Monthly
financial tracker
Empowering freelancers to enhance their financial journey and maximize tax savings.
Company
FlyFin.A.I.
Duration
May - Aug ‘23
My role
Design lead
About FlyFin
FlyFin assists freelancers and small business owners in identifying tax deductions and provides a platform for seamless tax filing. Our service operates on an annual subscription model.
The problem
Suboptimal conversion rates outside of the tax season. One of our unique selling points lies in its year-round utility for tracking business deductions. But our user engagement was lower during non-tax seasons.
Trail activation to subscription conversion.
Active subscribers open the app at-least once a month.
My role
I took the lead in shaping the design of this product, collaborating closely with the product manager to ensure seamless alignment of positioning, strategy, and design with the co-founders.
Over a dynamic three-month period, I engaged in close collaboration with a team of talented individuals, including a React Native developer, a backend engineer, a data scientist, and a content writer, to bring the product to fruition.
Investigation
I orchestrated the entire user research process for this project, overseeing planning, recruitment, execution, and insight derivation. My objective was to delve into the goals, needs, and pain points of users as they navigate the realms of taxes and finances.
The overarching business goal is to consistently deliver substantial value to users throughout the year by addressing their ongoing needs.
Research method
Generative research
Interview type
Online - 1 on 1
Users interviewed
6 freelancers
Demography
USA
Key insights
People often view taxes as a seasonal requirement and may not proactively plan or prepare for the tax season. Nevertheless, they recognise the importance of strategic planning, such as managing quarterly taxes and keeping tabs on business deductions, as a crucial means of saving money.
Users perceive budgeting and gaining insights into cash flow as essential components in enhancing their financial well-being and working towards achieving their financial goals.
Users utilize various tools like Mint, Everydollar, Stash, Spreadsheets, etc., to track both personal and business finances, and subsequently, they face a cumbersome process when attempting to extract data from one tool for use in another during tax filing.
Users encounter challenges when calculating quarterly tax estimations. Users express a need for online resources and insights to facilitate the process of estimating taxes more effectively
The opportunity
Design principles
Simplicity and Intuitiveness
Keep the interface clean and simple. Use intuitive dashabords, navigation, and terminology to make the app easy to understand for users with varying levels of financial expertise.
Clear Information Hierarchy
Prioritize information based on importance. Ensure that critical financial data, such as income, expenses, and tax-related information, is easily accessible and prominently displayed.
Seamless Onboarding Experience
Create a user-friendly onboarding process that guides freelancers connect their bank accounts, and configuring initial settings.
The Solution
Monthly financial tracker
Empowering the financial journey of freelancers and help them save more on taxes.
Positioning the feature: It's crucial for us to uphold FlyFins' role as a tax service app, so the introduction of a finance tracking feature should be carefully integrated with tax-related functions.
The MVP mindset: We're navigating uncertainty about what will succeed and what won't. Our goal is to develop a product that delivers user value without compromising the craftsmanship of the product.
A sneak-peak
After countless brainstorming sessions and iterations, we’ve crafted a solution that perfectly aligns with our goals and design principles. Ready for a sneak peek? Here it is!
On-boarding
To enhance discoverability, we experimented with an unobtrusive bottom sheet to announce the launch of the feature.
We also implemented ongoing discovery of the feature through a home page widget, persisting even after dismissing the bottom sheet.
Accuracy & efficiency
Implemented swipe interactions similar to Tinder for accepting and rejecting income.
Give guidance & show progress
Displaying the user's current status and outlining remaining tasks.
Show status
Display the total detected deposits to set appropriate expectations for users as they proceed.
Result & Impact
3 months of data (Aug ‘23 - Nov ‘23) after the release.
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