Personal finance/expense management solutions are raining these days (a sign that says recession is over?) – we have covered quite a few of them and the latest to catch our attention is Beezang.
Beezang is a group expense management solution that helps you manage and keep track of expenses you share with friends, colleagues and roommates.
The product, ideal for students/working bachelors also lets one track debts/loans with friends and share bills.
Integrated with Google/Yahoo login, Beezang lets you add your friends under different groups based on your association (for instance ‘apartment friends’ vs. ‘office colleagues’).
The simplistic product lets you add category, assign a bill to category and view expense reports.
While the product is interesting, the challenge for the team lies in differentiating this with other products who offer much more than this (though smart marketing can make it darling of college campuses).
Moreover, a facebook/orkut app is the need of the day.
What’s your opinion?
Question to the team – Is this a Feature or a Product? If not now, they will need to answer this question in future.