Plooto vs TallyPrime

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Our analysts compared Plooto vs TallyPrime based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

Plooto Software Tool

Product Basics

Plooto is an automated accounts payable and receivable software that helps its users collect one-time or recurring payments and pay the vendors on time. It can integrate with QuickBooks and Xero. Businesses can reduce AR and AP processes with robust modules like pre-authorized debit agreements, customizable approval workflows and more. It allows payment approvals from the designated person from anywhere. With it, users can eliminate data entry problems and keep a complete audit trail of all transactions.
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TallyPrime is a business management software catering primarily to small and medium-sized businesses (SMBs) across various industries. It offers a comprehensive suite of features encompassing accounting, inventory, taxation, payroll, and compliance management. Prized for its user-friendly interface and robust data security, TallyPrime simplifies financial tracking, reporting, and inventory control. Popular features include multi-lingual support, remote access capabilities, and customizable dashboards for real-time business insights. Compared to similar products, users praise TallyPrime's affordability, strong customer support, and ease of implementation. However, some find its interface less modern and its reporting functionalities less flexible than competitors. Pricing typically falls within the mid-range for SMB accounting software, with options for one-time purchases or annual subscriptions based on the number of users and required modules.

Pros
  • User-friendly interface
  • Robust data security
  • Affordable pricing
  • Strong customer support
  • Easy implementation
Cons
  • Less modern interface
  • Limited reporting flexibility
  • Not ideal for large enterprises
  • Fewer integrations compared to competitors
  • Occasional performance issues
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$25 Monthly
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Tailored to your specific needs
$8 Monthly
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Tailored to your specific needs
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Product Insights

  • Faster Payment Approval: Start approval processes immediately after account creation. Approve payments with a single click for one person or multiple people via the cloud. 
  • Seamless Money Transfer:: Send forms through emails to receiving parties to fill up their bank details and make payments after that. 
  • Automatic Invoice Reconciliation: Integrate with different accounting software. Mark payments as paid automatically after the transfer is complete. 
  • Flexible Payment Options: Provide various payment options. Clients can pay via credit cards or set up pre-authorized debits with an automatic withdrawal feature. 
  • Track Payments: Set up alerts for clients to notify about emails and get faster payments. Create reminders for nearly due or overdue payments. 
  • Network: Add vendors and suppliers quickly. Integrate business payments by credit cards, checks, e-transfers or ACH/EFT into a single platform. Gain real-time visibility into financial data and cash flows and reduce the overall cost. 
  • Security: Ensure the safety of sensitive bank details with its robust security feature. Offer comprehensive protection with the Automatic Clearing House and Electronic Funds Transfer Payment features. 
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  • Streamlined operations: TallyPrime centralizes accounting, inventory, payroll, and compliance tasks within a single platform, eliminating data silos and manual redundancies. This consolidation leads to smoother workflows, improved accuracy, and a reduction in administrative overhead.
  • Enhanced financial visibility: The software generates real-time reports, dashboards, and financial statements, providing up-to-the-minute insights into business performance. This transparency empowers informed decision-making, proactive budgeting, and better financial control.
  • Optimized inventory management: TallyPrime tracks stock levels, monitors product movement, generates purchase orders, and automates stock reordering. This optimization ensures inventory accuracy, minimizes stockouts, and reduces carrying costs.
  • Simplified compliance: The software automates tax calculations, generates compliant reports, and streamlines tax filing processes. This helps businesses stay up-to-date with evolving tax regulations and mitigate compliance risks.
  • Enhanced decision-making: The data-driven insights provided by TallyPrime empower businesses to make informed decisions regarding resource allocation, pricing strategies, inventory optimization, and financial planning.
  • Improved productivity: Automation of recurring tasks, intuitive navigation, and multi-user capabilities boost staff productivity and free up time for more strategic initiatives.
  • Enhanced collaboration: Role-based access and multi-user capabilities foster seamless collaboration across departments, ensuring data integrity and streamlining communication.
  • Enhanced security: TallyPrime safeguards sensitive financial data with robust security measures, including data encryption, access controls, and audit trails. This protects against unauthorized access, data breaches, and financial irregularities.
  • Improved customer satisfaction: Accurate invoicing, timely payment processing, and streamlined customer support contribute to enhanced customer experiences and stronger business relationships.
  • Scalability: The software can accommodate business growth with ease, supporting multiple users, locations, and expanding operations without requiring system overhauls.
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  • Accounts Receivable: Import invoices and minimize authorization time with pre-authorized debit and recurring payments. Track invoices and get information on client payments. Gain complete visibility into pending, completed and new receivables from one place. 
  • Accounts Payable: Automate AP processes and control spending, time and efficiency. Import bills from the accounting software. Get notifications for requesting and receiving approvals. Add vendors, suppliers and billers in two clicks. Automate, route and personalize payment approvals using custom rules. Avoid lost invoices, manual AP tasks and paperwork. Obtain early payment discounts and ensure better cash management. 
  • International Payment: Transfer money within the US, Canada and other countries to run an international business. Make cross-border and international payments with a $9.99 fee. Get competitive exchange rates and manage different payment types on a single platform. 
  • CRA Payments: Make remittances to the Canadian Revenue Agency anywhere and anytime in one click. Facilitate touch-less government transfers with electronic workflows. 
  • Online Check Payment: Ensure faster and safer AP automation through electronic methods and traditional checks. Enable users to set up online payments and manage printing and shipping procedures. Allow automatic reconciliation with physical checks. Provide a complete audit trail of payments. 
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  • Invoicing and Accounting: Create GST-compliant invoices, manage receivables and payables, track expenses, reconcile bank statements, generate financial reports, and manage multiple ledgers.
  • Inventory Management: Track stock levels, set reorder points, generate purchase orders, manage multiple warehouses, track batch and serial numbers, and handle multiple stock valuation methods.
  • Payroll: Calculate salaries, generate payslips, manage employee attendance, track leave balances, process statutory deductions, and comply with payroll regulations.
  • Taxation: Automate GST calculations, generate tax reports, file GST returns, manage e-way bills, and comply with other tax regulations.
  • Customizable Dashboards: Create personalized dashboards to visualize key business metrics, track performance trends, and gain real-time insights.
  • Remote Access: Access TallyPrime from anywhere with an internet connection, enabling remote work and collaboration.
  • Multi-lingual Support: Operate the software in various Indian languages, catering to diverse user preferences.
  • Data Security: Protect sensitive data with multi-level security measures, including encryption, password protection, and access controls.
  • Industry-Specific Features: Cater to the unique needs of specific industries, such as manufacturing, retail, distribution, and healthcare, with tailored features and reporting capabilities.
  • Customization Options: Tailor the software to specific business needs through user-defined fields, report formats, and workflows.
  • Integrations: Connect with external applications like bank feeds, payment gateways, and e-commerce platforms.
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Product Ranking

#187

among all
Accounting Software

#340

among all
Accounting Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

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Accounts Payable Accounts Receivable Banking And Cash Management Budget And Expense Management Financial Statements And Revenue Management General Ledger And Chart Of Accounts Integration And Extensibility Inventory Management Journal Entries Mobile Support Multi-company Accounting And Asset Management Platform Capabilities Project Accounting Reporting And Analytics Tax Management 89 88 93 69 98 100 58 100 77 60 72 82 60 70 62 0 25 50 75 100
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Analyst Ratings for Technical Requirements Customize This Data Customize This Data

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User Sentiment Summary

Great User Sentiment 442 reviews
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88%
of users recommend this product

Plooto has a 'great' User Satisfaction Rating of 88% when considering 442 user reviews from 2 recognized software review sites.

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4.35 (221)
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Awards

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SelectHub research analysts have evaluated TallyPrime and concluded it earns best-in-class honors for Inventory Management.

Inventory Management Award

Synopsis of User Ratings and Reviews

Streamlined Accounts Payable: Plooto simplifies the entire bill payment process, from data entry and approvals to scheduling payments and syncing with accounting software.
Enhanced Accounts Receivable: Plooto enables businesses to get paid faster by offering convenient payment options to their customers, such as credit cards and ACH transfers.
Improved Cash Flow Management: Plooto provides real-time visibility into cash flow, allowing businesses to make informed decisions about their finances.
Reduced Manual Data Entry: Plooto automates many of the tasks associated with accounts payable and receivable, such as data entry and reconciliation, which can save businesses time and money.
Increased Security and Compliance: Plooto uses bank-level security measures to protect financial data, and it is compliant with industry regulations.
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Simplified Accounting: Automates various accounting processes, from invoicing and GST compliance to bank reconciliation and financial reporting, saving time and minimizing errors.
Customizable Dashboards: Offers personalized dashboards with key performance indicators (KPIs) for a quick overview of business health, enabling informed decision-making.
Enhanced Inventory Management: Tracks stock levels, monitors movement, and generates reorder alerts to ensure optimal inventory control and prevent stockouts.
Secure Data Handling: Prioritizes data security with multi-level access controls, data encryption, and regular backups to protect sensitive financial information.
Scalability for Growth: Adapts to expanding business needs with modular licensing options, accommodating increased data volume and user count as the company grows.
Mobile Accessibility: Offers remote access through mobile apps for Android and iOS, enabling users to manage finances on the go and stay connected to business data.
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Limited International Payment Support: Plooto primarily focuses on the Canadian market, with limited support for international payments, which can be a significant drawback for businesses with global operations.
ACH Payment Processing Time: ACH payments through Plooto can take several business days to process, potentially causing delays in vendor payments and impacting cash flow management.
Customer Support Challenges: Some users have reported difficulties reaching Plooto's customer support, particularly during peak hours, leading to frustration and delays in resolving issues.
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Learning Curve: Steeper learning curve compared to some alternatives due to unique voucher entry system and extensive features, requiring time and effort to master.
Limited Customization: Offers restricted customization options in certain areas, potentially limiting flexibility for businesses with unique workflows or reporting needs.
Integration Challenges: Integration with third-party applications can be complex and may require additional development or reliance on third-party add-ons, hindering seamless workflows.
Performance Issues: Some users report occasional performance slowdowns, especially when handling large data volumes or running multiple tasks simultaneously, potentially impacting productivity.
Customer Support: Mixed experiences with customer support, with some users finding it helpful and responsive while others report delays or limited expertise in resolving complex issues.
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Plooto has garnered significant attention for its ability to simplify the often complex world of business finances. Users frequently highlight its user-friendly interface and affordability as key strengths, making it a popular choice for small businesses seeking an efficient accounting solution. The software's comprehensive features, including automated invoicing, payment processing, and international transaction capabilities, further enhance its appeal. Plooto's seamless integration with popular accounting software like QuickBooks and Xero eliminates the need for manual data entry, saving time and reducing errors. However, some users have pointed out that Plooto's initial setup can be challenging, and occasional slowdowns can occur. Security concerns have also been raised, prompting Plooto to continuously improve its safety measures. While Plooto excels in streamlining payment processes and basic accounting tasks, businesses requiring more advanced accounting functionalities or those with stringent security requirements may need to explore alternative options. In conclusion, Plooto is an excellent fit for small to medium-sized businesses seeking an affordable and user-friendly solution to manage their accounts payable and receivable processes. Its automation capabilities and integration with existing accounting software can significantly improve efficiency and reduce manual workload. However, businesses with complex accounting needs or heightened security concerns should carefully evaluate whether Plooto fully meets their requirements before committing. Remember, the software landscape is constantly evolving, so it's always wise to check for the latest updates and reviews to make an informed decision.

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TallyPrime garners praise for its robust accounting features, user-friendly interface, and strong data security. Users appreciate its ability to automate tasks like invoicing and GST compliance, saving them time and minimizing errors. Additionally, customizable dashboards and mobile accessibility are lauded for providing real-time business insights and on-the-go management capabilities. However, some find its initial learning curve steeper than competitors like QuickBooks due to its unique voucher entry system. While its feature set is extensive, limited customization options might restrict flexibility for businesses with specific workflows. Integration with third-party applications can also be challenging, requiring additional effort or reliance on external solutions. TallyPrime's strengths lie in its comprehensive accounting functionalities, data security measures, and affordability compared to similar ERP systems. However, its steeper learning curve and limited customization options might deter beginners or businesses with unique needs. Users considering TallyPrime should weigh its strengths against its potential drawbacks and compare it to alternatives based on their specific requirements and technical expertise.

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