DBS Bank, Tally offer GST-enabled connected banking solution for SMEs

NEW DELHI: DBS Bank India and Tally Solutions have entered into a ​partnership to launch a first-of-its-kind connected banking platform​ ​to enable convenient GST payments and accounting processes for SMEs.

The connected banking solution, available to DBS Bank’s SME customers on ​ ​the GST-ready version of Tally*, allows seamless management​ ​of GST and supplier payments entirely within the ERP. This​ ​gives​ ​Tall​ ​yusers 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.

Commenting at the launch, Niraj Mittal, Managing Director and Head of Institutional Banking at DBS Bank India, said, “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.”

“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, Tally Solutions.