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.

30%

30%

Trail activation to subscription conversion.

40%

40%

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

Seasonal behaviour

Seasonal behaviour

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.

Budgeting & cash flow insights

Budgeting & cash flow insights

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.

Too many tools

Too many tools

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.

Tax estimation is tough

Tax estimation is tough

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

“How might we enable freelancers to effectively manage their finances while ensuring transparent oversight of their tax payments?”

“How might we enable freelancers to effectively manage their finances while ensuring transparent oversight of their tax payments?”

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.

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.

30%

Trail activation to subscription conversion.

40%

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

Seasonal behaviour

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.

Budgeting & cash flow insights

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.

Too many tools

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.

Tax estimation is tough

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

“How might we enable freelancers to effectively manage their finances while ensuring transparent oversight of their tax payments?”

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.

Income tracker
Income tracker
Income tracker

The Solution

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.

Rationale: Swiping is a more precise and accurate method than tapping, minimising the likelihood of errors.

Rationale: Swiping is a more precise and accurate method than tapping, minimising the likelihood of errors.

Rationale: Swiping is a more precise and accurate method than tapping, minimising the likelihood of errors.

Give guidance & show progress

Displaying the user's current status and outlining remaining tasks.

Rationale: Motivating users by highlighting that a significant portion of the work is already completed.

Rationale: Motivating users by highlighting that a significant portion of the work is already completed.

Rationale: Motivating users by highlighting that a significant portion of the work is already completed.

Step wise flow

Show status

Display the total detected deposits to set appropriate expectations for users as they proceed.

Rationale: Ensuring that the users link all their accounts for precise information about their financials.

Rationale: Ensuring that the users link all their accounts for precise information about their financials.

Rationale: Ensuring that the users link all their accounts for precise information about their financials.

Result & Impact

3 months of data (Aug ‘23 - Nov ‘23) after the release.

~0%

Growth in the number of subscribers who access the app at least once a month.

~0%
~0%

Rise in the conversion rate from trial activation to subscription.

~0%
~0%

Increase in average number of sessions per user.

Grab a ☕️ & let’s talk

Always open to talk about design, product & tech in general

getvysak.a.s@gmail.com

Grab a ☕️ & let’s talk

Always open to talk about design, product & tech in general

getvysak.a.s@gmail.com