Tally Solutions launches solution to help faster access of funding to SMEs

Tally Account Aggregator Services Pvt Ltd, promoted by Tally Solutions, has announced the launch of TallyEdge a solution which allows users to consolidate all their financial information from various financial entities in one place; with the capability to view or share that information securely, in real-time and only with their consent. The company is targetting the vast base of SMEs in the country – specially in the state of Maharashtra – to facilitate easy access to the lending ecosystem and other financial services for these MSMEs. The solution has been launched under the provisions of account aggregator framework introduced by the RBI in 2016. Industry projections indicate a significant credit gap of 25 trillion in the nation, with Maharashtra registering the highest debt demand at 20%. Tally aims to sensitise the MSME ecosystem and raise awareness about the benefits of AA, to mitigate this credit gap. Lenders will be able to access most aspects of financial information including bank statements, of the MSME borrowers and make their lending decision quickly, the company said.
Samir Dixit, General Manager – West Zone, Tally Solutions, “As a key player in the Business Management Software (BMS) sector, we currently hold a 75% market share in the country and Maharashtra plays a significant role. With TallyEdge, our goal is to further extend our support to MSMEs facing challenges in accessing formal lending. In Pune, we are set to organize a series of awareness sessions in partnership with our allies and industry bodies in the coming months to promote an in-depth understanding of the AA framework and its potential for businesses”.
“With our commitment to further augment the MSME ecosystem, we aspire to onboard nearly 20 lakh businesses in India onto TallyEdge within the next 3 years. TallyEdge provides users with comprehensive control over their data, allowing them to effortlessly approve, reject, pause, or revoke any data-sharing requests. We are confident that through TallyEdge, we will not only strengthen the account aggregator ecosystem in the region but also empower more MSMEs to achieve their growth vision”, added Mr. Vikas Shetty, General Manager – Financial Service, Tally Solution.