Evenfy app offers a way to organize group expenses

Evenfy app offers a collaborative way to organize group expenses
February 23, 2017

Group events and tasks are fun, but when it comes to managing group expenses, the troubles start brewing. First of all, it becomes difficult to track who spent on what and how much. Secondly, there are chances that group members may perhaps do not recall all expenses or may not be completely honest about the transactions. This often leads to irrelevant arguments and hashed finances. But, the expense sharing app Evenfy takes away all the stress of group money management.

Evenfy is a collaborative free app to help people organize, track and talk about their shared expenses in one place. It is a simple and intuitive platform available on mobile handsets and web for anyone and everyone who is into group collaboration – co workers, small business partners, roommates, couples and families.

Evenfy is based on the concept of collaborative experiences akin to that offered by tools such as Trello and Evernote. The expense management solutions currently available in the market do not solve the concern pertaining to group expenses in an organized and a transparent way. This limits their utility to only a few situations. However, Evenfy approaches the issue from a collaborative perspective and helps people manage group expenses of every kind, like household bills, IOUs on trips or office expenses. Daniel Paschino, the co-founder, says, “We know how annoying sharing bills with friends, partners and family may be. That inspired us to develop a product to help people avoid unnecessary arguments and do more things together.”

It is very easy to use Evenfy. When the sign up process is complete, the users can search for their friends on Evenfy and invite them on the contact list. They can create an event by selecting the contacts or join an existing one. An event can be a trip with friends, a party or a gathering, or monthly expenses pertaining to the home, office or flat. After everyone enters their expenses, the event's creator can close it to check who pays who. Some members pay their debts, mark their transactions accordingly and the other members that have been paid confirm their receipts. When all transactions are paid, the event status changes to ‘settled’.

Evenfy also maintains the transparency and fluidity of information. All group members can
add their shared bills, send messages, and check all expenses and payments status. Besides that, there are rules to ensure an organized interaction between users. For example, only creators can approve permissions to edit or delete expenses, and expenses can be added or edited only if an event has not been closed yet. Based on the group profile or past expenses, Evenfy also makes expense suggestions so that users don't forget to track the recurring ones.

The relevance and user engagement by Evenfy was validated when it was launched in April 2016. The founders worked on every comment, suggestion, rating and feedback received from the users to enhance the product experience. A year later, Evenfy is making the life of people across the globe easier.

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