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Tally offers free insurance cover for small businesses

Our Bureau

Bangalore , Nov. 7

TALLY Solutions Pvt. Ltd, an accounting software company, has come up with a free insurance offer to its customers in the small businesses purchasing the Tally 7.2 version. It has tied up with ICICI Lombard General Insurance to extend the limited period offer, aimed at expanding its new product.

Mr Bharat Gopalakrishnan, President, Software and Services Group, said on Monday that Tally would provide insurance cover worth Rs 5 lakh, which includes fire, burglary and cash-in-safe insurance. The offer is valid till December 15.

The software covers accounting solutions for complete book-keeping, value added tax, service tax and tax deduction at source compliance and a host of other features useful to the SMEs. Tally 7.2 was launched in March.

Mr Gopalakrishanan said the company hoped to launch modules of accounting software in the next six months. The modules would cover excise, payroll, job costing and point sales.

Tally also plans to bring out its software in non-English languages soon.

He said the arrangement with ICICI Lombard was made following a research that only 11 per cent of the tiny and small businesses had insurance against property damage.

Almost none had insurance against burglary or money losses.

Thus, the value proposition offered could benefit both Tally and ICICI Lombard, he added.

Tally, which had revenues of Rs 222 crore during fiscal 2005, hopes to sell about 50,000 licences of its new 7.2 version during the period of free insurance offer.

Mr Rangarajan R., Director, ICICI Lombard, said the initiative would be supported by ICICI Bank's contact centres across the country to serve the needs of Tally Solutions' customers.

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