Sharing accomodations and expenses, is a way of living for most of the foreign students and legal workers from other countries in US. The trend is picking up in other countries as well. The worst part of staying in a group, is to maintain the bills and expenses. Usually each and everyone has turns to maintain bills and expenses. (Thanks to Microsoft Excel). The bills are given to the person who is handling the expenses and acts as the admin to maintain the same. The task is always hectic and being monetary many a times the admin comes into scrutiny for even small mistakes.

 Now here is an automated Expense Management System Gyaati.com, which has been developed based on Web 2.0 concepts and open sourcing. The whole system is developed keeping in mind the needs of people who are sharing expenses aka accomodation but find it difficult to maintain and track the expenses. The system solely works on Social Networking (Or Can we term as Partner networking), where each and every user would register to the site and form a group (People who are sharing the expenses) in the same.

 Any expenses by any one in the group, would be sent as a email notification to the other member of the group, for their approval. Once the Transaction is approved, the monetary transfer would be performed in person by the group members. Site provides the group members with tracking, based on approved, approval pending. And ofcourse a tab to Create aka logging in the expenses. One person, can be a part of many groups (One for accomodation sharing, One for Car pooling, one for Weekend Outings etc etc.). The expense sheets and data would be available only for the members of the group. Atmost care has been taken for even transaction types. Like equal splitting or different expense split among members. The second one usually comes in Hindu community when some members of the group have Non Vegeterian and some not.(Usual Problem I face :)) ). The other feature includes leaving messages for partners. Remember the stickies on the walls.

 The system is developed direct outta the developers experiences :)). The idea is crisp and not with loads of plugin’s. I am still surprised how Eric Schmidt, is still unaware of this.(Just couldnt get this site on Page Ranking.). Technically speaking, though overall looks of the page is above average, but the functionality it covers, with least navigations is just par excelence. The base system is ready, the site could be plugged in with loads of other functionalities, like direct online transfers (Which would require aprroval from Credit Bureau & banking forums, or MOU with Walmart, Circuit city, Food Max, Reliance Retails (Buying in a group would be beneficiary for discounts). The back end data can be used to generate consolidate data on spending reports, which could be the base data for Spending Trends across globe. These data would be aboon for Market and Trend Analysts.

 What team needs is marketing and page ranking and ofcourse some showcase by Silicon Family firms.

Bookmark this post to:

Most Commented Posts

• Be a BIG part of the next BIG thing! Join WAT!
• Now Women Meow On FM Radio!
• Salman Khan Joins Bollywood Brigade Of Bloggers.. Starts Blogging On Dus Ka Dum Blog!
• Pulsar Mania goes Viral
• Matrimonial shoot-out: Shaadi vs BharatMatrimony vs JeevanSathi vs SimplyMarry