Tally Launches New TallyPrime 5.0; Eyes CAGR Growth Of 30-40% In 3 Years
Tally Solutions on Thursday announced the launch of new TallyPrime 5.0, which enables connected services with API-driven tax filing
Bengaluru, 12 September: Tally Solutions on Thursday announced the launch of new TallyPrime 5.0, which enables connected services with API-driven tax filing.
The latest version with ‘Connected GST’ will serve as a consolidated interface for all online GST operations, without having to visit the GST portal, the company said in a press release.
The new TallyPrime 5.0 further strengthens Tally’s connected experience which includes e-invoicing and e-way bill generation capability, and WhatsApp integration among others.
Moreover, addressing the increasing demand in the Middle East and Bangladesh, TallyPrime 5.0 adds advanced multi-lingual capabilities that will extend to Arabic and Bangla language interfaces with phonetic support.
The new solution encapsulates an array of unique features including a direct connect to the GST portal which enables fast data upload and download, GSTR1 return filing, new recon flexibilities, including GSTR-1 recon and GSTR-3B recon features unique to Tally, Input Tax Credit (ITC) at risk identification and ledger creation.
The feature also supports end-to-end ‘bookkeeping to return filing’, the release added.
With this new launch and other product pipeline initiatives, Tally is aiming to expand its current user base of more than 2.5 million by 50 per cent over the next 3 years, while eyeing a CAGR growth of 30-40 per cent.
Commenting on the launch, Tejas Goenka, Managing Director of Tally Solutions said, “We’re continuously innovating our technology to help simplify business operations for MSMEs. Our latest release is designed to make GST filing simpler and hassle-free for Indian businesses. Currently, only a small portion of businesses use API-based filing, but we’re aiming to change that. With this latest launch, our focus is to consolidate the end-to-end GST filing journey of MSMEs, enabling them to save 60-70 per cent of their time. This release will also give a real-time status of their suppliers’ GST, safeguarding their ITC.”