Managing expense is a discipline and very few get it. Sometimes its the lack of an intuitive tool that inhibits one to use expense tracking mechanisms.
Onyem is a newly launched startup that helps you track money. To get started, you need toadd bank detail (no account number – you just add the amount you have in your bank) and keep adding expenses as you spend your money.
Expenses can be categorized under different sections – you can add different categories as well – same with income categories.
There was a similar service called 11rupees, (also a finalist at TiE-Canaan event) – but was never launched! The core issue with some of these mint-like service has been integrating with bank accounts (bureaucracy+ lack of API etc).
Manage money online using Onyem
Onyem solves this challenge by asking you to manually enter the account balance – even though you are tracking virtual money,system will take care of real expenditures (users can also upload HDFC bank statements for auto generation of the statement).
Give Onyem a spin and share your comments.
Nice … was expecting to see something like this…
Onyem has lot of ground to cover, they should take quite a few tips from Buxfer.
Hi Tamal,
Try out Perfios and let me know what do you feel.
Aditya (adi@perfios.com)
Check out myirisplus.com
MyIrisPlus 2.0 is good but is not available in web mode
To call this “mint-like” is a joke! Have you ever used Mint? This is just an excel sheet with fancy graphs. This will fail for the same reason any Excel sheet tracker fails – users don’t want to input all these details. They want the service to bring them in automatically.
But mint is so targetted at the US market that as an Indian I cannot use it. And so the best option right now is to manually enter some details. You can upload bank statements for partial automation though.
Exactly… India is a huge market and way too advanced now in Internet Banking also. We do need some finance website like mint…
But these kind of financial services won’t get easy penetration into Indian market because mint like service means sharing internet banking details and that is the tough decision to make as we have to believe on the website and our cyber laws to tacke data leaks are not so strong yet…
Personally I like Microsoft Money… It has everything, except linking internet banking, but who cares…
Check out http://www.perfios.in/
This site does have integration with some banks to automatically pull all your transaction details from your bank account. I tested it and it was able to pull all my transaction details from my ICICI bank account without any issues.
The only downside is that it does not automatically categorize my transactions like Mint does.
Hi VN,
Thank you for your comment, do expect Auto Categorization very soon at Perfios. We are also working on Statement upload and document attachment.
regards, Aditya
adi@perfios.com
What about SMS upload of expenses?
Hi Adi,
How about including budgets (setting up a budget and comparing it with actual) like the ones available with Artha money.
Hi,
You should actually try Perfios – its what mint does and more! you can say like a mint for India only ! Please explore and let me know of your feedback. I head the sales & marketing for Perfios, i look forward for your comments and suggestions – adi@perfios.com
what’s new this is already offered by moneycontrol, economictimes and all fin sites
Hi Abhishek,
Perfios is totally different from moneycontrol, economic times etc. Perfios gives a 360 degree overview of your portfolio, gets all your transactions auto updated. It includes savings banks, MF, equity,credit cards, loans, insurance, FD etc…..anything that a person would have under his finance umbrela! you can even forward (email)your MF/equity/bank statements that you regularly receive on your inbox to statement@perfios.com and Perfios will automatically update your accounts! Tons of more feature available….write to me and I can talk more …. adi@perfios.com
Hey Abhishek J, it looks like Onyem is meant for Personal Finances, the Sites you mentioned seem to be portfolio managing softwares, economic times does it too?
looks like market needs plenty of education. lolz.
I like perfios as I am able to upload my financial statements – the hard way. The easy way is to provide my I banking password (which I dont want to).