As part of the ‘All For Her’ initiative, Tally Solutions unveiled an exclusive offering: a complimentary three-month subscription to its advanced business management software, TallyPrime, for women entrepreneurs in the UAE. With this initiative, Tally aims to support women entrepreneurs in the region by equipping them with the tools and resources necessary to streamline operations, boost efficiency, and scale their ventures.

Vikas Panchal, General Manager, MENA, Tally Solutions, said: “At Tally, we’re dedicated to supporting women entrepreneurs globally and in the UAE. Through initiatives like ‘All For Her’, we aim to create a supportive ecosystem where their voices are amplified, their stories are celebrated, and their journeys are inspired. Our commitment to women’s empowerment is aligned with the UAE government’s vision to foster a thriving entrepreneurial landscape, where women are key drivers of economic progress and success.”

The event featured an inspiring keynote session by Anishkaa Gehani, Founder & CEO of Yardstick Marketing Management under the theme ‘SheLeads Finance: Essentials for Business Growth’. The keynote address highlighted the importance of financial literacy for women entrepreneurs and offered actionable insights into effective business growth strategies.

The event also hosted an engaging panel discussion titled ‘Empowered Voices: Inspiring Women, Transforming Futures’, which brought together prominent women leaders across industries to share their unique perspectives and experiences. Reema Mahajan, Founder of Indian Women in Dubai, emphasized the importance of creating inclusive communities to foster empowerment and collaboration among women. Harjyot Oberoi, Head of Marketing at Khaleej Times, shared valuable lessons on building a successful career in media and marketing, highlighting the crucial role of creativity and innovation.

Aparna Bajpai, Founder of Being She, spoke about the significance of empowerment in transforming the journeys of women entrepreneurs and fostering a multinational ecosystem for their growth. Karishma Fernandez, a well-known TV Presenter, Radio Personality, and Podcaster, skilfully moderated the session and brought engaging and thought-provoking perspectives to the conversation.

Tally Solutions has supported women entrepreneurs globally, helping countless women-led businesses streamline operations and achieve their growth aspirations. Through its innovative solutions and initiatives, Tally Solutions has consistently enabled women to overcome challenges and thrive in their entrepreneurial journeys.

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The product ensures seamless multilingual operations by allowing users to view and manage vouchers, generate and print invoices, and produce reports in their preferred languages whether it’s Arabic or English, without compromising on accuracy or consistency. The latest release also has enhanced business management features for a more simplified experience and enhanced operational efficiency. TallyPrime 5.0 will be officially launched through a series of roadshows starting in Dubai and will follow in other cities in GCC like Jeddah, Riyadh, Muscat, Damman, Manama, and Doha.

Commenting on the launch, Vikas Panchal, General Manager – MENA, Tally Solutions, said, “TallyPrime 5.0’s multilingual capabilities and advanced business management features are set to revolutionize operations in the UAE. Our commitment is to continuously innovate and provide the right technologies for MSMEs, aligning with the UAE government’s goals of fostering leadership and strengthening the role of small and medium-sized enterprises in the development and diversification of the national economy. This release will not only improve business processes but also enhance decision-making and promote better collaboration with vendors and customers, ultimately enabling businesses to make informed decisions and operate more efficiently”

The new ‘Bill Sorting’ functionality allows users to strategically manage payments by sorting bills according to due dates, ensuring timely clearance of supplier payments and avoiding late fees. Users can also sort bills by date, amount, and final balance, enabling better prioritization and financial planning.

Furthermore, the ‘Page Optimization’ feature intelligently arranges up to 50 different items per page, ensuring all details are captured without compromising on clarity, and contributes to reducing the carbon footprint by minimizing paper usage. This capability not only improves readability and reduces paper wastage but also aligns with the UAE’s sustainability goals. Additionally, the ‘Stripe View’ feature alternately shades invoice rows, significantly improving readability and making document navigation more intuitive.

To ensure maximum businesses benefit from this launch, Tally has planned a strong go-to-market approach including a high-impact series of roadshows targeting close to 2000 businesses, a strong digital and social marketing approach, and influencer outreach. Tally’s strong partner network will also reach out to businesses across sectors and segments to ensure maximum entrepreneurs can benefit from the latest product updates.

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The event honored winners across five distinct categories: WonderWoman, Business Maestro, NewGen Icon, Tech Transformer, and E-preneur Icon. Each category highlighted the unique and transformative contributions of MSMEs to their communities and the business landscape. In UAE, the MSME Honours event was supported by Singhular+, ICAI Dubai Chapter, BNI UAE, IWD, Taxation Society, RAKBANK, iAccel GBI, Make My Trip. This year MSME Honours received over 19,000 nominations from various sectors across the globe including the Middle East, India, Kenya, Bangladesh, and Nepal.

Nupur Goenka, Executive Director, Tally Solutions said, “MSME Honours is our effort to celebrate and honour entrepreneurs and small businesses for their resilience, passion, and courage. We want to keep strengthening this platform to create a powerful community rather than just an award ceremony, allowing outstanding entrepreneurs to connect with each other outside of Tally as well. It has been and continues to be our privilege to recognise and stand with the MSME community who are the backbone of economies across the world.”

Vikas Panchal, General Manager – MENA, Tally Solutions, expressed his pride in this year’s honourees, “The MSME Honours spotlight the diversity and positive influence of MSMEs by highlighting their best practices at the grassroots level. This platform is an effort to honour their commitment, innovative thinking, and dedication to excellence which have truly made a significant impact among budding entrepreneurs.  MSME Honours is a platform to showcase success stories to inspire countless others to pursue their dreams with passion and determination. This is in line with the goals of the UAE government which is encouraging the culture of leadership and enhancing the role of the small and medium-sized enterprises sector in the development and diversification of the national economy.”

This year in the WonderWoman category the jury witnessed entries from some remarkable women entrepreneurs and the outstanding winners this year include Vaishaly Singh from Kiam Chocolatier LLC, Bhawna Chopra from Krishi Care Farms, Aysha Ajimin Areekara from Gold Fin International LLC, Leena Vashdev Kewlani from Artezaar LLC and Marlyn Castro from Pinas Express Cargo.

Furthermore, MSME Honours also recognized organizations under the category of Business Maestro who have accomplished noteworthy achievements as a visionary leader. This year’s winners include Chandru Lalwani, from Ibn Al Haj Chemicals LLC – NIP, Saifuddin Rajgarhwala from Fakhree Al Hindi Co LLC, Omar Amer Al Bakhit Fadhil of Al Mukhtar Trading & Contracting Co. LLC, Ghulam Mustafa from DK Dar Al Khulood United L.L.C and Abdul khadar from Development Salalah International.

Another set of winners were recognized under the Tech Transformers category for their notable progress in the digital sphere. The list of this year’s winners includes Praveen Narayanan of Castle IT Solutions LLC, Mahammad Ashraf Kadaba from Al Najd Projects Petrochemical Services, Arun Mohan from Infinite Middle East Projects LLC, Altaimi Mamdoh Hamad from Afaq Alhasob, and Jatinder Singh from Invention Global Exhibits who used technological innovation in addressing critical challenges in their business.

In addition, MSME Honours also paid tribute to E-preneur Icon and the winners of this category include Rita Jivani from Purple Swan FZC LLC, Shalini Santosh of Early Food, Roshan Harief from Glamazle.com, Muhsina kaypee from Muhsina kaypee enterprise and Dhamodharan Ramamoorthy from Dsinfotech Digital Media.

The final category which was recently added to this year’s MSME Honours include NewGen Icon. The category celebrates budding entrepreneurs who have introduced innovative solutions. Winners under this category include Zakariyya Saleem Al Rawahi from Homeland café, Salman Mohammed from Platable Portal Co LLc, Navaneeth Mattummal of Trukko Freight Broker LLC, Aliasgar Murtaza from CleverFlow and Rishab Chandra from TaskTracker Suite Information Technology LLC.

The MSME Honours continue to celebrate and promote the invaluable contributions of MSMEs, encouraging innovation, resilience, and excellence across various sectors and regions.  The honours serve as a testament to the spirit of entrepreneurship, innovation, and excellence.

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Over the last three editions, ‘MSME Honours’ received around 8000 nominations globally. In the fourth edition, 1000 businesses are expected to nominate themselves in the MENA region across five categories. The winners will be felicitated on International MSME Day, which will be celebrated on June 27th, 2024. In addition to the MENA region, the initiative will invite participation from other regions like India, Bangladesh, Nepal, and Kenya. Businesses or people who know such businesses can nominate via https://tallysolutions.com/mena/msme-honours/ by May 31st.

These honours will spotlight and celebrate the diversity and positive influence of MSMEs by highlighting their best practices at the grassroots level. This year MSME Honours in MENA region will be celebrated across 5 categories including Business Maestro, Wonder Women, e-Preneur Icon, NewGen Icon and Tech Transformer.

Speaking on this initiative, Vikas Panchal, General Manager – Middle East, Tally Solutions, said, “We are excited to announce the launch of the fourth edition of ‘MSME Honours,’ dedicated to showcasing exceptional MSME stories irrespective of their size, geography and industry. This initiative is our way of honouring the dedication and contributions of these businesses. Through ‘MSME Honours,’ we would like to encourage more MSMEs to come forward with their innovative ideas and inspire others including women entrepreneurs in the MENA region.”

Speaking on this initiative, Jayati Singh, Chief Marketing Officer, Tally Solutions, said, “We are thrilled to announce the launch of the fourth edition of ‘MSME Honours’ and aim to bring forth remarkable MSME stories, irrespective of size, geography, or business type. Over the years, we have taken several efforts to augment the MSME economy. This initiative is our humble endeavour to celebrate the relentless efforts and contributions of these businesses, spotlighting their stories of innovation and growth at a hyper-local level and share their stories as an inspiration for others. We have felicitated close to 400 winners across all editions in India, UAE, KSA, Bangladesh, Nepal, Indonesia and West Africa, and we are optimistic of a greater participation this year as well.”

The nomination entries will be judged by an esteemed panel comprising of experts from the field of technology, MSME domain and media. This award aims for inclusivity, ensuring that impactful individuals from various cities, sectors, and those often overlooked but driving the economy are recognized and celebrated.

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“The Dubai Shopping Festival has long been recognized as a platform that promotes economic development and inclusivity. In alignment with the festival’s vision, Tally is also dedicated to strengthening the SME sector. We are committed to empowering SMEs participating at DSF and any other such initiatives, with our accurate tools and resources that will enable the SME community to thrive and navigate the evolving business landscape,” said Vikas Panchal, General Manager – Middle East, Tally Solutions.

TallyPrime 4.0 distinguishes itself with a suite of key features tailored for SMEs. The latest features of will help SMEs to leverage the additional business demand and transaction flow during DSF more efficiently. The intuitive and customizable dashboards provide strategic business insights, empowering quick, informed decisions. Through TallyPrime with WhatsApp businesses can seamlessly inform their customers about the various offers being run. Excel Import will reduce manual work and errors, giving them more time to focus on leveraging the business opportunities. Together, these features will contribute to an efficient, user-friendly and a more professional platform designed to meet the evolving needs of SMEs.

“Tally recognizes the unique challenges faced by SMEs in navigating complex tax structures and regulatory changes. We are confident that TallyPrime 4.0 will help businesses participating at DSF with the right tools to make their participation at this festival a success,” added Panchal.

Tally is dedicated to providing SMEs with cutting-edge technology solutions tailored to their unique needs, streamlining operations such as accounting and inventory management. The smart and intuitive reports and dashboards available in TallyPrime enable SMEs participating in Dubai Shopping Festival to leverage technology strategically. These reports and dashboards provide real-time insights, which assist SMEs to take informed decisions on inventory, pricing and overall strategy during the festival. With the right data and tools through TallyPrime, SMEs can also run multiple offers for their customers during DSF.

As Tally continues to be at the forefront of technological innovation, the company remains confident to extend complete cooperation to government initiatives that serve as a catalyst for positive change within the SME sector, propelling businesses toward unprecedented success.

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This launch is in line with Tally’s vision to provide an unparalleled and elevated experience to business owners and end users. The company aims to achieve a 50% growth in its customer base and a CAGR of 40% in the next 2-3 years.

Commenting on the launch, Vikas Panchal, General Manager – MENA, Tally Solutions, said, “With the launch of TallyPrime a few years ago, we have been consistently working towards bringing powerful business management experiences focused on simplifying and professionalizing the way SMEs operate their businesses. With TallyPrime 4.0, our focus remains on elevating the user experience and helping business owners do their business more professionally and efficiently. The release offers a suite of new, robust functionalities designed to streamline business management and facilitate seamless interaction with data. The introduction of intuitive and powerful dashboards, which further elevate Tally’s robust reporting engine, professional WhatsApp communication, and easy assimilation of data from Excel sheets, will enable users to run and grow their businesses.”

Tally has been studying the needs of the MSME ecosystem and providing relevant solutions for over three decades. With TallyPrime 4.0, businesses can further harness the existing powerful reporting engine along with the new ‘Intuitive Dashboards,’ bringing forth the advantage of unlimited visual data analysis that can be customized to meet the unique requirements of any business. The integration of ‘WhatsApp for Business’ offers the potential for seamless and efficient sharing of reports, invoices, receipts and other communication with stakeholders making business communication instant, accurate and more professional. Similarly, TallyPrime’s effortless data import feature virtually imports any excel document with the simplicity of Tally.

“Our focus is to continue to innovate and create the right technologies for MSMEs in India and globally. Their unique operating environments and high expectations of the product continue to drive us in GCC.” added Vikas Panchal.

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What is the importance of digital business tools for startups?
Most businesses, particularly startups are of the opinion that if they have a great product and a good business model, they can scale their business easily. However, there are several other factors that contribute to the seamless growth of the company. One such key element is automating the daily business operations so the focus can be on the growth of the business rather than managing day to day activities and a business management software is the right way to do so. Choosing the right business management software cannot only help the startup manage operations effectively, but also make a truly significant difference in an organization’s profits, agility, resilience, and competitive strength.

How does these digital business tools benefit startups?
A major number of small business owners encounter financial difficulties and having a business management software can help them plan and analyse finances better. These digital solutions are apt to deal with the regular invoicing, manage cashflow and inventory, remain compliant, prepare timely business reports for better and insightful decision making as well as save time to focus on growing their core business. Business management software offer enhanced efficiency and can streamline day to day operations, boost performance and can add real value to companies. In addition, these solutions provide deep insights, fast and seamless information flow, and most importantly can help startups save time and maximise return on investments.

What are the important things to consider while investing in digital business tools?
Every company has specific needs, as such it is key to evaluate the business needs before investing in a digital solution. Look for a business management software that is not only easy to install and use but can be accessed from anywhere in the world, without having to compromise on the security. Ensure that the digital solution is well equipped to manage accounting, inventory, invoicing, taxation and more. It is imperative that business owners understand which software is made for them, a software that adopts to their requirements and not the other way round. Lastly, but most importantly, go for a product that can suffice to all business operation needs without you needing to purchase different software for different functionalities, has no hidden cost and offer seamless support.

How would you describe Tally’s business tool for startups and how it can help them scale up their business?
TallyPrime is an integrated business management software that enhances business efficiency and helps startups manage business operations seamlessly. Some of the benefits of using TallyPrime include:

• Immense Flexibility: TallyPrime caters to different purchase and sales processes, enabling start-ups to manage accounts seamlessly, give a clear view of the cashflow, multiple billing formats, multi-currency support, and much more
• Seamless Inventory Management: With a phenomenal inventory management module, TallyPrime helps companies remain on top of their stock requirements and helps define unlimited groups, categories, batches, multiple stock valuations, etc.
• Insightful Reports: Business owners can keep a tab of their business by viewing hundreds of useful reports providing a 360-degree view of the business health and assists in taking informed decisions
• Easy compliance: Enables businesses remain compliant by seamlessly generating VAT compliant invoices to file returns
• Anytime anywhere access: With TallyPrime business owners can access their data and reports from anytime anywhere with complete security and privacy of their business and financial data

What advice would you give to startups that are looking to grow?
As a startup it is important to be mindful about the tools you invest in to scale your operations. Investing early in digitization that supports your business growth will be advisable. A business management software is a great choice to help you support, enhance, and automate various processes. It further helps streamline operations, remove human errors, enhance productivity, and achieve tasks, thereby improving business efficiency. Having said that, choose a powerful tool that can help you stay on top of your game and scale your business efficiently and effectively.

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While TallyPrime will enable businesses to set-up the software quickly and record and print VAT bills in Arabic and English with ease, it will also allow them to start their VAT compliance journey from day one. The software’s unique in-built error detection and correction capability ensures accurate data, so businesses always remain compliant.

“We are pleased to introduce the latest release of VAT compatible TallyPrime for Oman, as the Sultanate gears to welcome VAT in a couple of weeks. TallyPrime is equipped with all essentials for VAT and will serve as an accelerator to help businesses in the country transition to VAT smoothly. The product has been meticulously designed keeping the user experience at core, which will ensure legendry speed, simplicity and flexibility for business owners to comfortably manage and grow their business without needing to know the finer nuances of accounting or technology,” said Vikas Panchal, Business Head- Middle East, Tally Solutions.

The solution will also simplify life of tax consultants and chartered accountants as the software allows generation of VAT returns and audit reports at the click of a button, enabling them to file VAT returns for their clients easily and quickly.

“Tally has always been committed to offering best solutions that help entrepreneurs focus on their business operations, whilst being able to comply easily with changing protocols. TallyPrime is accredited by GAZT (General Authority of Zakat & Tax) in Saudi Arabia and is also compliant with the VAT guidelines as prescribed by the FTA (Federal Tax Authority) of UAE. We are confident that our years of experience in providing solutions for accounting and tax compliance will make the journey seamless, as it has in the UAE, Bahrain and KSA,” added Panchal.

In addition to simplifying the compliance journey, TallyPrime has several features and experiences that will benefit the entrepreneurs in enhancing their productivity. The simplified and fast data entry along with flexibility for several business use cases will provide enough time to business owners to concentrate on the growth of the business. The several insightful business reports around accounting and inventory will assist them to take critical business decisions with ease.

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One of the fundamentals of an efficient business operation is maintaining accurate accounting records that adhere to the company’s guidelines & procedures and the country’s rules and policies. Proper recording and management of these records provides the business owner with the right information concerning the current financial health of the business, allowing decision-makers to strategize and take confident decisions to set the growth objectives.

Technology is playing a pivotal role in assisting entrepreneurs transform the way they operate their daily business operations from account management to inventory management and compliance. Today, the way accounting records are gathered, kept, and maintained has been simplified enabling easier and faster access to data. Digital transformation has taken automated accounting processes to the next level, subsequently enhancing business operations and increasing productivity.

Moreover, the digital accounting reports made available through efficient business management software, containing financial and accounting details, can be easily retrieved and analysed, making it quicker for different departments to connect and collaborate. These details included in the reports are an accurate and reliable representation of an organisation’s financial performance in real-time.
In fact, reports generated through business management software ensure data integrity and security. In addition, a high level of transparency, consistency and accuracy can also be maintained through automation.

How can security be maintained?
There can be instances of unauthorised access to data which can impact the business negatively. Automated solutions help prevent such costly incidents that could lead to a leak of confidential information and other harmful consequences such as damage to the business organisation’s reputation. Only a select few employees can be given access to sensitive company information to prevent any possibility of hacking or stealing. At the onset, the company can identify which roles are allowed to open and modify restricted files and why.

With central security features in place, especially in terms of limiting data access to authorised personnel only, the automated accounting software contributes to the overall privacy and security of the business. Moreover, the reports produced by automated accounting solutions minimise human errors, thus helping ensure that the facts and figures presented are correct and precise with no last-minute changes or accidental data modifications.

Digital reports are without a doubt considered more accurate than the reports produced via manual accounting processes. Not only that, it contributes to the protection of data from errors and leakages. The management becomes more confident when taking critical business decisions based on data whose integrity and accuracy are firmly established. With these benefits and more, especially in terms of data security, shifting to modern solutions in this day and age have become more imperative than ever before.

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