accounting systems in the world.
But why is Tally so popular and why do so many businesses rely on it for their core financial functions? While there are countless reasons why people choose Tally ERP, we take a quick look at our top 5 reasons why Tally ERP is so popular.
1. Easy maintenance
Softwares and systems can often be complex to maintain and require advanced IT staff to manage the systems. This is one of the areas where Tally ERP stands out.
Tally features a far simpler file and database store that makes it easy to maintain, easy to manage and easy to backup as well. The backup and maintenance activities are generally easy enough for a novice user or a simple end-user to task through.
2. Easily accessible support
Probably a chicken-and-egg scenario, but Tally has one of the largest user base in the World. The software has over 1.8 million licensed users. There are numerous resellers and trainers available all over the World who are able to provide the necessary training and support.
But what makes Tally even more attractive is the widely spread online communities, discussion boards and groups where other users from around the World provide timely support and answer questions.
You can also get instant paid support online from other users around the world through marketplaces like Fiverr.com, Upwork.com or Freelancer.com.
3. Ease to Inventory
For businesses that have a need to maintain inventory, be it trade inventory or internal parts and accessories for consumption, Tally offers a very robust inventory module.
Tally inventory allows you to define unlimited groups, categories, batches, warehouses and locations. What’s most convenient is that this comes without tiered licensing like other software. All the features are available with unlimited SKUs.
For businesses that are in the manufacturing or assembly space, Tally also offers a manufacturing journal and bill of materials that allows the accounting department to convert existing inventory into final products. This allows manufacturers to have precise cost controls.
4. Manage unlimited companies and groups
Growing enterprises have different needs. Often, companies need to be spun-off and divisional cost and revenue centres need to be set up. While this is straightforward from an accounting perspective, it can become a challenge if the financial software cannot support it.
Tally ERP, thankfully, allows a single instance (or installation as it is also called), to be used to perform all tasks, activities and keep records under multiple companies and company groups as well.
This allows entrepreneurs, growing businesses and enterprises to manage all their financial data from one single application – without any need for additional software, hardware or licenses, while still providing reports at the group or investor level.
5. Synchronisation of data from two or more places
What’s worse than losing money? Losing your financial data that tells you how much money you have!
Data loss is one of those nightmares that every IT tech has to live with. Nowhere can this be more important than core financial data of a business, where the money is. Backing up financial data and records is not just essential but also mandatory by law.
Things can also get complicated easily when a business operates in more than one location, e.g. A storefront and a warehouse. Both places have a need to access up-to-date financial information and create new data on-demand.
Thankfully, Tally ERP has built-in systems that can help businesses replicate their data across two or more places. What does that mean? Effectively, it means that your data is safe and secure in another location and a business can continue functioning as if it was operating from one single machine.
Most modern financial softwares do this, however, we find that Tally’s implementation is easier, faster and more reliable.
Conclusion
What do you think of our top 5 reasons why Tally is so popular? Do you agree with our list? Do you have another reason that we have missed? Send us your thoughts on [email protected].
At SAC, we use Tally ERP to manage our customer’s financial data safely and securely. We provide complete turnkey bookkeeping and accounting solutions to small and medium sized businesses in Tanzania. Interested in our services? Get in touch with us today for a free one-on-one consultation to discuss your business requirements.