"We had 80 people on our rolls till a year ago even though we had a 90 per cent market share now we have 350 people," Bharat Goenka, Managing Director of Tally Solutions, said. There are 3.2 million small and medium enterprises (SMEs) using accounting software in the country and the number is projected to rise by at least a million within the next 12 months.īangalore-based Tally Solutions, which accounts for about 90 per cent of the financial accounting software used in the sector (the remaining 10 per cent is divided among some 600 other providers), has got 240,000 new orders for its VAT-compliant software, Tally 7.2, in the lst 15 days, compared with 190,000 it bagged in 19 years since its inception in 1986. In the current financial year year, the business is expected to cross Rs 2,000 crore (Rs 20 billion). ![]() ![]() With 19 states switching to the value-added tax (VAT) from today, the cash registers have started ringing for software companies providing VAT-compliant accounting solutions for small- and medium-sized firms.Īccording to industry estimates, the sector purchased accounting software worth Rs 1,500 crore (Rs 15 billion) in 2004-05, up from Rs 700 crore (Rs 7 billion) in 2003-04.
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