‘For MSMEs, data is what keeps cash flows moving’

While digital transformation is gaining traction among micro, small and medium enterprises (MSMEs) many still rely on paper-based processes.

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“Going digital is no longer optional — it’s essential,’ says Tejas Goenka, MD, Tally Solutions.Decoding the digital challenges, he speaks to Sudhir Chowdhary on the recent innovations in their accounting software—TallyPrime— and how it is simplifying digitisation for MSMEs. Excerpts:

How are MSMEs embracing tech or is something holding them back?

The shift MSMEs need to prepare for is not just speed, but integration without disruption. The core challenge will be how different systems, be it banks, payment platforms, compliance networks, and business management software, connect with each other while still allowing businesses to operate in the way that works for them. In the coming years, MSMEs will rely on technology that can integrate across multiple banks, platforms, and data formats, while respecting the nuances of how every business manages its accounts, inventory, and transactions.