Hindustan Copper plans new Rs 400 cr concentrator plant in MP: CMD
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Time of India
39 minutes ago
- Time of India
Tally's game plan: Deepening roots in Bharat, bold moves in the Gulf
As Indian MSMEs accelerate their digitisation efforts after the Covid-19 pandemic, the home-grown accounting software solutions company, Tally, is doubling down on its commitment to ensuring technology adapts to businesses, rather than the reverse. With the launch of TallyPrime 6.0 , the accounting software giant is embedding live banking, UPI payments, and automation features to eliminate friction from finance workflows. In an interview with ET Online, Tejas Goenka, Managing Director of Tally Solutions Pvt. Ltd , talks about the company's latest offerings, its approach to addressing India's last-mile technological gaps, the influence of markets like Saudi Arabia and Africa on its growth trajectory, and more. Edited excerpts: ET: What specific challenges do MSMEs face with traditional accounting and banking workflows that led to the development of Connected Banking in TallyPrime 6.0? Tejas Goenka (TG): MSMEs often struggled with fragmented workflows across accounting, banking, and payments, resulting in delays, errors, and poor visibility into their financial health. Traditional systems expected businesses to conform to the software's structure rather than adapting to the way MSMEs actually operate. With TallyPrime 6.0, we wanted to flip that equation—offering flexibility, reducing friction, and enabling business owners to work the way they prefer. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In An Khanh (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Undo By integrating banking directly into Tally, we are empowering MSMEs to view balances, make payments, and reconcile accounts without switching systems; whether it's collecting payments via UPI or managing cash flow intuitively, the platform is designed to fit their rhythm, not disrupt it. ET: How do real-time banking insights and features, like smart reconciliations, help SMEs prepare for audits and optimise their working capital? TG: Audit preparation and cash flow management can become taxing for small businesses, not due to lack of discipline, but because legacy tools don't support real-time insights. Smart reconciliation automates what used to be a tedious task, saving up to 30-50% of the time spent. Tally supports over 145 bank formats, ensuring seamless reconciliation across banking partners. Live Events ET: With features like UPI links and QR codes now embedded in the invoicing process, how is Tally transforming collections for MSMEs? TG: Getting paid on time is critical for small businesses. By embedding UPI payment links and QR codes into invoices, we're drastically reducing the payment cycle. The process becomes smoother, faster, and more secure. Businesses no longer need to rely on follow-ups or paper-based processes. With just a few clicks, customers can pay, making it easier for MSMEs to manage cash flow and focus on growth. ET: Security remains a concern with any digital financial tool. What measures has Tally taken to ensure a safe and flexible banking experience? TG: We understand that for businesses to truly embrace digital workflows, trust must be built in. TallyPrime 6.0 includes end-to-end encryption, real-time fraud detection, and granular access controls. Business owners have full control over who can see and do what. Security doesn't come at the cost of usability; we ensure protection runs silently in the background without interrupting daily operations. ET: MSMEs are not always known for rapid digital adoption. How are you convincing business owners, especially the traditional ones, to embrace Tally's new features? TG: Surprisingly, MSMEs in India are more open to digital tools than they're given credit for. What holds them back isn't resistance; it's misalignment. If you present technology that respects their workflows and delivers tangible benefits, they're quick to adopt it, and that's our mission. ET: You're investing in a big expansion across smaller towns. What's driving that push, and what support do you need? TG: While we have a large partner network, there are still 200-300 towns where we lack presence. For the next 3-4 years, the goal is to deepen our reach in these markets. Wherever we have strong partners, adoption is high; where we don't, we see clear gaps. One structural challenge we face is the classification of software as a service rather than a product. That triggers compliance hurdles like TDS deductions and complicated reconciliations, even for start-ups. If the government recognised software products as a distinct category, it would ease go-to-market efforts for companies like ours and reduce the cost of compliance. Additionally, restoring R&D tax credits would fuel innovation—our core technology (Tally Definition Language or TDL) requires significant investment. ET: You have spoken about India-first innovation with global relevance. Tell us more about your overseas strategy. TG: We believe Indian tech can be globally competitive if it's designed with flexibility and adaptability in mind. We're seeing tremendous interest in regions like the Middle East and Africa, driven by the same value proposition—robust, easy-to-use accounting that respects how businesses operate locally. We have launched a native Arabic version of Tally and are now investing heavily in Saudi Arabia. We've also opened an office in Africa and continue experimenting in the UAE, which already contributes significantly to our overseas revenues. The ASEAN and MENA regions are high on our radar. Our expansion is not just about localisation—it's about exporting a proven product-market fit. In India, we serve around 3 million paid users. That depth of experience is shaping how we go global—starting from India, built for the world.
Time of India
2 hours ago
- Time of India
PC Jeweller shares drop 8% as exchanges place stock under surveillance after sharp rally
Shares of PC Jeweller fell as much as 8.1% on Tuesday to Rs 17.20 on BSE after both BSE and NSE placed the stock under the short-term Additional Surveillance Measure (ASM) framework. The decline comes after a sharp rally in recent sessions. On Monday, the stock had surged 11.8%, extending a two-day gain of up to 33% to a high of Rs 18.69, driven by the company's strong business update for the June quarter (Q1FY26). In a filing last week, PC Jeweller reported that its standalone revenue for Q1FY26 rose approximately 80% compared to the same period last year. The company described the quarter as 'very promising and fulfilling,' attributing the performance to continued customer trust and goodwill. Despite volatility in gold prices, the jeweller cited strong sales traction during the wedding and festive season as a key driver of top-line growth. The company also highlighted progress on deleveraging efforts, stating it had 'already reduced its outstanding debts to bankers by more than 50% during FY24–25.' In Q1FY26 alone, debt was lowered by another 7.5%. 'The company continues to revamp and strengthen all aspects of its operations, the results of which are visible in its financials,' the management said. It added that it remains optimistic about 'delivering exceptional performance in the upcoming quarters as well.' PC Jeweller reiterated its target of becoming debt-free by the end of FY26. Technical indicators signal overheating The recent rally has pushed the stock into overbought territory, with the Relative Strength Index (RSI) at 89.2 — well above the 80 mark that typically signals overheating and a potential pullback. However, momentum indicators remain broadly positive. The stock is trading above all eight of its key simple moving averages, from the 5-day to the 200-day, indicating underlying bullishness. The Moving Average Convergence Divergence (MACD) also remains above both the signal and center lines, with a reading of 0.9. PC Jeweller has delivered stellar returns across time frames. The stock is up 50.5% over the past month, 42% in three months, and 17% over the last six months. On a one-year basis, it has soared 249%. Also read | PC Jeweller surges 33% in 2 days after upbeat Q1 update ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
3 hours ago
- Time of India
Kevin Love reacts to stunning three-team NBA trade, says 'never thought I'd be a ...'
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