TALLY Abbreviation

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Popular abbreviations of Tally:

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What does TALLY mean?

Tally, formally known as Tally Solutions Pvt. Ltd. is an Indian company headquartered in Bangalore, Karnataka in India. Tally Solutions Pvt. Ltd. is primarily involved in the business of providing technological solutions to businesses across the world exclusively in the tech domain of ERP (enterprise resource planning). 

ERP – Enterprise Resource Planning

Enterprise Resource Planning is a technology that allows for an Integrated management system. This integrated management system keeps track of the various business processes and records and manages relevant data.

Enterprise Resource Planning allows a business to track various kinds of information related to the business processes in real-time. The different kinds of data which can be tracked in real-time include business resources such as cash and raw materials. The use of Database Management Software in Enterprise Resource Planning allows for an efficient flow of information to different relevant stakeholders and parts of the business machinery.

The main advantage of Enterprise Resource Planning (ERP) software in a business is that it integrates the various components of the business operations and further results in more optimized and efficient transactions and production.

Other than its basic characteristics of being a single integrated system, with database support working in real-time, its other characteristics include that ERP (Enterprise Resource Planning) can be deployed in different forms including, Cloud-Based hosting, local on-premises hosting or in the form of Software as a Service (SaaS).

Enterprise Resource Planning (ERP) systems can be applied in different sectors. Enterprise Resource Planning can be used in the domain of Financial Accounting, Management Accounting, Human Resources, Supply Chain Management, Manufacturing and Order Processing, Project Management and other numerous domains.

Tally: Organization

Tally Solutions was co-founded by Shyam Sunder Goenka and Bharat Goenka. The company was launched in 1986, originally known as Peutronics. 

The first product of the company was an accounting software, known as Peutronics Financial Accountant. It was launched as a Microsoft MS-DOS application.

The company changed its name from Peutronics to Tally Solutions in 1991.

The various products launched by Tally Solutions include TallyPrime Tally.ERP 9, Tally.Server 9, Tally.Developer 9 and Shoper 9. Tally Prime is the latest product launched in 2020.

In 2016 the company reported its customer numbers reaching one million customers. The same year in light of the changed tax regime in India, the company was selected as a GST Suvidha Provider and hence was tasked with providing a user interface to connect the Indian taxpayers with the server of the Goods and Services Tax.