Bangalore-based Peutronics Pvt Ltd has set up a 100%-owned subsidiary in the UK. The company is one of the first from India to launch an accounting package. Peutronics, whose package is called Tally, will invest $ 214,000 in the new subsidiary in Wimbledon, South London, to be known as Peutronics (UK) Ltd. The company will cater to the European, African and UK markets. Tally, which has been Year 2000-compliant since 1998, is used by several organizations in the UK for maintaining lease payments that extend for 25 years or, well into the next millennium. Tally’s main strength is simple accounting without codes.
