Riding high on the buoyant SME segment, Tally Solutions, a leading enterprise software product company, aims to more than double its revenues to Rs 500 crore in the fiscal 2011-12, a top official has said.

"India has a large number of SMEs. These are the potential customers we are targeting for our growth. We are looking at almost doubling our turnover in this fiscal to Rs 500 crore from Rs 210 crore sales clocked in FY11," the company's President Shoaib Ahmed told PTI here.

India is home to over 80 lakh small and medium enterprises (SMEs), which contribute almost 40 per cent to the industrial output.

"We are targeting these SMEs and have upgraded our offerings to help these organisations streamline business processes seamlessly and in a cost-effective manner," he said.

Tally recently launched its ERP 9 version, which has features such as remote access, audit and compliance services, an integrated support centre and security management.

The Banglore-based company has nearly 5.5 lakh registered users across all segments.

"There are 35 lakh SME units that are still untapped.

Tally is all set to handle the growing needs of the SMEs with well execution capabilities, new product offerings, trained workforce and well organisation structure," Ahmed said.

"Our focus is currently on creating a scalable platform, a scalable business model, and a scalable eco-system," he said.

The company closely works with 140 master tally partners and 18,000 tally partners. "To improve businesses of these partners, Tally had decided to allocate 40 per cent as their direct commission," he said.