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COVID 19 accelerated digital transformation of SMEs in UAE– Tally Solutions

COVID 19 accelerated digital transformation of SMEs in UAE– Tally Solutions

COVID- 19 has posed several trials over the whole business ecosystem of the UAE. However, it has also increased the digital conversion of the companies to secure operational sequence in the ‘new normal’, according to Tally Solutions, a first global business management software provider. Before the pandemic, the digital transition was not a choice for many businesses, but due to the onset of COVID-19, and business not being the usual, numerous business owners have recognised the importance of investing in relevant technologies to stay afloat and grow during the present crisis. New business segments like Foodstuff have begun investing in business management software for business continuance and sustenance.

“The pandemic has enforced the enterprises to pivot, start and sustain their digital conversion journey and this trend will only gain power moving forward. Entrepreneurs have started realising the importance of digitalisation to not only adapt to the new entity but also to be future-ready and flexible. Digital adoption will further stimulate in the UAE on the backdrop of the country’s strong, government-backed digitalisation initiatives that have started even before the disease outbreak” said Mr Vikas Panchal, Business Head- Middle East, Tally Solutions.

Most companies are prioritizing increasing their digital foundation to ensure uninterrupted operations. Access to business and financial data, leading teams working remotely and seamless collaborations despite the difficulties and challenges arising from the global health crisis have become important. Amongst the many business activities, accounting, agreement and other business aspects remain a fundamental advantage that needs to be handled correctly.

“To manage the crucial aspects of services, business owners must adopt technology that is manageable, flexible and simple to use for a seamless transition. Besides, it is also important that they have access to all major business and financial data securely and privately from everywhere. This ensures business continuity while putting them on top of their business processes even when operating remotely,” advised Mr Panchal.

Tally Solutions is intended to explain the accounting, inventory and compliance needs of small and average businesses across sectors and segments. Under the work-from-home situation, business owners took advantage of the remote capabilities of the software to guarantee business continuity and operate hassle-free. The real-time business reports that were open securely and privately enabled them to be compliant and prevent any accidents and backlogs.

Over the last few months, Tally Solutions has also been at the forefront of supporting the value of self-regulation for start-ups and small and medium enterprise areas in the GCC region. The company collaborated with several trade associations and entertained multiple webinars for the benefit of SME business owner in the UAE, Bahrain and KSA. 

They collaborated with Unicommerce, received an event of Economic Sustenance Regulations, along with multiple segment-specific events to address the needs of respective segments about business growth. It also conducted a workshop with members of ICAI on audit capabilities of Tally, which was followed by over 300 CAs and workshop for students and affiliates of ACCA to train them of the product.