MAM
Tally launches VAT compliant accounting solution
BANGALORE: As the country gears up to adopt Value Added Tax (VAT) from 1 April, 2005, India’s financial accounting company Tally Solutions, has launched its first VAT complaint Business Accounting solution, Tally 7.2.
Aimed at the over eight million establishments in the SME segment, the solution is positioned as the ultimate Accounting Software tool for India Inc encompassing VAT compliance amongst a host of other winning features.
Explaining the initiative, Tally Solutons managing director Bharat Goenka said, “VAT is simple and is aimed at transparency, but the changeover to VAT is a challenge, requiring a clear understanding of rules and compliance norms by the business community and more importantly the trading community. Tally Solutions has driven over 75 per cent of all VAT related education in India via seminars over the last 2 months and we have committed to conduct over 1500 customer event to demystify VAT in the coming weeks.”
Unveiling Tally 7.2, Goenka said, “To make the changeover with simplicity, Tally 7.2 offers the convenience to print state specific Statutory VAT reports. This is an unprecedented move by any Accounting software tool.”
Tally Solutions president Bharath Gopalakrishnan said, “With Tally 7.2, all a user needs to do is ensure the accuracy of all Purchase Invoices and Sales Invoices recorded. Thereafter, at the press of a key, State specific statutory reports, documents and accounts will be directly generated, along with forms. These could then be directly printed for filing Statutory Returns. Tally Solutions has over a decade of experience in countries like the UK, Singapore and a few others where our solution is already handling VAT successfully.”
Tally 7.2 will address all VAT implementation issues such as offering:
· Single software addressing all states’ requirements
· Configurability to handle differences in legislation
· Printing of Statutory reports
Tally Solutions will reach out to its customers through an extended channel arm of over 25000 resellers, enabled, trained and empowered by Tally Solutions to act as Value Added Resellers. By doing this, the company has revolutionized the software product business in India and has consolidated its position as the dominant market player in this space, informs an official release.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
