Introduction
Tally is powerful accounting software, which is driven by a technology called concurrent multi-lingual accelerated technology engine. It is easy to use software and is designed to simply complex day to day activities associated in an enterprise. Tally provides comprehensive solution around accounting principles, inventory and data integrity. Tally also has feature encompassing global business. Tally software comes with easy to use interface thus making it operationally simple.
Tally accounting software provides a solution around inventory management, stock management, invoicing, purchase order management, discounting, stock valuation methodology, etc.
Tally accounting software also comes with drill down options, which can track every detail of transaction. It helps in maintaining simple classification of accounts, general ledger, accounts receivable and payable, bank reconciliation, etc.
The technology employed by tally makes data reliable and secure. Tally software supports all the major types of file transfer protocols. This helps in connecting files across multiple office locations.
Tally accounting software is capable of undertaking financial analysis and financial management. It provides information around receivables turnover, cash flow statement, activity consolidation and even branch accounting.
Benefits of Tally Accounting Software
- Any business owner understands the importance of maintaining proper books of account.
- This practice ensures that finance for the company is always in order and are correct at all given points of time.
- Company should always be aware of its financial positions.
Earlier, most of the businesses were employing manual practice in maintaining books of account.
However, with the advent of modern information technology, this task can be performed by accounting software. Tally is one such all powerful accounting software.
Tally accounting software provides a solution to all the problems real businesses have to encounter. Single software takes care of all tasks required for enterprise management. Accounting task such as records keeping, accounts receivable and payable management and bank reconciliation are made simple through tally.
Financial management is also made simpler under Tally software. The software allows management of finances across multiple locations can handle multiple currency transactions, manage cash flow and interest payment.
Capability Maturity Models
When organizations want to be certified for their quality or operational excellence, they usually turn to quality frameworks like Six Sigma, Kaizen, or TQM. These are just representative of the different quality and operational excellence models and there are many other frameworks as well. Similarly, there are process capability models like the SEI-CMM model (Software Engineering Institute – Capability Maturity Model) or the iCMM, which is specific to software companies, and the PCMM, which is an indicator of the HRM process capability or the people management capability.
All these models pertain to how well the organizations are mature in terms of the Processual aspects. For instance, for a long time in the 1990s and the 2000s, many software companies made it a point to get themselves certified as SEI-CMM capable because the trend and the fad during those decades was for Processual maturity which was widely seen as an indicator of how well these companies managed their processes.
The SEI-CMM Framework
These frameworks like the quality and the operational excellence frameworks were based on how defined and optimizing the companies were with respect to processes and maturity in terms of quality and operational excellence. The SEI-CMM model had five stages that were initial or undefined, repeatable, defined, managed, and optimizing that were deemed to indicate the extent to which the organization’s processes were mature
