Online Money Management and Personal Finance Management are two very new avenues in India. And taking advantage of this, Intuit has launched an all new online money manager titled as the Intuit Money Manager. This web based tool is the company’s first financial software product developed specifically for consumers in India.
The Intuit Money Manager has features that let you plan, track and grow your money. All you need to do is just take out 5 – 10 minutes daily out of your schedule and every week. The product helps you manage all your bank accounts at one single place. As of now the Intuit Money Manager supports over 15 Indian banks from which you can Import all your transaction and bank details. After having all your expenses and earnings at one place you can analyse your spending habit in a better way.
The Intuit Money Manager comes to you for a price of One rupee a day. Of course, you will be charged only after you exhaust your initial 90 day free trial period. Well, there was a recent news of Intuit acquiring Mint.com which is a free money management tool. So we had a doubt about why the Indian customers are being charged for the services of Intuit Money Manager.
Regarding this, we got to talk with Mr. Vidyut Srinivasan who works on PR and communication with Intuit in India and he clarified a lot of things about the product details and offerings of the Intuit Money Manager. Here is a gist:
* Intuit Money Manager is different from our other offerings with different value propositions for the markets they serve.
* In Intuit Money Manager, all the features are new and unique to serve the needs of the Indian consumers. These include:
a. Provision for cash management
b. Income Tax Optimization based on tax laws in India
c. End to end portfolio management for different financials instruments including equity, stocks, mutual funds, bullion, insurance etc.
d. Integration with specific Indian bank accounts
e. Customized pre-defined categories that are common among Indian consumers.
Detailed listing about the features of the Intuit Money Manager can be found here. Here is a screenshot that shows you how all your expenses are arranged in a bar chart and graphs, as shown below:
The Intuit Money Manager is really a good offering from Intuit that helps you save on your expenses. So far so good. But what about the customers? The Money Manager thing is actually targeted towards those consumers who understand the risks of online banking. What about the one’s who think Online Banking as something one should not do. Given the current scenario, it might take some time before the Intuit Money Manager actually makes to every household.