Tally expects 30-40% revenue growth in FY25; to expand overseas footprint

Bengaluru-headquartered company also has training and skilling vertical, Tally Education and Distribution Services, which partnered with coaching centres and institutes to train youth to be job-ready

Homegrown accounting software firm Tally Solutions looks to expand its footprint in the Middle East, Southeast Asia and Africa and expects revenue growth of 30-40 per cent this financial year, a senior company executive has said.

"Currently, we provide accounting software solutions mostly to the Micro, Small and Medium Enterprises (MSMEs) and are growing at 20-30 per cent annually. We expect revenue growth of 30-40 per cent in 2024-25," Tally Solutions Managing Director Tejas Goenka told PTI.

Further, Goenka said that the company currently has a limited presence in Africa, the Middle East and Southeast Asia and is planning to expand going forward.

"We are present in Kenya, Indonesia, the UAE and Saudi Arabia. We think there is a huge potential to expand in these three geographies. We are working on a long-term goal on the expansion and we try to be very aggressive. We aim to win the market with businesses thinking of us as the go-to brand," he said.

The company, which enjoys a 70-80 per cent market share, is continuously working on innovations and expects to maintain the current market share going forward, he said.

"We continuously work on innovations and we customise according to a particular business requirement. The main challenge we face is pirated software. We expect to convert a lot of the pirated users to licensed users. Plus, there are many new businesses coming up that are automating.

"So the market pie is growing. So our growth will come from both maintaining the share in the growing market as well as converting the pirated to legal," he added.

The Bengaluru-headquartered company also has a training and skilling vertical, Tally Education and Distribution Services, which has partnered with coaching centres and institutes to train youth to be job-ready.

"For training and skilling, we collaborate with coaching centres and also participate in state and Central government projects. We have also partnered with colleges to introduce Tally in their curriculum. Last year, we issued certificates to 2.5-3 lakh students on Tally. We expect to see a growth between 35 per cent and 45 per cent in the number of students trained this year," Goenka said.

When asked if the company is planning to extend the skilling and training vertical overseas, he said, Tally Solutions is considering the matter.

"As we are expanding our footprint overseas, we are getting a lot of enquiries from colleges and training centres from a few African markets for skilling their students in Tally and the Middle East. It is difficult to comment on the timeline for this at this point, but we should see some good progress over the next 2-3 years," Goenka added.