DBS Bank and Tally partner to bring GST-enabled connected banking to SMEs

|July 27, 2017 0
Image courtesy of Stuart Miles at freedigitalphotos.net

BANGALORE, INDIA: DBS Bank India and Tally Solutions have partnered to launch a first-of-its-kind connected banking platform to enable convenient GST payments and accounting processes for SMEs.

The solution available to DBS Bank’s SME customers on the GST-ready version of Tally ERP 9, allows management of GST and supplier payments entirely within the ERP.

With a single login, SMEs can make payments, track payment transaction status and automatically send payment receipts, along with suppliers’ invoice details.

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Niraj Mittal, Managing Director and Head of Institutional Banking at DBS Bank India, said, “For the first time, Tally users have the opportunity to digitise 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 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.

Through this integration, its SME customers can enjoy a host of benefits, such as:

Connected Bank: e-Payments can be sent from the Tally platform to DBS Bank in a single click

Easy Tracking: Payment status and transaction references can be tracked on a single dashboard in Tally

Instant Approval: The DBS Bank IDEAL mobile app offers approval on-the-go

Automated Advice: Vendors can be kept informed with automated transaction advising

Security: The highest standards of encryption are assured while making and approving payments

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