Are You An Owner Of A Building Material Business? Here’s How TallyPrime Can Accelerate Your Growth

• Salient features of TallyPrime
• TallyPrime for guaranteed growth

TallyPrime is trusted by more than 2 million MSMEs across the globe because of its effectiveness, automation, security, and the plethora of useful features it offers. Being one of the most advanced business and accounting software solutions, TallyPrime can turbocharge your building material business by improving processes, accelerating operations, and propelling activities that matter to your business for better results. Whether you are a start-up who has just launched your business, or you are a medium-sized business that has been in operation for a few years, TallyPrime caters to your growing needs.

Salient features of TallyPrime

Invoicing

Invoicing is the basic need of any business because it lets you keep track of all the business transactions that have taken place. When running a building material business, you want to track all the payments received or those that are pending. The invoice is proof of the transactions for the buyer and the seller.

You can create professional invoices using TallyPrime and you can customize them as per your business requirements. You can add a logo, select from a range of business addresses, and so on so that every invoice is exactly how you want it to be. The software supports multi-currency and multiple-price when generating invoices.

Online Business Reports

For any business, having quick access to reports is a crucial factor to improve decision making. With TallyPrime’s 400+ reports, you can get a 360° insight into all crucial business aspects. TallyPrime’s intuitive “Go To” feature allows you to easily search for any business reports, thereby improving your business efficiency. What’s more? With TallyPrime you can now access all your business reports from mobile or any device, from anywhere seamlessly.

Payroll management

As your building material business grows, you will need to opt for a payroll management system if you don’t have one already. But if you choose TallyPrime, you get the payroll management aspect with the rest of the software so you don’t need to purchase it separately. You can easily do a lot with TallyPrime such as group employees by department or work.

TallyPrime is flexible when it comes to managing payroll. You can also define and quickly process the payments to your employees. Processing payroll with TallyPrime is one of the easiest tasks you can perform.

Inventory management

Inventory management is critical to building material business success because you want the ability to track all your building materials in real-time. TallyPrime has an embedded inventory management system whereby you can carry out simple and complex tasks with ease. You can even have more than one product line and manage it with ease.

TallyPrime’s re-order level enables you to maintain stocks so that it automatically re-orders items when the level drops under a certain level. It also comes with job work and job costing features so every cost is accounted for and you can work towards decreasing costs for particular tasks. You also get warehouse management, godown management, and more with TallyPrime.

Credit and cash flow management

Building material businesses need to manage their cash flow and credit. Experts advise that doing so regularly ensures you are on top of your finances. Think of it as ‘a stitch in time saves nine’ because credit and cash flow must be continuously monitored. If this is not done, then your business will suffer and it can affect your operations before you know it. TallyPrime provides thorough management of cash flow and credit.

TallyPrime provides ageing analysis whereby you can check the pending bills. Perhaps a business promised to pay you two months ago but there is no news from them. Or perhaps someone owes you for the past year. TallyPrime provides insight into your cash flow, thereby allowing you to follow up so that you get those bills paid by those customers. TallyPrime also comes with credit management as you can set credit limits based on your customers.

Business reports

Did you know that you can generate over 400 reports with the help of TallyPrime? You can generate accounting reports such as bills receivables, financial reports such as ratio analysis, management control reports such as a budget report, and inventory reports such as movement analysis. These in-depth and insightful business reports give you the level of detail you want.

Do you want to perform a thorough analysis of a business aspect such as a particular stock? Or do you want a general report of your inventory? You can get both from TallyPrime. TallyPrime lets you in the driver's seat and you get to decide the details and what the report should have. The accurate business reports ensure you have reliable reports that you can trust and make decisions that can change the course of your business. 

Cost control and analysis

During certain times, you can expect delays which can add to your costs as you have to store the building materials for longer than you had originally planned. Unexpected expenses can lead to costs being incurred. As a business, you want to prevent it when possible or control the damage before it is too late. TallyPrime helps you with business forecasting.

Using business forecasting, you can plan your business’s financial activities better. You can run scenarios and get an idea of what results you can expect. TallyPrime also allows you to set budgets and see how far you were from them so that you can plan realistically. The software solution is your way to control costs to a maximum by giving insights that matter and enabling you to think clearly.

Banking

If your building material business suffered in the past due to a lack of automation, then there is good news for you. TallyPrime supports bank reconciliation and that too automatically! The only thing you have to do is to first import the bank e-statement and the software will do the rest for you and let you know if anything needs to be done from your end.

TallyPrime has the cheque management feature which is useful for those with building material business. You can do a multitude of tasks with it. For example, you can view cheques and track certain cheques when you wish. You can even print cheques with TallyPrime which might be needed in some instances. Management of post-dated cheques is another feature available in TallyPrime.

Security

When it comes to security, TallyPrime provides the highest level of it so your building material business data is completely secure. You can use the TallyVault to ensure data encryption and further keep your data safe. You can also define a range of security levels so that your employees have access to only those aspects that they require for working. 

TallyPrime allows you to track all changes made. Whether a transaction was deleted or edited in any way, you will know all about who did it. This audit trail encourages transparency and makes you the business owner aware of all that is happening. You can even compare the various versions side by side for easy analysis.

Other features

TallyPrime gives you remote access with security so that you can access your business data from wherever in Bangladesh (or elsewhere) you wish. You can generate and access business reports from anywhere too regardless of the device you are using. Even if you have branches in more than one location in Bangladesh, it is easy to synchronize the data across these branches.

TallyPrime also enables you to add multiple companies as may be the case when you are operating more than one business vertical. You can break up company groups and generate reports for those. You can also backup data and then restore it to ensure the additional safety of your business data. TallyPrime allows you to add a digital signature to the reports and invoices that you generate for personalization and authenticity.

TallyPrime for guaranteed growth

The building material business is a complicated industry that requires you to be on your toes at all times. There is no space for error and delays as these small issues can cause bigger problems down the line not only for your business but those businesses who depend on your supply. With an intuitive software like TallyPrime, you can grow your business to its full potential and ensure efficiency spills over and spreads to every aspect of your business. TallyPrime is made for MSMEs and so it is simple to learn and use from the first day. You can try today to see how well the software integrates into your business and its various benefits.

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