Heycard Africa : Spend and subscription management for startups
Prince Miracle
Overview
Heycard is a spend management tool built for forward-thinking startups and businesses. With its intuitive features, Heycard empowers organizations effectively manage their expenses and optimize their financial processes. By streamlining expense tracking, subscription management, providing real-time insights, and enabling seamless collaboration, Heycard equips startups and businesses with the tools they need to make informed decisions, increase efficiency, and drive growth. Say goodbye to manual paperwork and tedious expense management tasks - Heycard is here to revolutionize how you manage your spending, allowing you to focus on what truly matters: driving your business forward. Africa has a $1.4 Trillion business spend market, and Heycard aspires to tap into the potential of this market.
The challenge
The founding team at Heycard comprises individuals who have personal experiences building and working at startups, hence we deeply understand the underlying challenges of managing expenses faced by startups and forward-thinking businesses. With the continuous growth of team members, subscriptions, and other business expenses, managing and staying on top of these financial aspects has become increasingly difficult. This issue directly impacts CFOs (in startups where they exist) and other key members of the finance team, who are responsible for maintaining the financial health of the startup.
Through comprehensive user interviews carried out by myself and the product team with CFOs of African startups like Risevest, Norebase, and Chunk I gained valuable insights into the specific challenges faced by finance teams. This research phase allowed me to identify the key pain points, such as time-consuming manual processes, lack of visibility into the spending patterns of teams, and difficulty in tracking and categorizing subscriptions for tools across teams.
To solve these challenges, our goals were to help startups:
- Provide a solution to effortlessly track and manage subscriptions associated with team members across different departments.
- Enable effective spending management across different departments and teams.
- Track all their employee spending across departments.
- This informed the design of our core product offerings.
Subscriptions and card management
Our aim is to provide startups with a centralized solution that would enable them to easily monitor and control their subscriptions while gaining valuable insights into the tools used by team members. By streamlining this process, we aim to empower startups to optimize their spending patterns across teams.
Multi-wallet management
Understanding that different teams within an organization have unique spending needs and budgets, our aim was to create a flexible solution that allows for seamless expense management across the board. The multi-wallets feature enables teams to have dedicated wallets assigned to them, facilitating better control and visibility over their respective expenses.
People and spending
The team came up with the idea of creating a comprehensive tracking system that monitors the spending patterns of individual team members across various departments. This innovative tool empowers finance professionals by streamlining and providing valuable insights into team members' expenditures, allowing them to align spending with budget allocations more effectively.
