Table of Contents
Summary: In this blog post, we explore why businesses are switching from Tally to NetSuite ERP and examine the pros and cons of both software solutions.
Making a switch from Tally to NetSuite ERP seems like a mountain to climb, but considering the benefits, especially in scalability, efficiency, and advanced capabilities, it’s worth the journey.
So, let’s find out why Finance businesses are migrating their business system from Tally to ORACLE NetSuite ERP.
Key Reasons Why Businesses Migrate from Tally to NetSuite
Adopting NetSuite positions businesses for sustainable growth and innovation, ensuring they remain competitive in an increasingly digital and globalized economy.
- Post-COVID, the finance industry’s growth emphasizes the need for robust business management solutions. Tally lacks scalability, while NetSuite excels with advanced features to support efficiency and business expansion.
- Unlike Tally, NetSuite ERP is a true cloud-based ERP solution. This means employees can access critical financial data from anywhere, at any time, using any device with internet connectivity.
- Tally primarily focuses on accounting; however, NetSuite is a one-solution comprehensive business intelligence solution that serves intelligence for various business processes.
- NetSuite has built-in AI to automate the manual process of entering data and completing other time-consuming tasks. NetSuite automates complex processes that would require extensive manual intervention in Tally.
- While Tally gives limited customization options, NetSuite provides extensive configuration capabilities. This enables businesses to adapt the system to their specific requirements without costly custom development.
Pros and Cons of migrating from Tally to NetSuite ERP
To meet their financial needs, businesses seek dependable and feature-rich accounting software. Accounting software can redefine the operations of a business, especially if it integrates seamlessly with other systems and offers advanced automation capabilities.
Tally is an effective tool for accounting, but its limitations make it unsuitable for keeping up with the dynamic needs of modern businesses. However, NetSuite, a cloud-based accounting software, can adapt according to changing business needs.
Before taking the plunge into choosing NetSuite accounting software or Tally for business management, business leaders and C-level executives should consider the pros and cons of both.
Pros of NetSuite
- A true cloud solution that provides unlimited scalability to help a business with zero disruption.
- NetSuite has an embedded AI across the suite, helping companies to attain growth through more productivity.
- Eliminate data silos through a unified database through which all departments can access up-to-date information instantly for better decision-making.
- A cloud-based business management solution that covers marketing, sales, customer service, finance, accounting, and other core operations.
- Built-in business intelligence that delivers business intelligence through a single source of truth.
- Enables unlimited integration with eCommerce, logistics, and 3rd-party platforms to boost productivity.
- Secures user data through encryption, role-based access, and multi-factor authentication.
Cons of NetSuite
- NetSuite is a bit expensive for small businesses operating within tight budgets or managing limited financial resources.
- Comprehensive training is required to use NetSuite correctly and unlock its full potential.
Pros of Tally
- Easy to use with a shorter learning curve for accounting tasks.
- Support Indian GST and compliance, and taxation requirements.
- Enhance security management that allows the creation of multiple security levels, defines user-level rights, and much more to keep your data safe & secure.
- Businesses can organize their inventory by defining it into batches and categories.
- Get 360-degree insights into your business with business reports.
Cons of Tally
- Integration and customization capability is limited.
- Limited scalability (as it is available on the premises).
- No real-time data sharing.
- Lacks a unified database.
- Primarily focuses on serving as software for accounting.
- Limited automation via AI.
Considering the pros and cons of NetSuite and Tally, the former proves to be a more robust solution for fostering sustainable growth and driving operational efficiency.
Benefits of Switching from Tally to NetSuite ERP
Relying on an on-premises system with limited capability is like trying to fit a square peg into a round hole. Survival in the current competitive landscape is impossible with an outdated system that fails to offer automation and cloud features, let alone achieve growth.
The following reasons suggest why modern businesses should migrate from Tally to NetSuite.
- Unlike Tally, a comprehensive solution available on-premises, NetSuite is a true cloud solution. It provides real-time data access to the users and increases productivity.
- While Tally focuses on accounting, NetSuite is an all-in-one platform to complete marketing, sales, accounting, HR, and other core business operations to reduce inefficiency.
- Tally has an AI, but its capability is limited and is a weak link in the chain for businesses striving for growth. Alternatively, NetSuite has a built-in AI to enhance automation to increase productivity.
- Tally is suitable for small businesses with limited financial resources and operations. However, NetSuite grows with business operations due to its unlimited scalability feature.
- Tally users struggle to keep pace with ever-changing business needs as it is not scalable. On the other hand, NetSuite offers integration capability to enhance collaboration and productivity.
- NetSuite provides businesses with tailored solutions to match the specific requirements of a business. It provides greater flexibility compared to Tally’s limited customization options.
Conclusion
The question now is: How can businesses address the challenges of migrating data from Tally to NetSuite ERP while ensuring accuracy and efficiency?
To streamline the migration process, consult inoday, a NetSuite Channel Partner, that delivers economical and reliable services for transitioning from 3rd-party apps like tally.
