Tally & TranZact: Business Accounting Software Benefits for SMEs

By Team TranZact | Published on Jul 3, 2024

An SME manufacturing business has many moving parts. Taking care of all of them together at once is difficult. For a business owner, managing inventory, stock levels, accounts, ledgers, payables, along with daily firefighting gets tough. This is why digitisation of your manufacturing business is very important. Especially if you are planning to grow your business.

In this blog post, we will learn about Tally business accounting software and TranZact business management software and how together they help you take control of your business from enquiry to accounts.

TranZact - Best Inventory Management Software

What is Tally?

Tally Solutions Pvt. Ltd. is an Indian Multinational software company that offers business accounting and management software under the name Tally. Tally accounting software helps in accounting, finance, GST & other compliance requirements and makes these comprehensive processes easy for the organizations.

Tally automation software was started in 1986 by a Father and Son Duo (Shyam Sundar Goenka and Bharat Goenka). They started it to help them and others out who needed a software solution to help them manage their books of accounts It is one of the largest business management software providers and is serving around 2 million businesses worldwide.

What is TranZact?

TranZact is easy to use software that helps in digitizing the business process from enquiry to dispatch. TranZact provides all the benefits and features of ERP and inventory management software like streaming of all business processes, faster documentation, inventory management, and financial assistance. But, TranZact is not as costly as any of them.

It was founded by IIT and IIM graduates 2017. The main idea behind TranZact is that every Indian SME manufacturing businesses should take a step forward in digitizing because that is the future. This is how TranZact is choosing to contribute successfully to the Digital India initiative of the country.

How is TranZact different from Tally?

An ERP (Enterprise Resource Planning) software is used to plan and manage supply chain, manufacturing, services, financial and other processes of an organization. ERPs are used to automate and simplify individual activities across a business or organization, such as accounting and procurement, project management, customer relationship management, risk management, compliance, and supply chain operations. Neither Tally, nor TranZact, are an ERP.

Tally and its products solve one of the significant problems which businesses have. This problem is Accounting, Tax Compliances, Financial Management, and Analysis. So, Tally ERP software is not entirely ERP software. But they provide some of the services that ERPs offer.

Now let's understand about TranZact. TranZact provides inventory management, document processing, batch management and more. It has 5 modules - sales, purchase, inventory, production, and planning. These 5 modules along with other features like payments and reports, help you take control over your entire manufacturing process from enquiry to dispatch. TranZact helps in automating and managing all of the business's core activities.

Read More about - ERP Implementation Failure- How Company Size Matters

How both TranZact and Tally working together can help SMEs?

Big companies like SAP and Oracle that offer ERP and business management solutions are among the Best software. But there is a problem in them. These are not suitable for SMEs. Firstly, because the ERP implementation process is lengthy and complex. And many of the ERP modules that they offer are of no use for SMEs. Secondly, ERP software is very costly. Many small businesses are unable to pay for them.

SMEs need software that is easy to implement, affordable, and completes all their needs. And that is where TranZact and Tally come together to help them out.

  • Tally helps businesses in all their accounting needs which is important. And TranZact helps in the document preparation necessary for accounting as it serves as proof of transaction. Also, through the Tally TranZact integration feature, documents can be shared easily.
  • Some businesses use inventory management in Tally and inventory control in Tally. Tally inventory management software is a good option, but the software is made for accounting. Features of TranZact on the other hand, are made for inventory management. Inventory control in TranZact is easy and error free.
  • TranZact business intelligence dashboards and other features help business owners to track all the business activities easily and efficiently. Tally financial management solutions provide the financial reports required for different purposes. Together with both these reports, it makes the decision-making process for the owners data-driven and efficient.
  • Both TranZact and Tally help in knowing the balance of creditor and debtors of businesses. The balances can get matched with each other to understand if it's correct. TranZact helps, sending payment reminder emails to their debtors, and serves as a medium of conversation among two businesses.
  • TranZact inventory management software lets you take complete control of your stocks. With real time updates on stock levels, you never have to worry about missing stock or dead stock.

Tally for small business is the most reliable accounting software for SME. TranZact is best for everything else. It is the best software which serves as a medium for information flow from one of these departments to another.

Take Complete Control with TranZact and Tally Together

Software like TranZact and Tally are best for SMEs. Tally is already popular in the SMEs markets for accounting needs and is almost irreplaceable. TranZact is one such tool that offers all the features which Tally doesn't provide. TranZact is replacing Excel and making the activities done on Excel digital and manageable.TranZact can be implemented in less than 14 days.

They provide you with one point of contact and that person stays with you throughout the implementation process. TranZact also offers lifetime chat support for any issues you might face later. Tally and TranZact together offer all the services which SMEs need from ERP software and are affordable.

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TranZact is a team of IIT & IIM graduates who have developed a GST compliant, cloud-based, inventory management software for SME manufacturers. It digitizes your entire business operations, right from customer inquiry to dispatch. This also streamlines your Inventory, Purchase, Sales & Quotation management processes in a hassle-free user-friendly manner. The software is free to signup and gets implemented within a week.