Financial Management with Amplop.in

Amplop.in, a user friendly service for financial management was launched on February 28, 2011.

Indonesia’s financial management related service is not really a new thing; previously DailySocial wrote about NgaturDuit.com which also provides assistance for users to record and manage their financial activities.

Amplop.in is a web based financial planning application which offers services among others to record transactions like income or expenditure, to assist users to set priorities, evaluation result and process from ongoing financial transaction and using ‘envelope’ philosophy with calendar-like looks.

In this application you can record you financial transactions based on their names. You can group your financial transactions with ‘envelope’ system ('amplop' means 'envelope' in Indonesian language). This envelope will become groups of transactions. E.g envelope for education, for shopping, or for monthly bills, which can be divided into several categories such as internet, electricity, etc.

Amplop.in uses calendar-like appearance where you can put your financial transactions based on daily basis. You can add transaction directly from available link or on ‘Date’ column in the calendar. Two main menus from this service are Kalender (Calendar) and Amplop (Envelope). Each can be adjusted based on your needs.

It is interesting that they use ‘envelope’ term in Amplop.in because it is quite common that people use this term as well in real life. A friend of mine, a merchant with big transactions still uses this ‘envelope’ system to manage his financial transactions and make special posts to divide them.

Amplop.in also focused on feature simplicity, compared with NgaturDuit which has other features such as graphic. Amplop.in chose a different path by providing useful yet simple facility, as explained by one of its founders Mochammad Masbuchin, fewer features doesn’t always mean to be less usefulAmplop.in tries to provide an easy way in facing financial management complexity.

I myself am a big fan of web or mobile based applications, especially the ones made by Indonesians, which focus on providing service that assist productivity, including financial management. Amplop.in, developed by DropSugar (was called Sacred Warrior) can be an option for a simple financial application. However, I still prefer extra facilities such as graphic or other additional facilities for the next several months. Still, if you like its simplicity, Amplop.in can be an option.

Competition for similar applications is already a crowded one, locally or globally. However, Masbuchin said, Amplop.in has quite an excellent growth since launched last week. They are also developing some other features such as annual calendar integrated with SMS and Twitter and online banking account checking.

For monetizing, Amplop.in opted not to place any advertisement on their website and instead will go for online financial consultation + investment and protection offer, and subscribe system.

Been having problems controlling your finance? You might want to check them out here, and don’t forget to tell us what you think after using it. As for their monetizing plan, it is the most interesting part for me. Let us see how they will do it and how their users will respond. One other thing, hopefully they also pay attention to developing the mobile version.

Translated by Nita Sellya