Tally the dependable friend
Tally is the most dependable accounting software for small and medium businesses today in india and many more countries globally. apart from providing functionalities such as managing bills and expenses, invoicing etc. tally is also tax compliant. with almost 80% of businesses across india using it the availability of trained resources is also not a challenge.
Friendship needs to evolve
While it works brilliantly to manage your book of accounts, there are extensions to tally which are needed from time to time to be developed as a small business starts to grow and requires more operational transactions to be automated for enhancing their business efficiency and meeting changing customer needs timely.
Need for finding more friends
Unfortunately, not many business owners are able to get the right development partner to support their operational needs despite spending substantial money in customization. this leaves business owners no other choice but to start putting in much of their time in manually managing different aspects of the business or take important decisions with half-baked or incomplete data. this results in impacting their customer satisfaction, costs and ability to grow the business.
Identifying new friends
Smartly managed businesses (smbs) keep looking at these issues constantly and look for an unified or integrated business system – a business operations platform system that can be easily integrated with their tally to track processes like order management, inventory management or procurement management for their growing business.
Once you have identified and made the decision to integrate tally with a business operations management platform, what is the next step? you will look for a technology integrator. but before you start your discussions with such a partner, take a moment to understand what you want out of the integration. here is a checklist to help you out –
- Single and Complete View of Business Operations– post the integration, you should be able to have a single view of not only your financial numbers but also the entire business operation processes. it should have complete visibility of your business data in a single dashboard; essentially you should have a centralized reporting experience.
- Single Point Data Entry & Retrieval– the integration should solve the need for dual entry of data separately for tally and the business operations platform. the integrated system should enable single punching of data which will save man-hours for the company as well as will be a better and efficient process. the single entry of data for business operations and tally should seamlessly integrate in the new system.
- Real-Time Visibility in Different Stages of Business Operations – the integration will provide real-time visibility across f&a numbers, order management system, inventory management system, procurement management system and production planning. this would also include visibility of quality control in production and quality control in manufacturing.one point to note here is that some platforms does not allow visibility in the different stages of business operations such as like in a multi-level production process. to take an example, the functionality to look out for would be to get real time visibility on the status of availability of raw materials, production work-in-progress in the factory or finished goods in the , warehouse, stores or client and vendor locations. so a best in class integrated system should provide these different stage visibility as well. this will offer better projections and enable optimum business decision-making leading to better roi and revenue growth.
- Real-Time Alerts– the integrated platform should also provide business intelligence. for example, if you are punching order for a repeat customer the system should be able to provide you with alerts of last price quoted as well as real-time availability of inventory. needless to say such multiple and proactive alerts results in quick and profitable business decision-making.
- Transaction Authorization– access to your unified business platform which will have sensitive data should have adequate security features. only authorised personnel in your business should have permission to access the system. a complete user authorization enabling user access to the transactions should be a key feature of the integrated platform. you should also be able to track and view details about who has created, edited or approved any transaction with the time stamp.
- Easy Reporting– any growing business will churn out large volume of data which needs to be further studied and mined. the integrated platform should be efficient enough to provide downloadable reports in excel format and with different functionalities.
- Seamless Integration– last but not the least, remember that the integration need not be a complex and a long drawn affair. experts can and should make the integration process a smooth and easy change management process.
With this checklist of integrating and the resultant benefits, go ahead and integrate your accounting software with a robust business operations platform!
Managing Multiple Friends & Keep On Growing
In conclusion, you should look for a technology integrator who has industry and domain expertise to provide you with a platform that enables you to get the right visibility at the right time. your business operations and accounting processes should work together seamlessly to provide you with the data sets that enables quick business decision-making and ultimately profitability and growth.
To understand how to integrate tally with a business operations platform, talk to one of our worxpertise.
Click here to recieve a call back start integrating now