Most of the business owners today use Enterprise Resource Planning (ERP) solutions that help them plan and manage their business. However, some businesses, especially small businesses, have still not realized its importance.
ERP solutions like Tally play a significant role in helping businesses manage their customers, vendors, product inventory, banking, sales & purchase orders, and accounts.
To survive in the highly competitive market, businesses must adapt to new technologies that help them manage the above-mentioned processes, so they can give their total focus on growth.
Here are some of the top advantages small businesses stand to gain by using the Tally software:
Small businesses require ERP software to manage three crucial functions:
Tally is a one-stop solution for business functions and its friendly interface helps manage these complex activities easily, with no margin for error.
Facilitates Decision Making
As Tally helps manage the above-mentioned business functions with a single software, business owners can easily and conveniently access the impact of these functions on business finance to take sound and informed decisions.
Moreover, Tally provides detailed analysis, estimates and the complete financial overview at the click of a button, which can help make decisions that bolster business growth.
Improves Inventory Management
Businesses need to keep continuous track of their stock to ensure that they are not investing heavily to maintain inventory which is costing them high in the form of interest costs.
Tally provides stock ageing reports that aids in improving the inventory management process. Based on these reports, they can take measures to reduce the time spent by the stock in the warehouse and make decisions like requesting new purchase orders from vendors.
Tally acts as an audit tool with regular audits of the business. It performs a through compliance check at the beginning of the financial year to ensure that all financial transactions are being carried out smoothly.
Apart from this, Tally also helps with GST compliance. Whether it you need to create new invoices for clients, share tax data with the consultants or file GST returns Tally helps you do it all.
Small business owners have to be up to date on the financial status of the organization and must be able to access the key data from Tally on mobile devices.
ZikZuk addresses this need with its Business Financial Manager (BFM), a business intelligence platform that integrates with Tally to help small business gain a 360-degree overview of their business finances at their fingertips.
Moreover, BFM also helps automate the payment reminders to debtors and improve their cash flow management process with actional insights based on cash flow projections.
Get BFM today!