Covid 19 Accelerated Digital Transformation Of Smes In Uae– Tally Solutions

COVID- 19 has posed several challenges across the entire business ecosystem of the UAE. However, it has also intensified the digital transformation of the businesses to ensure operational continuity in the ‘new normal’, according to Tally Solutions, a leading international business management software provider. Before the pandemic, digital transition was not a priority for many businesses, but with the onset of COVID-19, and business not being the usual, several business owners have realized the importance of investing in relevant technologies to stay afloat and thrive during the present crisis. New business segments like Foodstuff have started investing in business management software for business continuity and sustenance.

“The pandemic has compelled the enterprises to pivot, start and sustain their digital transformation journey and this trend will only gain strength moving forward. Entrepreneurs have started realising the significance of digitalisation to not only adapt to the new reality but also to be future-ready and resilient. Digital adoption will further accelerate in the UAE against the backdrop of the country’s strong, government-backed digitalisation initiatives that have begun even before the virus outbreak” said Mr. Vikas Panchal, Business Head- Middle East, Tally Solutions.  

Most businesses are prioritizing strengthening their digital infrastructure to ensure uninterrupted operations. Access to business and financial data, managing teams working remotely and seamless collaborations despite the inconveniences and challenges arising from the global health crisis have become important. Among the many business activities, accounting, compliance and other financial aspects remain a key priority that needs to be managed properly. 

“To manage the crucial aspects of operations, business owners must adopt technology that is simple, flexible and easy to use for seamless transition. In addition, it is also important that they have access to all important business and financial data securely and privately from anywhere. This ensures business continuity while keeping them on top of their business operations even when working remotely,” advised Mr. Panchal. 

Tally Solutions is designed to simplify the accounting, inventory and compliance needs of small and medium businesses across sectors and segments. Under the work-from-home scenario, business owners took advantage of the remote capabilities of the software to ensure business continuity and operate hassle-free. The real-time business reports that were available securely and privately enabled them to be compliant and prevent any liabilities and backlogs. 

Over the last few months, Tally Solutions has also been at the forefront of promoting the importance automation for start-ups and small and medium enterprise communities in the GCC region. The company collaborated with several trade associations and hosted multiple webinars for the benefit of SME business owner in the UAE, Bahrain and KSA. They collaborated with Unicommerce, hosted event on Economic Sustenance Regulations, along with multiple segment specific events to address the requirements of respective segments around business growth. In addition, it also conducted workshop with members of ICAI on audit capabilities of Tally, which was joined by over 300 CAs and workshop for students and affiliates of ACCA to train them of the product.