Tally Accounting Package History
A long-felt need for an
accounting package was eventually fulfilled in the year 1986. A father and son
duo Shyam Sunder Goenka and Bharat Goenka developed accounting software more
for their personal need than for commercial purposes. But the future had other
plans for eventually the package was going to be a big commercial success, and
dominate business management in India.
The architect behind the
application software was Bharat Goenka a mathematics graduate. He developed the
first Tally version as an MS-DOS Package and from there onwards there was no
looking back. The company named Peutronics Electronic has later renamed Tally
Solutions in the year 1999.
|
The accounting software application was named
Peutronics Financial Package. For the father and son duo, the journey into the
world of corporates and big business had begun. But the accounting package was
so user-friendly and flexible that it became very popular among small
businesses and SMEs.
There was no shortage and the
application was evolving day by day. This was thanks to the enthusiasm and zeal
behind the pioneering efforts to provide India with an enterprise accounting
package.
Tally Versions & Emergence of MIS
The journey entered a
developmental stage from the year 2006
onwards, and many versions were subsequently launched. The software application development company
was keeping in tandem with the needs and demands of the customers as buyers and
subscribers began to grow rapidly. The latest
versions also kept in mind the changing landscape of the economic front in
India, and the emerging business paradigm.
There was a need to keep into
account the development of advanced computing and networking in India. These
were the two fronts that were fast-changing computerized accounting
possibilities, and Tally Solutions had to be in tandem. The greatest impact
brought in business management was the development of management information
systems or MIS. This development became
possible due to advanced computerization. The development in the hardware and
software sectors was taking place overnight beside the networking capabilities.
These systems had developed capabilities to integrate software tools and
associated programs to enhance MIS capabilities. MIS was now a bundle of
diverse capabilities for categorized storage and information retrieval. The
system was now a unified source of information with immense capability
for customized reporting and data accumulation for spot analysis.
Integrated Software Tally & F1 MIS
MIS emerged as a database
retrieval source that could help business owners, CEOs, and Executives. With
little adaption, they are data-ready and make important on-spot or planned
strategic decisions.
Tally emerged as a
key player enacting the role of a computerized accountant, database storage,
and retrieval system. Its capabilities to provide customized reports comprising
multiple metrics in required dimensions was enhanced by the introduction of F1
MIS by Meta vision Technology based in Mumbai.
With the help of F1 MIS application
software, data can be sliced and diced as required. This helps managers to view
reports comprising the dimensions needed. Hence the stripped-down versions of
Tally were restructured using F1 MIS. It was like an empty apartment being
fully furnished and appointed by a specialist interior decorator. F1 MIS core
focus is thus explained.
Futuristic Outlook
Both Tally and F1 MIS are
products with a tremendous future behind them. This is due to them keeping in tandem
with the economic landscape, ever-changing business paradigms, and complex
regulatory compliance. eCommerce and entry of Government into online regulatory
compliance, e-tendering, and emerging tax structures like GST for example
require constant feature additions to this software.
|The financial rules and
regulations call for major changes in enterprise accounting and management
software. Tally Solutions keeps in tandem with times ad Tally Prime is an example. Along with GST it
is compatible with other managing regulatory compliances in electronic formats
and producing invoices and desired reports.
As complexities in the economic
front increase with globalization solutions like Tally and F1 MIS help simplify
day-to-day working and decision-making. Both these packages can be sourced from
Metavision Technology based in Mumbai in India.
No comments:
Post a Comment