Your company has developed a browser-based web application for managing finances, the name of the product is Wallit.
In this module you will learn about business planning, covering also the following topics:
Analyzing planned and actual data
Starting development projects
Cash flow in practice
Different conditions of payables and receivables; managing VAT
Understanding working capital
Unexpected business events with the accounts receivable
Your fintech application, Wallit was created to help its users track their incomes and expenses. With the help of the software, the regular expenses will be transparent, and users will be able to save money with expense-control. Your app is available online through a website, and works in a monthly subscription basis.
Your company started a few months ago, when it received capital from an investor, but the money is running out quickly, currently you have € 236 921 in your account.Good news is that the software is already ready, and the service is up and running. The company also has some income now through its subscribers.
Your goal is to explore new markets and grow your subscription base, plan your costs and incomes, and manage the company to success. It is important to constantly develop your application, to provide an ever improving product in the market.
There are similar products on the market, with whom you need to compete for the subscribers.
Your company's marketing development made a preliminary market research, which shows that users pay around 3-5 EUR a month for a product like this, but maybe it is worth trying to sell it on a little higher price.
The management staff will visit and inform you from time to time. At the end of each month, you can review corporate statistics, and analyze data to determine the actions of next month.