We checked out billmonk before starting to work on Beezang. What we observed that the product seems to have been neglected ever since its acqusition. For example, their ssl certificate has expired from last two months and nothing has been done about it yet. And there are lot of people complaining about its service quality on their blog and twitter. Our belief is if there are people out there complaining so vocally about a product, its probably because it actually addressed a pain point and there is an opportunity out there.

1. Making entries of expenses: People are lazy and tend to procrastinate on entering bill details. Right now we just have a web interface. But we have worked hard to keep it as simple as possible so that our users won’t need to spend too much time on figuring out how to use the app. We have couple of other features in pipeline that will allow users to make entries via other mediums.
2. Keeping everyone in the group on the same page: On entering a bill, each participant is notified where she stands on the group and with respect to other members. If your room mates or friend knows that this is the amount she owes you, she will herself take the initiative to settle up when the amount becomes significant.
3. Settling up: We plan to integrate with a payment gateway in future to make this step simpler.

We are still in Alpha but our goal is to evolve into a complete solution covering all the three components mentioned above.

We are trying to create a next generation personal finance company focused on provide right and unbiased advice and information which is in addition to the tools and applications. You can do the following:

1. Create your financial plan using a cool web application
2. Do research on Mutual Funds
3. Create and track your monthly budget
4. File tax returns for FREE
5. Read a huge no. of articles of variety of personal finance topics
6. Get your queries answered by experts