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CHENNAI: The Bangalore-based, Tally Solutions, an accounting software company, is restructuring its business, which went through a slowdown in the last five to six years ever since the company acquired two companies — JL Informations and Vedha Automation in 2005 and 2006. After the takeover, Tally Solutions could not handle the sudden exponential growth of employees as a result of the merger. The speed of growth had its own challenges, which reduced the quality and performance of the company in a large way, said Shoaib Ahmed, President, Tally Solutions. In an interaction with journalists, Mr. Ahmed said that the root cause for the slowdown was speed at which it grew. The challenges were cultural fitment of all the employees of three companies. It led to erosion of the value of the product in the market.
Last year, the company decided to rework the business strategy and improve the performance bar. It started engaging and aligning with the business partners and customers' requirements.
He said the company had appointed two-tier partners — master tally partners (MTP) and secondary tally partners (STP).
With the restructuring process, the company had decided to work closely with 140 MTPs and 18,000 STPs. Each MTP would have a maximum of 150 STPs. Of this 10 to 15 would be dedicated partners for Tally.
To improve businesses of these partners, Tally had decided to allocate 40 per cent as their direct commission. Of which, 25 per cent would be for MTPs and the balance for the STPs, he said.
Tally has nearly 5.5 lakh registered users across all segments. But there are 35 lakh small and medium business (SMB) units across the country that are still untapped. Tally was all set to handle the growing needs of the SMBs. But the unforeseen sluggishness in the business and pricing strategy did not attract customers.
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