DBS Bank and Tally partner for enabled connected banking for SMEs

and Tally Solutions have entered into a partnership to launch a connected banking platform to enable convenient GST payments and accounting processes for SMEs, said Tally Solutions

Must Read

How to choose an effective DDoS mitigation plan

There are several flavours from which to choose when selecting an effective DDoS mitigation strategy. Most enterprises opt for one of the cloud protection flavours (always-on or on-demand)

How tech bolster security of online gaming platforms

The rise of online gaming and is evident throughout the world’s financial capitals with the UK, US, and a few other European nations at the forefront

Explained: The evolving nature of cybersecurity threats

Concerns such as hacking and the presence of computer viruses have existed for decades in one form or another. As technology evolved over the years, so did the cybersecurity  threats themselves.

DBS Bank India and have entered into a partnership to launch a connected banking platform to enable convenient GST payments and accounting processes for SMEs, said Tally Solutions. According to Tally, the connected banking solution available to DBS Bank’s SME customers on Tally software allows seamless management of and supplier payments entirely within the ERP.

“This gives Tally users the opportunity to go digital without migrating from their preferred platform. With a single login, SMEs can make payments, track payment transaction status and automatically send payment receipts, along with suppliers’ invoice details,” said Tally Solutions.

“For the first time, Tally users have the opportunity to digitize their tax payment and accounting processes. Our connected banking solution will ease their transition to the new tax regime and bring substantial savings in terms of time and effort. This innovation is a testament to our continuous efforts to simplify banking for the consumer. Given Tally’s leadership position in the ERP software market, this partnership will help us better serve our existing customer base and continue our aggressive growth in the SME market,” said Commenting at the launch, Niraj Mittal, Managing Director and Head of Institutional Banking at .

“We understand the evolving landscape and accounting needs of SMEs in India. We have been working with the regulator to upgrade our accounting and ERP infrastructure, in order to comply with the new GST regime. Our new integrated platform with DBS Bank is an industry innovation that will set a precedent for banking and accounting solutions for SMEs in India,” said Tejas Goenka, Executive Director, and Tally Solutions.

Through this integration, SME customers can get a host of benefits, such as: e-payments can be sent from the Tally platform to DBS Bank in a single click. Payment status and transaction references can be tracked on a single dashboard in Tally. The DBS Bank IDEAL mobile app offers approval on-the-go. Vendors can be kept informed with automated transaction advising.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Leave a Reply

*The moderation of comments is automated and not cleared manually by techobserver.in. Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

Sapience Analytics signs distribution agreement with Redington

Sapience Analytics and Redington said that they have entered into a distribution agreement where latter will resell the Sapience Vue solution through its network of over 30,000 channel partners, system integrators, and value-added resellers countrywide.
- Advertisement -SAP Hana

Related Articles