Tally Solutions: A Journey of Innovation and Growth

Summary

In this insightful conversation, Tejas Goenka, Managing Director of Tally Solutions, discusses the company's journey since its inception in 1986 and its ongoing innovation in business management software. Tally Solutions, a leader in India's tech landscape, focuses on creating user-friendly products for small and medium businesses. Goenka highlights their strategy of providing permanent licenses with free updates, their recent Tally Prime 4.0 release, and the importance of privacy and security in AI integration. He also shares insights on the company's future roadmap, emphasizing the connection of businesses to their ecosystems through intelligent technology.

Takeaways

• 🌐 Tally Solutions, a leading business management software company in India, has been adapting to technological changes since its inception in 1986 to stay competitive.
• 📈 The company's growth and innovation are driven by a customer-centric approach, focusing on creating products that are useful and delightful for Indian businesses, particularly small and medium-sized enterprises (SMEs).
• 🔥 Tally has maintained its market leadership by offering unique core technologies that provide a headache-free and stress-free experience for customers, setting itself apart from competitors.
• 🛡️ Tally has a strong stance on privacy and security, ensuring that customer data is treated with the utmost respect and is not accessible by the company or any third party.
• 📊 Tally has integrated AI into its products, aiming to provide predictive technologies at a low cost that were previously only accessible to large organizations.
• 📱 Tally Prime 4.0 introduces new features such as customizable data visualization dashboards, WhatsApp for business integration, and simplified data import from Excel, enhancing user experience.
• 💡 The company's philosophy emphasizes the importance of building trust with customers, which is reflected in its approach to software piracy and the establishment of a vast partner ecosystem for sales and service.
• 🌟 Tally's R&D efforts account for 40-50% of total expenses, highlighting the company's commitment to developing innovative technologies tailored to the needs of Indian businesses.
• 🚀 Tally Edge, the company's account aggregator platform, aims to empower business owners by providing easy access to their personal and business financial data, facilitating借贷 processes.
• 🌍 Tally is looking to expand its presence internationally, particularly in the Middle East, Africa, and Southeast Asia, with a vision to be an Indian company that serves the world.
• 💼 Advice for new entrepreneurs in the software industry is to focus on creating the best product rather than being the first to market, emphasizing patience, courage, and a long-term vision.

Q & A

How did Tally Solutions start its journey in the business management software domain?

Tally Solutions was founded in 1986 by Tejpal's father and grandfather, who transitioned from a textile manufacturing business after their factory burned down, leaving only a computer. This event led them to focus on creating useful products for Indian businesses, with a core philosophy of simplicity and utility in technology.

What is the core philosophy that has driven Tally Solutions' approach to product development?

The core philosophy of Tally Solutions is to create products that are useful for businesses, particularly small and medium enterprises. They aim to make business operations more delightful and stress-free, with a focus on innovation and providing value to customers without requiring them to have technical expertise.

How has Tally Solutions managed to stay competitive in the ever-evolving technological landscape?

Tally Solutions has stayed competitive by continuously innovating and focusing on core experiences that customers value. They have developed their own core technology, which allows them to deliver a headache-free and stress-free experience to their customers.

What was Tally Solutions' strategy to maintain market leadership among MSMEs despite competition?

Tally Solutions focused on creating a strong ecosystem of partners across India to sell and service their products, ensuring customers had access and support. They also emphasized the importance of not treating customers as thieves in the context of software piracy, which helped build trust and a large customer base.

How did Tally Solutions adapt during the pandemic and what was their approach towards their partners and customers?

During the pandemic, Tally Solutions quickly adapted by providing solutions that allowed businesses to manage remotely. They focused on community survival rather than exploiting the situation, supporting their partners and customers through the transition to remote operations.

What are the key features of Tally Prime 4.0 that differentiate it from previous versions?

Tally Prime 4.0 introduces the ability to visualize data through customizable dashboards, integrates with WhatsApp for business to professionalize communication, and allows for easy import of data from Excel, making it simpler for businesses to manage their operations.

How does Tally Solutions' licensing model work, and is there an additional cost for new releases?

Tally Solutions sells a permanent license for their software. Once purchased, customers do not need to pay any additional fees. However, they charge a subscription for regular updates, and new releases are free for active subscribers. If a subscription has lapsed, the new release is available at the cost of a subscription renewal.

What is Tally Solutions' perspective on the convergence of AI and software, and how do they plan to leverage it?

Tally Solutions is excited about the potential of AI to provide low-cost, accessible solutions for their customers. They are focused on creating AI-driven experiences that respect customer privacy and security, without compromising on the quality of service.

What investments has Tally Solutions made in AI, and how are they approaching the development of AI technologies?

Tally Solutions has dedicated a small team to work on AI technologies, focusing on understanding core technologies and building innovations on top of them. They are committed to hiring and expanding this team, ensuring they have the resources to experiment and develop new solutions.

What is Tally Edge, and how does it differ from other account aggregator platforms?

Tally Edge is an account aggregator platform designed specifically for business owners to manage both personal and business accounts. It is data blind and focuses on providing business-oriented experiences, making it easier for businesses to access and manage financial data.

What is Tally Solutions' approach to data security and privacy, especially with the integration of AI?

Tally Solutions maintains a core philosophy of treating customers as friends and respecting their privacy. They are committed to ensuring that data is collected, processed, and used in a way that maintains privacy and security, even as they integrate AI into their products.

What are Tally Solutions' plans for international expansion, and which markets are they targeting?

Tally Solutions has plans to expand into international markets, focusing on regions like the Middle East, Africa, and Southeast Asia. They aim to provide their services to businesses in these regions, leveraging their expertise in business management software.

What advice does Tally Solutions have for new entrepreneurs entering the software services industry, especially with the rise of AI?

Tally Solutions advises new entrepreneurs to focus on creating value and not rushing to be the first to market. They emphasize the importance of patience, courage, and the willingness to create something of lasting value in the software industry.

Outlines

00:00

📈 Tally Solutions' Evolution and Growth Journey

The first paragraph introduces Tally Solutions, a leading business management software company in India, which has managed to stay relevant since its inception in 1986. The interview with Mr. Tasgoenka, the Managing Director, delves into the company's history, starting from a textile manufacturing business to embracing the technology wave. The focus is on Tally's commitment to creating user-friendly software for Indian businesses, with a philosophy that emphasizes simplicity and utility. The company's growth strategy is highlighted, which includes innovation in technology and maintaining a strong customer base.

05:03

🛠️ Tally's Game-Changing Strategies and Market Leadership

In this paragraph, the discussion centers on Tally's strategies that have allowed it to maintain a strong presence in the market, particularly among small and medium-sized enterprises (SMEs). The company's approach to competition and innovation is explored, with a focus on creating a seamless experience for customers. The importance of Tally's own core technology is emphasized, which has contributed to its market leadership. Additionally, the company's stance on piracy and its efforts to provide a supportive ecosystem for customers through partners are highlighted.

10:04

📊 Post-Pandemic Growth and Tally Prime's Success

The third paragraph discusses the impact of the pandemic on Tally Solutions and its subsequent growth. The company's quick adaptation to the changing business landscape is noted, along with the support provided to partners and customers during this challenging period. The introduction of Tally Prime 3.0 and 4.0 is highlighted, with a focus on their features aimed at simplifying business operations and improving user experience. The paragraph also touches on the company's growth expectations and the number of businesses using Tally's products.

15:07

💡 Insights into Tally Prime 4.0 and its Licensing Model

This paragraph provides a sneak peek into the features of Tally Prime 4.0, emphasizing its ability to visualize data through customizable dashboards, integration with WhatsApp for business communication, and simplified data import from Excel. The discussion also covers Tally's unique licensing model, which offers a permanent license to customers with the option of a subscription for regular updates. The benefits of being a subscriber are outlined, including free access to new releases.

20:09

🤖 Exploring AI's Potential in Business Management Software

The fifth paragraph delves into the potential of AI in the context of Tally Solutions. The company's perspective on AI's role in creating low-cost, accessible technology for businesses is discussed. The importance of privacy and security in AI innovation is emphasized, reflecting Tally's commitment to protecting customer data. The paragraph also touches on the company's R&D efforts and its focus on building a technology platform that connects businesses to their ecosystems.

25:11

🌐 Tally's Global Ambitions and Commitment to Data Privacy

In the final paragraph, Tally's aspirations to become a globally respected Indian technology company are outlined. The company's focus on international expansion, particularly in the Middle East, Africa, and Southeast Asia, is highlighted. The importance of data privacy and security is reiterated, with Tally's commitment to treating customers as friends and respecting their data privacy. The paragraph concludes with advice for new entrepreneurs in the software industry, emphasizing the importance of patience and the pursuit of excellence over being the first to market.

Keywords

💡Artificial Intelligence (AI)

Artificial Intelligence, or AI, refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. In the context of the video, AI represents a significant technological wave that Tally Solutions aims to leverage to enhance its business management software. The script mentions the creation of new experiences for customers using AI, emphasizing the potential for low-cost, privacy-focused applications.

💡Tally Solutions

Tally Solutions is a leading provider of business management software solutions in India. Founded in 1986, it has maintained relevance and competitiveness in the evolving tech landscape. The video discusses the company's journey, growth, and its strategic approach to staying ahead in the market, including its focus on innovation and customer-centric solutions.

💡MSMEs (Micro, Small, and Medium Enterprises)

MSMEs represent a crucial sector of the economy, often supported by Tally Solutions' software. In the script, the managing director discusses the company's significant role among MSMEs and its strategies to maintain market leadership in the face of competition, emphasizing ease of use and accessibility of their software for these businesses.

💡Innovation

Innovation in the video is depicted as a core value of Tally Solutions, driving the development of new technologies and products. The company's history is marked by a culture of innovation, from creating its own database to integrating AI in future products, which is aimed at providing headache-free, stress-free experiences for customers.

💡Piracy

The term 'piracy' in the script refers to the unauthorized use of software. Tally Solutions addressed this challenge by establishing a widespread partner ecosystem to ensure legitimate access to their products, reflecting the company's philosophy that Indians are not thieves but may not know where to buy the product legitimately.

💡Data Visualization

Data visualization is the graphical representation of information and data, which Tally Solutions aims to incorporate in its software to allow customers to create customized visual data dashboards. This feature, as mentioned in the script, is part of Tally Prime 4.0, enhancing the user experience by making data interpretation more intuitive.

💡WhatsApp for Business

The script discusses the integration of WhatsApp for Business with Tally Solutions' software, aiming to professionalize communication for small businesses. This integration is a strategic move to streamline business operations and enhance customer service by leveraging a widely used communication platform.

💡Account Aggregator

An account aggregator, as described in the script, is a service that allows individuals or businesses to access and share their financial data from multiple sources in one place. Tally Edge, the company's account aggregator platform, is designed to empower business owners with control over their financial data, aligning with the government's philosophy of data empowerment.

💡Data Privacy

Data privacy is a fundamental philosophy for Tally Solutions, as highlighted in the script. The company is committed to ensuring that customer data remains confidential and secure, avoiding any 'creepy' practices where data is misused or accessed inappropriately. This commitment extends to their approach to AI, emphasizing privacy and security in innovation.

💡R&D (Research and Development)

R&D represents the efforts Tally Solutions invests in creating new technologies and improving existing ones. The script mentions that R&D constitutes a significant portion of the company's expenses, indicating their dedication to innovation and the development of cutting-edge solutions for their customers.

💡International Expansion

The script touches on Tally Solutions' aspirations for international growth, with a focus on markets in the Middle East, Africa, and Southeast Asia. This expansion strategy reflects the company's ambition to become an 'India for the world' type of company, offering its solutions to a global customer base.

Highlights

Tally Solutions, a leading business management software company in India, is embracing the AI wave to stay competitive in the evolving tech landscape.

Founded in 1986, Tally has maintained relevance by continuously innovating and adapting to new technologies.

The company's philosophy is to create products that allow business owners to run their businesses more easily, using technology effectively.

Tally's growth journey has been marked by a customer-centric approach and a focus on innovation in core experiences.

Tally has a unique business model, selling a permanent license to its software, with updates provided through a subscription model.

The company has a strong ecosystem of partners across India, ensuring accessibility and support for its software.

Tally Solutions has seen significant growth post-pandemic, with a focus on releases that simplify and enhance user experience.

Tally Prime 4.0 introduces features like customizable data visualization, WhatsApp integration for business, and simplified data import from Excel.

The company's commitment to privacy is unwavering, with a philosophy of treating customers as friends and respecting their data.

Tally is investing in R&D, focusing on building an Indian technology company that is globally respected.

AI is seen as a tool to provide predictive technologies at a low cost and with high accessibility for small and medium businesses.

Tally Edge, an account aggregator platform, aims to empower business owners with control over their financial data.

Data security and privacy are core to Tally's operations, with a philosophy against 'creeping' on customer data.

Tally's roadmap includes connecting businesses to their ecosystems through intelligent technology platforms.

International expansion is on the horizon for Tally, with a focus on markets like the Middle East, Africa, and Southeast Asia.

Advice for new entrepreneurs is to focus on being the best in the software space rather than rushing to be first to market.

Transcripts

the artificial intelligence wave is

getting bigger by the day and every

software company wants to tap into this

big opportunity in fact one of India's

leading Business Management Solutions

major tally wants to write this wave too

tally Solutions is not an unfamiliar

name to many a legacy firm started off

in 1986 Still Remains relevant and comp

competitive in the ever evolving

technological landscape but the firm has

been busy working on a lot of new things

and products we have with us Mr Tas

goenka managing director of tally

Solutions which is one of India's

leading business management software

Solutions hi thees thanks a lot for

speaking to us thank you so much thank

you for having me yes thees let's dive

right into the questions Tally's journey

is very interesting right you started

off in 1986 and and you've managed to

keep up you know with the latest

technology that's coming in why don't

you talk to us a little bit about your

journey so far now that you're sitting

here a bird's eye view of whatever

happened and also your growth Journey a

little bit sure sure so tally was born

before I was uh my granddad and dad

started it and before tally actually

they used to run a uh textile

manufacturing sort of a textile

manufacturing uh company out of

Bangalore and the the story of how we

started off was it's almost legendary in

that sense uh my granddad d g had asked

my dad to make something useful and my

dad was getting into computers liking it

um and one day the factory unfortunately

burned down and the only thing that was

left was this computer and my family is

very spiritual in a sense so you know

you kind of see these as signs of the

Universe um and I think since then the

basic foundations have really been to

create products create and ultimately

using great technology for Indian

businesses uh small and medium

businesses uh really speaking business

owners to be able to run their

businesses um much more delightfully I

think through that Journey uh we've had

nice quots that have come out uh for

example my granddad used to tell my dad

that uh you know who are you making the

software for when I'm buying a car I'm

not a mechanic I'm buying it to drive my

car similarly when I'm buying a software

I'm buying it to run my business not to

run your software um and I think that

drove a lot of core culture and um

ability to innovate on technology I

think over the last 37 years now that's

really what we've done um times have

changed the landscape keeps changing but

in this industry it's you have to be

able to innovate on um core experiences

that customers will really value so

we've done that we've also had the love

very honestly as and support of so many

people um that's played a big role

definitely definitely yeah so the other

interesting thing about tally is that

you're a very big player among msmas

right um of course you have Enterprise

customers as well but MSM play a very

big part what was that game-changing

strategy for you to go about because

you've got so many competitors also

coming in after you know you were

launched so what is the gamechanging

strategy that's helping you maintain

your Mar Market leadership that's a

great question um honestly on the

competition side we've had competition

since the start we were not the first um

in anything that we' have done we've

just approached it with a particular

mindset and the mindset that we've had

is what can we do to help businesses run

their business better I'm not saying

that everything that we've done has

worked out really well uh but that's

really the fundamental and what we're

willing to do for those experiences to

give an example uh in the early days we

had created our own database done our

own memory manager done our own math

routines till date that culture exists

where we have our own core technology

that makes a really big difference to

how you can deliver a headache-free

stress-free experience for customers um

there used to be an ad I'm forgetting a

mo motorcycle ad fill it shut it forget

it okay tally is almost like that uh

once you start using it you don't need

any servicing there's no complic ation

um that's how we approach it I think

that's been a big pillar the second one

has been since the early days the big

challenge that we've had is around

people using the software but not having

paid for it okay um and I think we took

a very nice approach that uh my dad had

really pushed for which is that you're

an Indian I'm an Indian and um piracy

does not imply that you're a thief right

why should I'm not a thief so why should

I believe that you're a thief and and he

really pushed for this view that Indians

don't know where to go and buy the

product so we've got a very large

ecosystem of Partners you can name a

city name a town we've got someone there

who will sell and service on the product

I think that's made a large difference

to the Comfort that customers have on on

um having someone there you know so

that's been I would probably say got

like you said what your granddad told I

think that set the tone to throughout

even now I think 100% yeah yeah got it

um so can we talk a little numbers here

you know uh pandemic during pandemic

post pandemic there are a lot of changes

especially for software companies right

and again you deal with smaller

companies msmas so uh how has it been I

mean uh has 2023 given you the uh the

highest levels of growth that you saw

pre pandemic or what has changed

permanently for

you lots of things um I think the way

the business has run in general is uh

going back to the same two pillars uh

building great things that customers

want and like and the second is getting

them access to that product has been the

two driving factors of our growth uh

pandemic was a very very difficult

period I would say um the

organization touchwood adopted very

quickly and adapted very quickly I think

our partners I was worried about the

most people who and service on the

product a lot of their work is physical

they go to customers meet with customers

and I think for them transitioning had

to be done quickly so they had to adapt

but I was most worried about them and

then

customers um had a huge problem in

managing their business remotely so we

had put together several solutions that

allowed us to ride through with them um

but the attitude very honestly bavya was

that how do you as a community survive

together rather than trying to um milk

the opportunity uh I think that's that's

an attitude it's nothing right or wrong

in anything else uh I think post

pandemic this has been our second full

full year of business and we've seen uh

a great response from customers we've

got two releases out recently a few

months ago we took out tally Prime

release 3.0 uh two days three days ago

we launched tally Prime release 4.0

uh and all of these are oriented towards

making life simpler more delightful

easier to run and it's with that

flexibility that you expect from us so

overall things have been very very good

by the end of this year we should cross

two and a half million businesses using

the product many of them have many

people inside so we don't count users uh

but that's a very large number and very

proud of that got it got it but can you

tell us some more numbers in terms of

you know your revenues how was 2020 3 B

sure sure so this year I think we'll end

up growing maybe around 30 odd per 25

30% by the end of the year um and it's

good I mean it's not a bad place to be

at uh I would say the more important

Focus for us continuously though is just

two things uh can we bring out products

that customers like and can we get it to

enough of our existing customers so

those are the two big areas of focus and

the whole company is driven around

around that so um tus you briefly

touched about this you know um tally

Prime 4.0 I think tally Prime 3.0 did

have received a very good you know um it

was welcomed across msmas and

Enterprises so uh can you give us um

some you know uh sneak peek of what

Tally 4.0 is and you know what's the

difference I mean why should a user

switch to that of course uh so in 3.0

Bava what we did was uh after 6 years of

of GST we felt the need to redo the

entire experience make it simpler make

it faster make it a lot more flexible um

that became the fastest adopted release

in our history uh with 4.0 what we've

done is uh

introduced uh the ability to visualize

data but completely customized to you so

you can create your own visual data

dashboard uh the second thing that we've

done is uh integrated with uh WhatsApp

for business and it's made

Communications professionalizing that

communication for small businesses um

much much better and I think the third

thing is many businesses today sell

online um many of our Casas and and uh

gsps a lot of them work with clients who

maintain data on Excel and they wanted a

simple way to import any data uh on

their own inside tally so these are the

three things that we've done and the

response that we've received till now I

think by the end of the day we should

hit about one lakh people one lakh

businesses that have adopted this again

very very quick uh to get to that place

it's not easy for businesses to upgrade

um but they they adopt very quickly so

tou one definitely I mean hope it really

works as well as 3.0 as well but what is

the pricing like I mean would they need

to pay anything more I mean if they are

your subscribers yeah yeah actually the

way the licensing model works is

slightly different from the rest of the

industry so we sell a permanent license

and actually speaking once you buy that

you don't need to pay us a single rupee

um but what we do is because we give

updates regularly we keep adding more

value for that we charge a subscription

and if you're an active subscriber the

release is completely free if you're not

yet a subscriber the release comes to

you at the cost of a subscription even

if you haven't renewed it two years ago

or three years ago um so it's just that

cost um so yeah those are the

commercials yeah yeah the just let's

jump on to the hottest topic of of let's

say this year later last year as well um

AI right uh what What's exciting for you

uh in the whole Ai and software

convergence I mean what do you see

that's you know going to change what's

going to come in the coming years that's

a great question I don't want to be

suser so I don't know what's going to

change and what's going to come I can

share what perspective we have got sure

sure uh so I think over the last few

months we've got a A Team that that's

been working around figuring out what

kind of new experiences we can bring for

customers uh but as usual we go down to

some very basic

fundamentals um and I think the two

things that we are most excited about is

at the moment AI is quite expensive it's

resource hungry and it's it's uh not so

accessible to everybody in its best

form uh we think that in our domain uh

it's possible to create something that's

very very low cost uh it's going to

happen over a period of time but the

other angle of it is that a general

philosophy we've got is we don't want to

be the

company um that doesn't treat a customer

like a friend what I mean by that is

that uh we don't want to be creepy we

don't want to look at your data ever we

don't want anyone in the company to ever

be able to look at your data this has

been a day one Philosophy for plus it

doesn't matter if it's a cloud world not

Cloud World mobile world every

engineering effort is to bring in

complete privacy and security for you um

and from the early days we had a product

uh feature called tally Vault okay if a

customer forgot a tally Vault password

we would not be able to open that data

for them right that same philosophy is

continue till now and I think that in

the AI World it'll be even more

imperative that how do does a system

learn but

keeping um bavia Secrets her own uh and

I think that in the financial world that

we are in with the trust that we have of

our customers that's something that that

we will really hold and there's a lot of

scope for nice Innovation there so I

think that what the kind of experiences

we're building are based on these two

basic premises can we get it out at an

incredibly low cost uh for our customers

to be able to access and can we do it in

a manner that's making sure that your

privacy and security are protected got

it got it I mean the way you speak about

it shows the enthusiasm you have towards

you know artificial intelligence but uh

why don't we go specific to tally I mean

is there any Investments that's already

been planned like you said AI is not

cheap so what are some Investments

investment plan maybe uh yeah so it's

honestly hard to share numbers what we

do is the way we work from an R&D

perspective is that we have teams that

are dedicated on uh um building out

understanding core Technologies building

out Innovation on top of those core

Technologies and creating technology

even um so we've got a small team that's

dedicated you don't need many many

people uh on the task uh but you've got

a team that's dedicated on this and

we're continuing to hire and build out

that uh build out that effort so that's

the way we perceive it and if we need to

do experiments we have enough

experimental budgeting that we kind of

take care of okay okay so this R&D part

I mean how important is it I think

you've set up a huge office for R&D so

why don't you talk about that R&D is

like 50% nearly of our total expense

right 40 50% of our total expense it's a

really really big deal um if you need to

make databases that Talent isn't

available and the kind of problems that

we want to

solve doesn't really get picked up by

many people uh so we have to spend a lot

of time effort not just uh building and

training folks but giving the freedom

and space space to be able to learn

experiment and I think the culture that

we want to drive is that if we are a the

ambition that we've got is to be able to

build an Indian technology company

that's Global uh I think everyone in

India wants to see not Indian folks

running uh companies outside but Indian

folks running Indian companies and

building them into globally respected

firms uh that's something that we aspire

to do as well and we have the core

fundamentals I feel in place uh so a lot

of our effort goes into building out

things that that help us lead into those

places got it got it definitely yeah um

Tes I mean this is not much touched upon

right uh tally uh tally is of course for

msmes but what about AI uh I see a lot

of new age startups coming up uh serving

particularly for smaller companies and

uh using AI but what is your view in it

how can uh AI change the way msmes

work many many ways I think uh business

owners can get access to Predictive

Technologies that were only accessible

to large organizations um I think they

can get it at a low cost if done right I

think businesses can be able

to um change the way they operate their

accounting experiences CRM experiences

Inventory management experiences the

core processes can become a lot more

Loosely structured and yet uh give you

incredible Insight today if you're a

very small business many of these

processes are done by the owner itself

and they're not processed in the way we

would at a large company think you know

that this has to come first then this

then this then this it happens in order

to manage cash flow um and I think that

despite that your system has to work and

uh there's there's quite a bit of

opportunity there uh the third area is

getting Insight from data that's not

necessarily um yours itself we've seen

how you can ask a question to any of the

Bots or AI tools that are available and

it throws up an

answer and very very good answers I

think there's a lot that you can do

around data uh when it comes to

experiences like that so like this there

are many uh but these are a few that

that come mind definitely defin I mean

that's a biggest space we are also

looking forward to you know in the

coming days how can AI transform the

msma industry in itself

um and um T I mean this is a new

development that I want to know more

about you've recently got RBI no for

your U tally Edge platform so um account

aggregator again digital public goods so

what is uh what is tally Edge tell us a

little bit more about it what are your

plans uh of course India is a credit

staed market and there's a lot of scope

there why don't you tell us more about

that product perfect so I think first

off when the government came out with

the account aggregator philosophy um

saying that the citizen is empowered

with access and providing access on

their own data uh that was a really big

philosophy aligned view uh that we have

we do believe that you have your right

to your data um and what we were

exploring was trying to figure out what

are the possible use cases we think

there are many um and its early days

still very honestly in the account

aggregator space but for us tally Edge

was crafted with a specific intent we

felt like a lot of the use cases that

were shared earlier were all business

oriented how can a business find it easy

to borrow money by providing

documentation uh banking data GST data

all in a single click but everyone who

was focused on the lending sector was

focused on the consumer side true yeah

so what we've done and we get businesses

we understand them we work with them

every day so tally Edge was really

crafted for business owners to both

manage person accounts as well as the

business accounts and the business

accounts have some nuances so that's the

intent of tally Edge it is completely

data blind like any other aggregator uh

but the specialty is that the

experiences are business owner oriented

okay okay I mean is there any timeline

that you want to share when it'll kick

off you can actually download it now um

on your Play Store iOS store app store

you can download it now I'd love to get

some feedback um from you from anyone

who's uh who's listening

uh yeah sure thing yeah yeah um theis I

think U as we come to an end I also want

to talk a little bit about data security

and privacy right you have time and

again mentioned about it uh you know a

unique statement that you shared about

not being a creep and not looking into

the data right uh but now with AI it

comes under a lot of questions right

there's a lot of gray area out there so

how do I mean how does tally play a role

here in terms of ensuring data security

production for businesses yeah it's a

great question um so I think first off

for us it's really a core philosophy if

um you talk to anyone in our team and

they hear me speak uh I make the same

point that I made a few minutes ago I

make the same point to them that we're a

friend we're not you know weird um and

we want to keep that philosophy it

really even though it sounds like a lay

man statement it really is a is a uh bed

rock on which our security technology is

built a Bedrock on which our AI in

Innovation is happening how do you

collect data um how do you process data

how do you provide feedback all of this

can be done anonymously but it has to be

really thought through it's not inherent

it's not built out and therefore for us

if we need to provide this additional

value it will require some work um

grounds up and we've been doing that now

for a long time so we're very confident

that we can get it out

uh but our core philosophy is that I do

think that in the race to bring out

value many times a lot of us do

compromise uh what could be right for

the world yeah and for us a a

fundamental belief uh at the company is

that privacy and security is a right

it's not a compromisable right um and so

for us a lot of the Innovation kind of

happens there I don't know if the rest

of the world is thinking in that light

maybe perceiving me as naive in calling

that out uh but there's a lot of space

for in my opinion Innovation around that

okay okay got it got it have you been in

touch with any government um officials

Ministries for AI regulation uh within

India

uh not really not really I I I would say

that the way we uh uh I don't have a

very strong view on regulation very

honestly um I do know that the

government's job is to be able to

protect its citizens and yet Empower its

citizens um I don't have a framework

that could potentially work out uh but

as the dialogue starts which it has and

and Europe has has gotten a view on it

um you will see other countries rallying

around of view very quickly including

India I feel uh but when dialogue does

happen I think it gives us a lot of

space for both being Cutting Edge as

well as laying down citizen protecting

um views got it got it uh the just uh

why don't you share a little bit of your

road map for 2024 we are I mean almost

the end of 2023 um some of the

Milestones or road map that you've set

that you know will set the tone for the

next year maybe a three points three

points if you can sh yeah perfect so uh

we work with a road map in context of

what we believe the future is so I'll

share a little bit about that and then

come down to what the next year has for

us uh our core over the next few years

is to really build a technology platform

and a set of products that connect

businesses to their ecosystems and do it

smartly and do it intelligently um

that's the the premise in which we're

building what it means is that your core

business management software should be

able to connect your customers your

suppliers uh Banks the government and do

it in a way that makes it comfortable

for you to run your

business in light of that next year

we're hoping to bring out two big

releases maybe more uh that connect the

our customers to some of that immed iate

uh uh um ecosystem players and we feel

that that can be tremendously valuable

so that's on the product side on the

company side we're continuing to look at

the

similar highish growth uh 30 35 40% we

should be able to get to that place as

well um so both on the company side

we're quite happy I think we're very

very excited on the product front and

the Innovations the AI stuff all of

those will keep kind of feeding in into

the road map yeah yeah what about

International expansion I mean are you

super question moving to newer

geographies or if you can just share

about that absolutely so going back to

the dream of building an India first but

India for the world type of company we

are kicked about the international

markets we've been in the Middle East

for now several years largest player by

far in the Middle East uh excited about

Africa excited about southeast Asia

these are markets that kind of get us uh

uh keep us awake at night many many

times and we're hoping that a um company

like us can do a a good job for

businesses there got it got it um T just

I mean last two questions from my end I

am sure it will help a lot of our

viewers as well um one is what is your

advice for new age entrepreneurs who are

coming on board especially for software

Services right there's also a lot of

foro that I see uh in terms of AI in

terms of Innovations but uh what would

be your top advice for them yeah I I I

think uh given the experience that I've

had and what I've seen um a few

fundamentals always work well uh the

first is that rushing to do something in

the software space uh being first to

Market is not something that we've ever

seen work out in our 37 years we weren't

the first accounting software weren't

the first inventory software um but you

ended up being the last uh and that's a

great thing and that

requires both

uh patience uh but it also requires a

little bit of courage in going in

creating things which may not have been

done and on day one you think it takes

time to make it's not about how much

time it takes once you address a problem

most people are smart enough to pick it

up uh so we really feel like if you

really want to create something of value

in software don't rush to be first uh

but rush to be best um that's probably

the big um headline advice that I would

yeah yeah great thanks a lot Tes uh

thanks a lot for joining us on that note

we've come to an end of this very

insightful conversation with Tas kenka

the managing director of tally Solutions

thanks a lot thank you thank you so much

Baba thank

you