Homegrown enterprise software maker Tally loses heavy hitter Shoaib Ahmed

Jayadevan PK January 6, 2017 1 min

Homegrown enterprise accounting software company Tally has lost a heavyweight this last week. The company’s president, Shoaib Ahmed, has quit to startup on his own.

Ahmed, has been instrumental in building the company’s sales and marketing efforts, which is seen as a success story in selling to Indian enterprises. The company says its software is used by more than 10 lakh Indian businesses.

Tally is one of the few homegrown companies that have broken into the Indian small and medium enterprise market. Though there are millions of SMBs in India (over 50 million), most of them don’t buy software products.

In an e-mail to employees on Wednesday, Tally’s co-founder and managing director Bharat Goenka said:

“In recent times, he has been closely looking at individual organizations struggling to get the technology rubber to hit the roads of their business operations, and has been itching to correct this problem systematically. He therefore, incubated Catalystor – an enterprise with the intent to make technology effective for businesses, and which he is now devoting 100% of his time to.”

Tally, meanwhile, has new competitors like Intuit. Piracy is also a major problem for the software maker.


               

Thank you for reading FactorDaily

We hope this story worked for you.

Our journalism is produced by some of the best brains in the story-telling business who believe that good stories have only one master: you, the reader. Bringing these stories to you, just so you know, costs us a pretty dime even as the context of disruption remains unchanged in the journalism business the world over.

If you like what you read here, consider supporting the FactorDaily journey. We don’t have a paywall because we believe access to good journalism must be free to all, especially when it is in public interest and informs citizens with independence and accuracy. Such stories should not be restricted to a few who can pay. You are free to support us with any amount you like. 

Please note that 18% of your contribution will be paid to government as GST, per Indian accounting rules.


Disclosure: FactorDaily is owned by SourceCode Media, which counts Accel Partners, Blume Ventures and Vijay Shekhar Sharma among its investors. Accel Partners is an early investor in Flipkart. Vijay Shekhar Sharma is the founder of Paytm. None of FactorDaily’s investors have any influence on its reporting about India’s technology and startup ecosystem.