Kiran Nair, Deputy General Manager - Customer and Partner Marketing, along with Manuraj S, Country Manager for Tally in Nepal, were recently in Kathmandu to participate in Tally’s MSME Honour event. Tamish Giri from New Business Age talked to them to know more about Tally, its operations in Nepal, and its upcoming expansion strategies. Here are the excerpts from the conversation:
Could you please provide information about your purpose for visiting Nepal?
Our visit to Nepal centres around the MSME Honour event. Additionally, we intended to connect with our partners to discuss new strategies that we are coming up with. We do some sort of marketing where we contribute and help them with certain contributions like 50/50 or 40/60 ratio. This ensures that partners are engaged and not overwhelmed by branding tasks.
What was the primary goal of the MSME Honours event?
The core objective of the MSME Honours event was to recognise and acknowledge the contributions of businesses. The event is not driven by any self-serving objectives; rather, it is aimed at encouraging nominations from across the spectrum. The primary goal was to honour the tireless efforts of micro, small, and medium enterprises, underscoring their vital role in driving the economy. Given that 80% of the market is shaped by these enterprises, the aim is to provide due recognition for their significant impact. The objective extends to the continued growth of the MSME Honours, aiming to involve more participants and amplify the recognition for their valuable contributions.
At Tally, our recognition efforts extend beyond Tally users. Of the 10 businesses were honoured, six weren't using Tally at all. While Tally users are acknowledged, we also extend recognition to a diverse array of enterprises not utilising Tally products. This approach received commendation from a guest representing Nepal Rastra Bank (NRB), who suggested collaboration to expand the reach of this initiative. The MSME Honours initiative, which commenced in India, has grown to encompass regions such as the Middle East, Nepal, Kenya, Indonesia, Uganda, and Bangladesh. From three nominations last year to 70 this year, and three winners to 10 this year, it is expanding with every passing year.
Can you elaborate on Tally's recent market performance in Nepal?
Over the past four years, Tally has been seeing 30-40% growth. Despite occasional dips due to factors such as government regulations, Tally's growth trajectory remains resilient because customers prefer Tally as one of their choice of software to maintain the books of account. This is because of factors like getting all-round support and solutions as it is easy to use and implement for any business.
What forms of support does Tally provide to companies?
Tally is committed to offering comprehensive support to its users. Whenever challenges arise during transactions, users can reach out to our partners via a toll-free helpline, chat services, or emails. This commitment ensures that businesses can utilise Tally without any problems.
Looking ahead, what are your predictions for Nepal's future market growth, particularly in relation to Tally?
We anticipate substantial growth for Tally in Nepal in the coming years. While the current growth rate hovers between 15-20%, our plan is to grow by 200-300% growth considering the current opportunity that we have in Nepal as well as our future product roadmap. Moreover, we are coming up with features which will help the manpower business also. So we are looking at 100-200% over the next two-three years.
If you observe the efforts undertaken by the government, there are numerous initiatives aimed at enabling business owners to embrace digital transformation. Therefore, from both a governmental and economic standpoint, as businesses thrive, we will also grow. We aren't saying we will achieve 100-200% just because we want it. If the market grows, 100-200% growth can be realised. For such growth to be sustainable, it must align with market growth. The government's endeavours to stimulate market expansion are vital. Failing to address this aspect would jeopardise our objectives.
Over the past couple of years, the Nepal government has been instrumental in facilitating technology adoption among businesses. For instance, in the previous year, the government allocated over Rs 100 million for system adoption. The government is also pushing businesses towards technology adaptation which is one of the areas where we can maximise our opportunities.
Could you share insights into the new updates Tally is introducing in Nepal?
In the near future, Tally will introduce an upgraded version which will have an interactive dashboard, an expanded import and export file section, and integration with WhatsApp. The WhatsApp integration will enable businesses to conveniently send invoices directly from Tally. These enhancements are set to roll out in Nepal over the next few months.
What challenges do you see in the Nepali market?
Educating businesses and fostering awareness about technology adoption remains a significant challenge. While strides have been made, there is still a degree of uncertainty and reluctance to fully embrace technology. Additionally, the stability of regulatory environments poses an ongoing concern. Some businesses retain hopes that regulations may change, impacting their technology adoption decisions. We are committed to organising regular events that provide insights into the benefits of technology adoption and ensuring businesses stay updated on these matters.