| Announcing the launch of the new version, which is VAT compliant, here on Thursday, Bharat Goenka, MD of Tally Solutions said he was aware that the target indicates a nearly 300 per cent growth over last year's revenues of around Rs 120 crore but felt that it was possible. |
| "The implementation of VAT itself would have increased our revenues by a significant portion. Apart from that we have also expanded our distribution chain to change the concept of software availability in India," said Goenka. |
| The company has expanded their dealer network from a small 110 to around 25,000 resellers. Tally also plans to use 'influencers' like CAs, trade associations and even tax consultants to act as knowledge pools for easy customer access. |
| Goenka said that the expansion of dealer base and the launch of the new version should have happened in October, but that even this delayed launch, will not impede the sale of the products. |
| He estimates an addition of 1 million customers to their existing base of 1.5 lakh customers, to boost their revenues. |
| He goes on to add that the company hopes to earn a profit margin of 15 per cent, inspite of expenses involved in marketing the product as well as to increase awareness of VAT. |
| The new product aims to help Tally's customers comply with VAT wherever they are based in India. Tally's customers predominantly come from the SME segment, of which there are an estimated 8 million establishments in India. |
| "In another three years we plan to get $2 billion in revenues. For this we will grow our solutions business aimed at large enterprises and our education segment, with Tally Academy," claimed an ambitious Goenka. |
| The company plans to introduce payroll and HR additions within the next quarter and multi lingual capability in the next six months. |
| The single version of Tally 7.2 will cost Rs 4,950, the multi-user version will cost the customer Rs 13,500. |
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