MUMBAI: Tally Solutions, a leading technology player in the Business Management Software (BMS) ecosystem, today announced the integration of NPCI Bharat BillPay Ltd. NBBL’s Bharat Connect for Business platform into TallyPrime. This integration creates an interoperable, connected environment where businesses can manage invoicing, supplier interactions, collections, payments, and reconciliations more efficiently, improving their cash flow and reducing delays and streamlining operations.

This integration will further enhance the efficiency of businesses in managing their financial workflows. By facilitating and streamlining time-sensitive tasks, businesses will benefit by saving valuable time while scaling growth. Some of the features include:

• Seamless ERP-to-ERP Invoice Exchange, where invoices move directly between systems, reducing manual effort and errors
• Automatic recording of supplier invoices -ensures consistency and saves time.
• Instant notifications on customer payments for timely financial tracking.
• Automated AR & AP Reconciliation: Streamlines receivables and payables, improving accuracy and cash flow visibility.

Elaborating on the collaboration, Noopur Chaturvedi, MD & CEO, NPCI Bharat BillPay Ltd., said, “Bharat Connect for Business is designed to empower all businesses through a frictionless and interoperable infrastructure. Through this integration, MSMEs onboarded by Tally can now operate in a more connected environment where invoices, payments, and reconciliations work hand in hand. This collaboration will accelerate the adoption of digital practices while enabling a unified experience across the entire ecosystem of businesses, banks, and customers.”

Speaking on the collaboration, Tejas Goenka, Managing Director, Tally Solutions, said: “At Tally, our mission has always been to simplify business for SMEs. The integration with Bharat Connect for Business is another step in that direction, allowing businesses of all sizes to benefit from a truly connected and seamless way to manage their transactions from invoicing to payments and reconciliation. This will significantly improve how MSMEs operate, allowing them greater control of cash flow and financial health.”

With this integration, Tally Solutions continues to strive towards its vision of connected and intelligent business solutions that support MSMEs across India in digitizing their critical processes, managing cash flow seamlessly, and staying ahead in an increasingly dynamic world today.

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Tally MSME Honours is an annual initiative to recognize businesses and entrepreneurs for their contribution to the economic advancement of the nation. The honors recognize and celebrate the diversity and the positive impact of MSMEs through their best practices at the grassroots level. A platform to reckon with which is also being supported by several renowned organizations, this year the initiative reached the length & breadth of the country and honored businesses from remote and smaller regions like Unnao, Agartala, Vapi, and Asansol amongst others. This is a true testament to MSME Honours being an inclusive recognition platform to ensure that the real impact makers across the tiers of cities, segments, and the unsung heroes driving the economy are celebrated. These honors are given out once a year on the occasion of International MSME Day and apply to all types of businesses with a turnover of fewer than 250 crores and a valid GSTIN.

Shubham Patil from Genesis Tech Engineers Pvt Ltd is honored in the ‘New Gen Icon’ category. The company specializes in MEP (Mechanical, Electrical, Piping) system design for a diverse range of industries, including semiconductor infrastructure, energy sector power plants, solar infrastructure, transportation, space, and chemical-oil-gas designs. Genesis Tech Engineers provides MEP design validations, ensuring compliance with engineering standards and local government policies. The company also offers comprehensive project management solutions, aiming to deliver projects within agreed timelines. Their Special Project R&D Department focuses on innovation and automation, tackling complex engineering challenges.

Kavita Chakraborty from Konnect Consultancy Services Pvt Ltd is honored in the ‘Wonder Woman’ category. The company delivers comprehensive financial services—bookkeeping, taxation, and payroll—primarily to the export sector. Utilizing both online and traditional sales channels, the firm has achieved steady growth, expanding its client base and enhancing customer satisfaction.

Celebrated across four zones (East, West, North, and South) of the country, the honors were given across 5 categories:

• Wonder Woman: Recognizing women who have overcome challenges to establish thriving businesses, inspiring others in the process.
• Business Maestro: Celebrating seasoned professionals whose expertise and resilience serve as guiding beacons for aspiring entrepreneurs, laying the groundwork for enduring success.
• New Gen Icon: Highlighting startups as dynamic leaders in the business landscape, pioneering fresh solutions to age-old challenges, and carving out new paths for growth.
• Tech Transformer: Honoring businesses at the forefront of technological advancement, leveraging digital tools to drive efficiency and effectiveness in their operations.
• Champion of Cause: Acknowledging champions who prioritize the global well-being of MSMEs, making significant contributions towards fostering a more sustainable and inclusive business environment.

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INDIA: Tally Solutions, a leading technology player, has launched the #StartsWithOne campaign, sharing inspiring tales from India’s growing Micro, Small, and Medium (MSME) businesses. Launched amidst the ongoing fourth edition of their flagship annual property ‘MSME Honours’, Tally aims to encourage participation from more emerging MSME entrepreneurs this year through this campaign.  

The #StartsWithOne campaign spans across two months featuring 20 inspiring stories of MSME owners who have won previous editions of Tally’s MSME Honors. #StartsWithOne is an ongoing effort that will recognize and celebrate winners of MSME Honours from previous and current editions on various digital platforms.  

Commenting on this initiative, Jayati Singh, Chief Marketing Officer, Tally Solutions, said, “The #StartsWithOne campaign is more than just a storytelling initiative; it is an effort to build a strong community of inspired and motivated MSME owners who transcend the potential of this dynamic industry. The campaign highlights how every business starts with one – passion, idea, or intent; and showcases some remarkable entrepreneurs who share their one big push and drive that propelled their growth. We are optimistic that these inspiring stories will encourage more MSMEs to share their journey at MSME Honors 2024 which has received a phenomenal response with over 16,000 nominations”.  

Artistically curated by Mumbai-based Great Mountain Picturehouse, each story from #StartsWithOne tails motivating the journeys of emerging MSME owners, diving deep into their professional milestones as well as their journeys in driving innovation, excellence, and growth.  

Speaking about the campaign, Abhishek Lamba, Owner, and Director, of Great Mountain Picturehouse said, “Our main objective, as a creative organization was to create an invigorating visual capturing the essence of growing MSMEs that Tally has acknowledged over the years. Through meticulous story-telling and using visual aids, we curated a series of 20 films, each spanning over a range of 1.45 to 2 minutes. The AD films are a celebration of Tally’s efforts in boosting MSME entrepreneurship in the country.” 

The campaign is currently live and will be showcased until July end. It will be promoted on Tally’s YouTube, Facebook, Instagram, and through Tally’s extensive customer and partner network, reaching over 5 million people nationwide. Some of the inspiring stories that have gone live: Launch video, Furn Bamboo Pvt Ltd, BeepKart 

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INDIA: Tally Solutions, a leading name in the Business Management Software (BMS) industry, announces the launch of its new endeavor to educate over 6 lakh MSMEs in Pune and across Maharashtra about the benefits of the Account Aggregator (AA) Framework. The AA framework was launched by the Reserve Bank of India in the year 2016 to boost the open-banking ecosystem. Aligned with this, Tally launched its subsidiary, Tally Account Aggregator Services Pvt Ltd, with its product TallyEdge allowing users to effortlessly consolidate all their financial information from various financial entities in one place; with the capability to view or share that information securely, in real-time and only with their consent.

There are over 40 lakh MSMEs in Maharashtra registered with Udayam who can benefit from the account aggregator once on-boarded as part of their digital journey. Ensuring 100% secure digital data access, and consent-based data sharing with financial institutions, TallyEdge will help create easy access to the lending ecosystem and other financial services for these MSMEs. Industry projections indicate a significant credit gap of 25 trillion in the nation, with Maharashtra registering the highest debt demand at 20%. Tally aims to sensitise the MSME ecosystem and raise awareness about the benefits of AA, to mitigate this credit gap.

According to Samir Dixit, General Manager – West Zone, Tally Solutions, “As a key player in the Business Management Software (BMS) sector, we currently hold a 75% market share in the country and Maharashtra plays a significant role. With TallyEdge, our goal is to further extend our support to MSMEs facing challenges in accessing formal lending. In Pune, we are set to organize a series of awareness sessions in partnership with our allies and industry bodies in the coming months to promote an in-depth understanding of the AA framework and its potential for businesses”.

“With our commitment to further augment the MSME ecosystem, we aspire to onboard nearly 20 lakh businesses in India onto TallyEdge within the next 3 years. TallyEdge provides users with comprehensive control over their data, allowing them to effortlessly approve, reject, pause, or revoke any data-sharing requests. We are confident that through TallyEdge, we will not only strengthen the account aggregator ecosystem in the region but also empower more MSMEs to achieve their growth vision”, added Vikas Shetty, General Manager – Financial Services, Tally Solution.

In the initial phase, the awareness efforts will cascade through their extensive partner network in the region. Furthermore, the brand looks forward to partnering with large financial institutions to extend its reach. Through these efforts, Tally aims to make a substantial contribution to facilitating the formal lending journey of MSMEs.

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