Moving to metros and other big cities for education or work is a common scenario now-a-days. Staying away from home means staying on sharing basis, and this is when it becomes very important to manage your expenses. In an extremely social environment that we live in, it becomes a social obligation for everyone to hang out with friends for movies, eat-outs, holidays and a lot more. Get-togethers are so much fun, but managing the shared expenses isn’t! Keeping a track of the expenses and calculating ‘who owes how much to whom’ is a pain. Writing behind notepads, splitting on calculators and using spreadsheets have now become a passé! With KnoDues, this tiresome task becomes as easy as chatting!
This is what inspired Saket Bagda & Sahil Sethi, to come up with KnoDues. The duo is young, energetic & self-motivated individuals who’ve shared a close friendship over a long period of time. They happened to pursue their graduation degree together from Christ University, Bangalore, where they were also hostel-mates. Saket went on to secure his MBA from IBS Hyderabad, while Sahil earned his MBA from TAPMI, Manipal.
The idea of creating KnoDues was originally Saket’s brainchild. He came across this while he was sharing an apartment with Sahil with Gurgaon. Constant hassles faced while tracking shared expenses for their apartment led to a conviction that this was an actual pain. And so, KnoDues was built by people who had faced the problem of managing shared expenses and truly understood it! Formal work on KnoDues began in the month of March 2015.
KnoDues is a smart phone app designed to ease out the complications faced in tracking & splitting of shared expenses with friends. The feature of creating events & getting event summaries in the app is extremely useful for friends who stay together in shared apartments/hostels or when they are going out for any trips. The UI/UX of app has been found to be extremely simple and appealing to the users. The market size for KnoDues is massive with the primary market being the Urban Indian Youth falling within the age group of 16 to 28 years.
Currently KnoDues is the only Indian player in this segment. KnoDues, as the name suggests, helps you to know all your dues at any point of time and also encourages you to settle them in a timely fashion. KnoDues allows you and your friends to keep a track of all your shared expenses on the go. The app automatically syncs contact list of the user and makes it very simple to add shared expenses for friends – they can easily be selected from the contact list. KnoDues instantly sends updates to friends for any new expenses added. Also, the app provides friends access to a common shared screen where all dues can be seen and expenses can be added or edited from either ends.
KnoDues has an interesting feature called “Events” – users are allowed to create events and add their friends to this event. So next time around when you’re planning that exciting trip with friends, simply create a trip event on KnoDues & add your friends to this event, and then each one can record expenses paid by them. KnoDues would automatically provide an “Event Summary” of who owes how much to whom. Not just that you can even add information providing timelines for cearing the outstanding dues.
The duo intends to make KnoDues, an end-to-end solution for its users in terms of managing shared expenses. They intend to incorporate various new exciting features & functionality to the app, which they have received in terms of feedback from our current users. They would be launching KnoDues on the iOS & Windows platform soon. KnoDues pitches itself forward with the tagline “More Friends, Less Dues” because KnoDues truly value your friendships and strives to never let your dues spoil even a single one of them. So when you’re heading out with your friends for a movie or a lunch next time, you don’t need to hesitate from paying up for them, just add & track the expenses paid on KnoDues!