Tally ERP Solutions are popular with users, especially in India. Whether you are an accounting, finance, purchasing or other related professional, you are probably using this software for data entry and reporting. These tools are an integral part of your day and your role. In this article, we discuss, three of the ways in which business users can benefit from adding mobile analytics to the Tally environment.
Providing Critical Insight
No matter what role you play in your organization, it is sometimes hard to use the data you enter or the data in your reports to gain any meaningful insight. You may be able to draw some simple conclusions (like increases vs. decreases in revenue) but to spot trends, patterns, issues or opportunities, you might need to engage the expertise of a data scientist, an analyst or an IT professional. These individuals can take information from your system and drop it into an Excel spreadsheet or an analytical system and will, hopefully, be able to provide crucial information to support your decisions. In a perfect world, business users can leverage their own domain and industry knowledge to test theories, hypothesize and report in a way that tells a story and leads them to make confident decisions. Integrating analytics with the Tally solution allows the professional to take the data already in the system and use pre-built reports and tools to dive deep into data and create a picture of the business that will provide real insight into how the business is doing. These data-driven explorations allow users to identify issues before they create a real problem and to use information to move the business forward.
Adding Value to Your Role
If you are an accounting or finance-related professional, you can use integrated analytics to take the data in the Tally ERP system to the next level. By understanding the issues and gaining insight you can add value in your practice and in advising your clients. Going beyond data entry and statutory reporting allows you to make recommendations that will provide real value to your clients and colleagues and will expand your role and enhance your professional visibility and reputation. When a business user can leverage sophisticated analytics in a simple environment, there is no need for additional training. Your own professional expertise is leveraged and combined with the data to provide real insight and allow you to quickly and easily add value by drawing the right conclusions and leading your clients and colleagues to the most effective decision.
With integrated analytical tools, all accounting and finance professionals can work within their own role AND collaborate with others to achieve a comprehensive picture of the business, its investments, its tax obligations, its product results, the efficiency of its supplier network, the efficacy of its purchasing strategy and more. Rather than focusing on an individual aspect of business results, and limiting your vision to a single ‘silo’, your professional teams can work together to create and manage a complete picture of the business that will optimize investments, revenue and resources.
This article describes three of the many reasons a business should consider integrating analytics with the Tally ERP solution to improve results and streamline workflow, supplier networks, tax planning and other related activities.
If you are a Tally user and you wish to explore the benefits of analytics for your professional team, start here: SmartenApps For Tally. For more information about Tally analytics for accounting and financial applications, visit our Blog.