How Tally Confirms Its Top Position Over The Years

Tally, as an organisation, has gone through a roller coaster ride- right from being a start-up to a market leader, to seeing a meltdown in product pricing. It has several future goals and the main one is to become a 5,000 crore company in the near future. Bharat Goenka, the founder of Tally Solutions – India’s largest company in the accounting software domain has great ambitions. The company intends to surpass $2 billion in revenues by the completion of FY 16-17 at a growth rate that might make other start-ups to think.

Growing twenty times in few years’ time might come across as an unreasonable dream; however, the ambition to do so is perhaps more of a product of Tally’s unrealised ambitions than a statement of overconfidence. After a long road dented with struggle, success and then some huge mistakes, Tally seems to have discovered itself and sees no reason why it shouldn’t take the open road ahead in an alarming speed. The company’s founder seems to be clear on his priorities for the company this time around. According to him it’s quite easy to make money but not that simple to create an impact and if the company succeeds in doing so, it’s natural that the money will flow in.

Tally’s flagship software, ERP 9, is widely considered the best accounting package available to businesses today. Its ease of use and capability to impart real time information access, thus allowing up-to-date cash flow analysis and offering capability to better understand the numbers behind a business on an ongoing basis are what make Tally unique in India. Today, its product has an 80% market share and as per Mr Goenka, manual book keeping is the only competition. Though financial accounting is a global product, it’s extremely unique for every market.

According to experts, the accounting standard and rules in India are quite different and they change very fast as well. One of the biggest benefits Tally possesses is the understanding of the regulatory environment in the country and the fact that they update their products with great frequency. The other big benefit for Tally ERP is its strong network of partners, who actually go and sell their products in the market. Expert opine that for any global company to succeed in India, wherein lot of small businesses require to have individuals coming and selling and getting their products installed, this is a tough act to follow.

Going Forward

Tally primarily sells its products under two brands; Tally and Shoper. The company has introduced its latest version Tally ERP 9 that has been extremely successful. Going forward, it has also identified an area of opportunity, majorly ‘supply chain visibility’; looking to harness its wide reach to offer the last mile connectivity to small and mid-sized organisations.

For Tally to go past the growing completion and hit the aimed $2 billion mark, it needs to get back to the things that made it successful in the first place, which is innovation and unmatched work ethics.

Riyaz Tamboli is a Director at Antraweb Technologies Pvt. Ltd, a leading provider of Tally ERP 9 Software and support. Antraweb is a Master Tally Solutions’ partner with over 20 years of experience in providing Tally services including integration, customization, providing mobile apps, add-ons and more. His knowledge and experience has been instrumental in developing customized solutions for various businesses. Organizations can benefit from implementing Tally ERP 9 for their business and can download it from website.

cafelamuerte made a real revolution in the industry.

Construction Bonds Establishing Secure Connections

This construction bond is the title given to a kind of surety bond that has been made to come into use by investors in projects related to construction. This step has mostly been taken to provide a certain kind of protection against a very severe kind of event taking place that can cause a certain kind of hindrance or failure in the completion of the project, the reason behind it being the insolvency of the builders or the inefficiency of the job to meet ends with the specifications of the contract.

Usually you will notice the existence of three kinds of parties in a construction bond, namely they are the party that has a hand behind the building of the project, the eventual owners and then finally you have the surety company that has got the back of the bond.

As for the types, this kind of bond contains three types; let us have a look at the list:

• THE BID BONDS

In situations where as the expected honor and respect for the bid by the principal which in this case might be the contractor is not met, this bid bond comes into the picture where it provides protection to the owner of the project. The obligee held under the existence of this bond in this case is the owner and he absolutely has the rights to sue the surety and the principal if he wills to in order to establish the enforcement of the bond. In case the principal refuses to extend any kind of honor to the concerned bid, then he takes the responsibility of being liable for any kind of additional costs that might surface.

• THE PERFORMANCE BONDS

This performance bond is used to provide a kind of assurance or rather guarantee by the contractor or the principal. This guarantee talks about the completion of the contract in full accordance with its respective terms. IF under any circumstances, the principal is seen to be facing defaults, the owner holds the right of calling upon the surety to ensure that the contract meets its completion. In that case, the surety will have no other choice but to hand over the contract to a new designated contractor.

• THE PAYMENT BONDS

This is the kind you head to when you need all your payments to be guaranteed, the payments that have been lying under the due tag to subcontractors and some other from the mentioned principal. The subcontractors and the suppliers are the ones who qualify as the beneficiaries for the payment bond. This bond proves to be of a tremendous benefit to the owner especially, the reason being that it comes as a substitute to the mechanic’s liens as a non-payment remedy.

5 Benefits of Financial Technology

Financial technology (also referred to as FinTech) is the use of innovative technology to deliver a wide range of financial products and services. It is intended to facilitate the multi-channel, convenient and fast payment experience for the consumer. This type of technology is effective in many different business segments, such as mobile payments, investment management, money transfer, fund-raising and lending.

The rapid growth of financial technology has been very beneficial for consumers worldwide, such as the ability to serve customers that were not previously attended to, a reduction in costs, and an increase in competition.

Let’s take a look at a few of the benefits related to financial technology:

Better payment systems – this type of technology can make a business more accurate and efficient at issuing invoices and collecting payment. Also, the more professional service will help to improve customer relations which can increase the likelihood of them returning as a repeat buyer.

Rate of approval – many small business ventures are starting to use the alternative lenders like those involved in financial technology because it has the potential to increase accessibility and speed up the rate of approval for finance. In many situations the application process and time to receive the capital can be completed within a period of 24 hours.

Greater convenience – the companies involved in financial technology make full use of mobile connectivity. This can significantly increase the number of people who can access this type of service and also increase the efficiency and convenience of transactions. With consumers given the option to use smartphones and tablets to manage their finances, it is possible for a business to streamline its service and provide a better all-round customer experience.

Efficient advice – many of the latest systems rely on robo-advice to give people guidance on their finances. This can be a very quick and low-cost option to get useful information on investments, as well as to limit a person’s exposure to risk. However, this type of service won’t be able to give the most in-depth advice that would come from a professional adviser.

Advanced security – Using the latest security methods is necessary to ensure more people are confident in using this type of financial service. The need to harness the latest mobile technologies has resulted in a major investment in security to ensure customer data is kept safe. A few of the latest security options used by those in this sector include biometric data, tokenization and encryption.

High Ticket Affiliate Marketing

I started learning about affiliate marketing several years ago. I had bought a digital product in the form of an eBook from eBay. It seemed like a good business model straight away since the sales were automated, and the product could be downloaded instantly. I looked to do the same thing and created a few of my own eBooks to sell online. However, I struggled for a number of reasons.

But the thought of an automated business system never went away. I continued to look into the idea and this led me to the business model of affiliate marketing.

Affiliate marketing is a form of referral based marketing which rewards the affiliate for a sale made on someone else’s website. Anyone can learn how to become an affiliate marketer. What drew me to affiliate marketing was the potential to work for myself from my laptop, without the need to actually handle products or even speak to any customers!

It was also the sheer scale of potential to earn income from digital sales worldwide.

In the first instance, after I created an eBook myself, I couldn’t get anyone to see my content. I figured people would just buy from a website once I had thrown it into the ‘cyberspace’ of the internet world. I suspect many people make this same incorrect assumption.

The truth was a little hard to bear after a number of failed attempts to promote digital products online. However, my first success came after selling a website building program I had used. I created a free blog from a site called hubpages.com. I wrote about the product and created a product review. This is a simple strategy which many affiliate marketers use to make money on the internet. It works if they can get their content seen by the right audience.

My first sale only made me $40 though but at the time it was huge for me. It was a breakthrough which spurred me on to keep going. For me, it wasn’t just $40. It was the future of my earning potential and the ability to earn from the internet without a boss or a crummy job; something which I was desperate to escape having to do!

Nothing much happened after I made my initial sale. I went from one strategy to another and kept getting distracted by shiny objects which promised more money for less work! It wasn’t until I discovered high ticket affiliate programs that thing really stepped up a gear for me.

Within a few months of joining a high ticket program, I was able to make two high ticket sales after advertising on Facebook. It was absolutely amazing and I thought I’d made it! I rested on my laurels though and because I didn’t have a steady income at the time, I pulled the money out, not even thinking about continuing the marketing.

After that I spent all my time focused on content marketing for a while. Content marketing is a pretty slow strategy but I did get some results from it. It was much, much slower though than the paid marketing I had done previously.

Until I had gained some more confidence in what I was doing, I hadn’t put more money into paid marketing strategies again. When I eventually did, I had another major success. High ticket programs can give you huge commissions, depending on how you position yourself in a business system. Products valued up to $20,000+ can earn you 40% commissions on a single sale.

I had a range of these products within my sales funnel but I didn’t have the right mindset or knowledge to trust the journey I was on! I was too scared to spend money on advertising for quite some time. When this changed, so did my business – dramatically for the better.

The power of subscription products also suddenly came into my awareness. Although I had this sales funnel, I didn’t understand it for a long time. It is ‘geared’ to pay you in multiple ways. Subscriptions are just one strategy which can pay you again and again for work done previously.

With subscription products, you sell something once, and it pays you an income – potentially for life. Even a small subscription commission month in month out, can be far better than the odd sale here and there of a much more valuable product. Over time, and as your number of memberships grows, your income grows too.

Multi-tier sales are another feature of the best high ticket affiliate programs. With multi-tier, you can earn commissions based on the sales of your referrals. This means that if you sell membership products of a certain business system, your members sales count as your own and you get a percentage of the commission.

Up-sells are another component of a good high ticket sales funnel. A good sales funnel will have a range of products which you can earn commissions on. You don’t need to sell every product personally because an in-house sales team will do this for you. Simply refer people into your sales funnel and let the funnel do the work.

As an affiliate marketer, your main focus is on marketing. With the right business model, you can earn in multiple ways for having referred customers to useful products and services which will be of value to them.

My journey to find the high ticket affiliate programs was a long one filled with a lot of failures! I tried selling smaller valued products in a variety of different ways. I used organic content marketing strategies and paid strategies to market products. But it wasn’t until I discovered the right business model that things changed for me.

With a good business model you can have more confidence in your marketing strategies. With the right training and mindset, you can accomplish a lot more in a shorter time period.

So, if you want to be an affiliate marketer, I would recommend looking at high ticket affiliate marketing. It is still a business and like any business it takes hard work and motivation to keep going and to make it work. But it takes the same amount of work to fail many times if you face in the wrong direction from the start!

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