Effortless and powerful expense tracking app for SMEs and consumers releases update

ExpenZa, the popular South African expense tracking app, has been updated with a range of powerful new features and is now freely available on the Google Play store. The app, designed to help small business owners and consumers easily keep track of their expenses and income, already has a loyal following of more than 5 000 daily users.

Gabriel Roux, CEO of ExpenZa, says the app’s success lies in its ease of use and effortless functionality. “Unlike similar services that require manual input from users, ExpenZa operates by storing the SMSs you receive from your bank to automatically create a transaction history. Users can then quickly get a snapshot view of their expenses and income and make informed decisions about their finances – with minimal effort.”

Incoming SMSs from banks can be categorised, allowing users to easily keep track of where their money is going to and then compare purchases for similar products between retailers. “We also have an agreement with certain retailers to offer discount vouchers and coupons on specific products based on a user’s purchase history, helping consumers save money on key items.”

According to Roux, the app now also offers immense value to small business owners. “By giving company owners a snapshot view of their finances, ExpenZa empowers them to make informed decisions and do proper forecasting. Our web-based portal offers additional functionality by enabling users to export their transaction history to CSV or PDF format, which can then be handed over to the accountants for easy processing.”

While other personal financial management apps require users to divulge sensitive details – such as internet banking username and password, ExpenZa simply uses information already freely available in the incoming transaction SMSs. The app currently integrates SMSs from all leading banks, including ABSA, Capitec, FNB, Nedbank, Standard Bank, Rand Merchant Bank, Investec, Go Banking and Discovery Card. The company has also signed an agreement with a leading mobile service provider who will offer the app pre-installed on 200 000 handsets over the next year.

The app is the result of a partnership between specialist app developers Polymorph Systems and Framework One, whose cloud-based MyMoolah platform forms the back-end foundation of ExpenZa.

For more information about ExpenZa, visit www.expenza.co.za or head to the Google Play Store for a free download to any SMS-enabled Android device.