/monetum

Primary LanguageJavaScript

Monetum

Problem Statement

In today's fast-paced and digitally-driven world, an app for automatically tracking expenses offers convenience, efficiency, and accuracy. With such an app, users can easily log and categorise expenses on the go and instantly review their expenditure. It provides a centralised platform to monitor one’s finances to subsequently make informed decisions. This in turn helps achieve long-term financial goals, promotes better money management and reduces the risk of overspending.

Main Features

  1. Expense tracking based on sms parsing per digital transaction.
  2. Consists of charts and graphs to help comprehend spending data easily.
  3. You can also manually enter/alter expense information, for ex.: adding category of transaction for personalised organisation.
  4. Using OCR we will be able to recognize text on receipts to add upto your expense list.
  5. Spreadsheet view for a list of all transactions.

Advantages

  1. It's automated, making it more user-friendly and accessible!
  2. It offers you real-time expense tracking
  3. We display information with the help of graphs to make it more understandable and user friendly
  4. It's completely offline, making it more secure!
  5. We have a very user-friendly and intuitive interface

USP

Our app is different because of automation. Other expenditure trackers require you to manually enter in your transactions. We on the other hand automate most of that but we will also provide the ability to manually enter your transactions in case we miss any or in the case of physical transactions.

Scalability

Creating profiles and implementing splitting mechanisms for more centralised financial services.

Scope for Improvement

Localization: Expand the app's reach by offering localization options, such as language support and currency conversions, to cater to users in different regions. Enhanced User Experience: Continuously strive to improve the app's user interface (UI) and user experience (UX) to make it more intuitive, visually appealing, and user-friendly. Gather user feedback and conduct usability testing to identify pain points and areas for improvement. Advanced Data Analysis: Explore ways to offer more advanced data analysis and insights to users. Consider implementing features such as trend analysis, predictive analytics, or personalized recommendations based on spending patterns.Using user data only with their permission.