The main purpose of the product is to provide a single, seamless platform for users to be able to manage and oversee the multiple subscription accounts which today’s average user has.
The most important feature to any product is reducing the customer’s effort, or addressing, easing, or eliminating the customer’s pain points. As mentioned, the customer's main concern was updating, managing and possibly customizing this experience.
The biggest challenge in automating the management of subscriptions lies in communicating and liaising between the customer and the service provider(s). Hence, to address this, a contract with various, popular service providers is being established. Customers will be able to browse through all available options or plans. They will be able to simultaneously know if they are eligible for new discounts, plans, etc. Additionally, this will enable the product to cancel, upgrade, downgrade, renew contract and update their personal contact information through a single platform seamlessly, for all their subscriptions.
Since all these subscriptions form a part of recurring monthly expenses, it was found that the customer would prefer to get an overall monthly expense snapshot to understand and analyze their finances more efficiently. This feature allows the customer to observe the trends through customizable dashboards based on categorization of the expenses, individual expenses and based on different time durations as well.
To keep the process secure and standard, customers are asked to upload bank statements in PDF through the mobile app or website. Customizable payment options As customers possess different modes of payment, credit and/or debit, company/work related separate financial accounts. In case of a family, customers might want to use a spouse’s account, etc. To provide flexibility to the customer in choosing different mode(s) of payments, payment mode for each expense and/or category is customizable and can be changed between billing cycles.
Trial app notifications will help customers cancel the auto-renewal of services which they no longer want to continue with by informing the customer a stipulated time before the trial ends. The notification timing is customizable for the customer as well.
For safety purposes, a new user can sign up only through their smartphones, leveraging the fingerprint or face recognition feature. This feature is important in identifying the customer for security purposes as well as verifying the basic contact information like the phone number before signing up a new user. This feature will also be leveraged for first-time sign in to the website as well as future security issues.
A more detailed financial analysis can be done based on the data availability by segregating the data based on household types as given above. Figure below shows the contribution by types of households in different subscription categories
