Author: SmartenApps

Many accounting and finance professionals use Tally ERP for data entry and reporting. If a business adds analytics to the Tally ERP environment, it can provide user-friendly augmented analytics that will optimize resources, increase productivity and add value to the business and the user by offering insight into the mountain of data contained within the Tally solution modules.

This article discusses four (4) examples of insight gleaned from adding built-in reporting and augmented analytics to the business accounting and finance software solution.

Banking and Cash Management

This report allows users to search for and understand trends and patterns in banking and cashflow. Business users can search for a particular time period and compare that time period to comparable historical periods. Identifying trends and patterns in cashflow and banking can provide valuable information and alert the business to issues that may affect the ability to apply for funding, the capacity of the business to make investments, fund new projects, etc.

Sales and Purchasing

Business users can explore sales to date, and examine monthly, quarterly and yearly trends and key performance indicators (KPIs). The business can analyze sales, identify top customers and detail sales registers. These trends can help sales managers identify top sales staff and techniques, where to market and which customers to target. Purchasing managers can identify trends and anticipate the need for supplies to satisfy demand.

Payables and Receivables

Accountants routinely use payables and receivables to highlight business issues. With built-in reports to analyze payables and receivables, accountants can take analysis to the next level, break down payables and receivables by creditors and debtors, by product, by service and/or components and look for trends for overdue collections, invoicing issues, potential customer or client defaults based on previous payment history, etc.

Inventory Management

Inventory management is crucial to business success. Carrying and warehousing an overage of inventory costs money. Running short on inventory of supplies or products costs the business in prospective sales. Built-in reports for Inventory Management allow business users to analyze inventory to identity current shortages or overages and to use trends to anticipate where future issues may arise. Users can explore overstock and understock to look for wholesale opportunities or identity targets for product discounts to move inventory, and they can explore issues and opportunities for products, shipping and distribution.

In this article, we explored four of the many benefits and features the business will enjoy by adding integrated augmented analytics and built-in reporting for business and professional use.

These are just a few of the reasons for integrating augmented analytics with Tally ERP. If you want to get more value out of your Tally ERP solution and optimize your resources and professional efforts, Contact Us for more information on SmartenApps For Tally.  For more information about integrating Augmented Analytics with Tally ERP, visit our Blog.

The Tally ERP Solution is very popular with business users – accountants, finance professionals, inventory and purchasing managers and others. To take Tally to the next level, many organizations are integrating augmented analytics to enable insight, make fact-based decisions and allow accounting and finance professionals to add more value by making accurate, concise recommendations and suggestions to clients and team members so that the business can control expenses, understand and manage tax implications, improve supplier networks and purchasing workflow and optimize other processes.

In this article, we discuss four critical features to consider when integrating analytics with Tally ERP.

Designed for Business Users

The tools you provide for your business users should include Augmented Analytics, Business Intelligence and Reporting Integrated with the Tally ERP solution for easy access and intuitive use.  Users want easy-to-use tools that provide sophisticated insight into data using a myriad of value-added tools and features. Look for features that offer the ability to build a ‘story’ and review data in clear, concise visualization, dynamic charts and graphs, modern business intelligence features, and key performance indicators (KPIs) metrics to help you sustain a competitive edge.

Accessible from Within and Outside the Office

Today’s team members often work outside the office. They will want access to Tally ERP and to integrated analytics from desktops inside the walls of the office, from native mobile applications via Cloud server to fetch and display required data, graphs and reports and seamless security and privacy protection via web interface with built-in reporting available from anywhere.

Provides Comprehensive, Built-in Reporting

Your business professionals have a variety of needs. Look for built-in reporting that is designed for easy access and is formatted and available for any user so the accountant, finance pro, purchasing managers and others can choose the reports that are right for them and gain valuable insight into data across the enterprise. Overview Reports for Sales, Purchasing, Payables and Receivables, Income and Expenses, Cash and Banking, Duties, Taxes, Monthly Trends, Top and Bottom Analytics, Contribution Analysis, Cost Center Analysis, Ledgers, Account Statements, Tax and Statutory Reports, and Key Performance Indicators (KPIs) are important components of the most comprehensive picture of your business.

Offers User-Friendly Access to Analytics

Your business users do not want to learn a complex, augmented analytics software system with complicated features and analytical techniques. They want easy access to integrated analytics so they can quickly and easily perform analytics without a lot of training and effort. Remember, the accounting or finance professional is interested, first and foremost, in the data contained in the Tally environs. When you can integrate analytics and Tally ERP data, you give your users the tools to make confident decisions, improve workflow and business processes and help users add value to your business as professional consultants who bring together their professional knowledge, the data contained in the Tally ERP system and the analytics you need to understand and manage results.

These are just a few of the considerations for integrating augmented analytics with Tally ERP. If you want to get more value out of your Tally ERP solution and optimize your resources and professional efforts, Contact Us for more information on SmartenApps For Tally.  For more information about integrating Augmented Analytics with Tally ERP, visit our Blog.

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.

Improving Collaboration

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.

If your business is using Tally ERP, your team members have access to tools that support their roles in every aspect of accounting and finance. Whether a user is focused on purchasing, inventory and supply chain, accounting and statutory reporting, finance and investment or any one of a number of other disciplines, Tally Solutions are designed to enable data entry, data organization and reporting.

In this article, we review four of the benefits the business will enjoy by adding augmented analytics to the Tally environment and how the integration of augmented analytics can provide additional tools, insight and value to the organization and make your team members more efficient and effective.

Augmented Analytics is a term coined by Gartner analysts to describe a data analytics approach that leverages machine learning and natural language processing (NLP) to provide simple tools for business users and streamline and democratize the analytical process so that every team member can have access to business intelligence and analytics for decision-making.

Go Beyond Data Entry

The typical accounting and finance professional uses Tally for data entry. Entering and tracking data in a single system allows users and managers to see reports that reflect the current state of the business. By adding augmented analytics to the tools available to your team, you support users and empower them to use their industry and domain knowledge to explore and find ‘nuggets’ of data that will help them make decisions and, more importantly, allow them to go beyond simple data entry and reporting to provide valuable advice and recommendations to the management team. Sifting through traditional reports and trying to ‘see’ the real story is often difficult in a traditional accounting and finance system. With integrated augmented analytics, users can theorize and discover answers and use that information to improve outcomes.

Reduce Guesswork and Opinion

At the end of the day, a team member can print reports, pour over data and highlight areas for improvement or perhaps an area they think might represent an opportunity for the business. But, if the data is not presented in true analytical form, team members may draw incorrect conclusions or leverage incomplete information to make a decision. Every person has a bias or an opinion and, while that position may be based on years of experience, we are living in an ever-changing world and business and markets are also changing. So, the conclusions they draw may be flawed if they are based solely on their own experience. With augmented analytics, users can produce graphical representations and tell a story, using data that will lead them to make decisions and recommendations based on metrics and facts.

Encourage Continuous Improvement

When a business makes the decision to integrated augmented analytics into the Tally environment, and provides access to those tools to business users, it can also engender a culture of continuous improvement and encourage team members to explore, discover and use real data and metrics to find ways to improve business processes, identify supplier issues, inventory process changes, and possible tax issues or challenges – all before these trends and patterns become a crucial issue. By encouraging users to go beyond data entry and truly leverage data and metrics to manage the business, the organization can become more agile, engender continuous improvement and ensure that every users is contributing to business success as a vital member of the team.

Improve Time to Market

Your competitors are using augmented analytics in every corner of the organization. When you consider your own business analytics needs, remember that accountants, finance, purchasing managers, inventory professionals and other related roles play a key role in controlling expenses and generating revenue. To be successful today, your business must find those hidden opportunities and issues, wring every drop out of expenses and leverage a myriad of techniques to generate and keep revenue. Identifying when and how to enter the market, how to improve the quality and efficiency of the supply chain, how to capitalize on sales and customer payments and use data and information in creative ways to improve time to market for new products, price points, customer engagement, tax implications, purchasing processes etc.

These are just a few of the benefits your business will enjoy by integrating augmented analytics with the Tally ERP accounting and finance solution suite.

If your business is using Tally and you want to take your results to the next level, consider SmartenApps For Tally, a solution that provides value out-of-the-box with analytics, dashboards and reports that include an Overview, Sales & Purchase, Bank and Cash, Payables and Receivables, Inventory, Taxes, Cost Center, Ledger, Drill-Down, Accounts Statements, and Reports. For more information about Augmented Analytics and its application in accounting, finance and for Tally, visit our Blog.

The Tally ERP Solution accounting and financial application is used around the world and is immensely popular among its users. It is a critical step in the workflow process for finance and accounting professionals and contains crucial data needed to make financial decisions, to provide statutory reports and to support business users as they execute roles and responsibilities. The Tally reporting functionality provides basic reports but, if businesses and team members can incorporate analytics and use the data contained within the Tally solution to illustrate, measure, share and make decisions, this elevated capability will enhance and improve business results and ensure fact-based decisions across the enterprise.

Businesses demand more of their team members today and those demands include the advancement of data literacy and the ability of every business professional to use and understand data and to make recommendations, and perform tasks using factual, clear information on a day-to-day basis. If a business provides mobile analytics within the Tally App, business users can find and use Tally business intelligence, leverage Tally KPIs to establish key performance indicators and measure and monitor results, and use all of that information to make confident decisions – all with access on the road, while working at home or in the office.

The Tally dashboard within the mobile analytics app is easy-to-use and provides clear, visually insightful results that can be shared and leveraged for presentation, decisions and day-to-day actions and tasks.

Your business and users can leverage the best of Tally ERP and combine that power with simple, yet sophisticated business intelligence and analytics reporting to achieve the results needed to improve competitive positioning and to make the right decisions across the enterprise. A Software as a Service (SaaS) solution makes data accessible from anywhere and is cost-effective, quick to implement (within minutes, rather than weeks or months) with no implementation or customization costs or extensive training requirement.

SmartenApps for Tally allows users to leverage the popular, familiar Tally app and provides access to analytics via Web and Mobile App options in a Software as a Service (SaaS), easy-to-use, cost effective environment. Explore SmartenApps for Tally and Register Now to get started!