Bangalore-based business solutions software provider, Tally Solutions (Private) Limited, is betting big on the Indian retail market and expects to “substantially grow” its clientele base in the sector in the next couple of years, according to president Shoaib Ahmed.
“The opportunity for technology adoption is huge in the largely-untapped retail market. With the changing market environment, the need for technology adoption is going to be critical for retailers. And, it will be imperative for them to adopt in such a manner that they will be able to manage stocks and orders, and improve efficiencies in the entire operations to stay relevant in the changing technology landscape,” he said.
Tally Solutions has a clientele base of around 1 million, of which close to 100,000 retailers use its generic accounting and inventory management version, while 15,000 use Shoper, an enterprise retail software product that Tally acquired in 2005.
Announcing Tally’s collaboration with MartJack, a digital commerce solution developed by Hyderabad-based Reasoning Global eApplications, for seamless technology integration and joint marketing activities, Ahmed said India’s retail market was expected to cross $1.3 trillion by 2020, from the current size of $500 billion.
“Further, modern retail is expected to grow about six times from the current $27 billion to $220 billion across all categories and segments, calling for greater synergy between traditional brick-and-mortar and multi-channel models,” he added.