ProExpenser introduces their own Personal Financial Management Program (PFM) and advices its clients on how to handle the newly launched product.
Online PR News – 23-October-2013 – Elkhart, IN – Online monetary management was first introduced in 2006 by Wesaba, a startup back then. PFM, personal financial management software for PCs existed for decades but startups like Wesabe, Mint.com and others demonstrated the potential of using customer and community data to help businesses improve their grasp on their finances.
The CEO of ProExpenser discusses the matter as; “hundreds of Credit unions, banks, wealth management and other organizations introduced a number of spending categories, peer group comparisons, budgeting and other finance management programs for their customers. Money management on Android apps and on websites is becoming increasingly common. Customer appetite for online monetary management is being stimulated by shabby conditions of even economically developed countries and the growing permanence of the digital world.”
And still, many ask whether online financial management is worth it for businesses or not. The fact of the matter is, online money management comes as a package deal rather than a single unifying reward. Mainly, the rewards can be classified as soft benefits such as differentiations, deeper client awareness and customer encouragement. These benefits are not quantifiable yet they do exist. Hard benefits like increased cross-sales or customer retention are quantifiable skills.
The Regional Manager of ProExpenser, James Daniels, advises; “But these programs are clearly designed to be attached to the veins and carotid artery of your business for it to record your business’s life-line. It needs to be executed fully and well. The results of incorporating the programs have varied greatly from firm to firm. How much to be expected in terms of achievement from these programs is clearly related with how perfectly these programs are installed and how faithfully, diligently and rigorously they are followed. Focus on developing an easy user experience, market the benefits regularly and convince employers to use them regularly.”
The monetary investment required to first buy or develop the software, then incorporating into your present system and then spreading it into various touch points is considerable. Yet, results can also be worth the investment; data suggests that cross-selling additional products with reduced customer attrition, and cost saving due to permanent online banking is worth the pursuit.
About the Company
ProExpenser is the leading name in mileage and timesheet tracker as well as income and expense analysis. It can also track your expenses to give you more financial awareness and stability in business.