BudCo
Logo, Website, Dashboard, Product Design
2024
Product Design
4 months, Completed
BudCo is a budget management and fund transfer application for (church-based) teams.
Core Problem
Religious organizations, specifically Celebration Church International (CCI), face significant challenges in managing their financial operations across multiple teams and units. The current process of budget creation, approval, and fund disbursement is inefficient, lacks transparency, and creates unnecessary administrative overhead. Key Pain Points 1. Complex Budget Submission Process ∙ Unit leaders struggle with creating and submitting budgets for various purposes (weekly operations, church planting, special programs) ∙ No standardized way to track budget submissions and their status ∙ Manual collation of budgets creates administrative bottlenecks 2. Inefficient Fund Distribution ∙ Reliance on individual bank accounts makes fund tracking difficult ∙ Delayed fund transfers affect operational efficiency ∙ Lack of real-time visibility into fund disbursement 3. Limited Expense Tracking ∙ No centralized system for expense documentation ∙ Difficulty in maintaining financial accountability ∙ Challenge in generating comprehensive financial reports
Solution Analysis
The solution prioritizes three key user groups: 1. Budget Owners/Unit Leaders (Primary users) 2. Administrators (Power users) 3. Church Workers (Secondary users) A. Budget Management ∙ Intuitive budget creation interface ∙ Draft saving capability ∙ Template system for recurring budgets ∙ Document attachment support ∙ Real-time status tracking B. Approval Workflow ∙ Automated notification system ∙ Multi-level approval process ∙ Centralized dashboard for approvers ∙ In-app communication for clarifications ∙ Status tracking and history C. Digital Wallet Integration ∙ Secure wallet creation and linking ∙ Real-time fund transfers ∙ Balance tracking and alerts ∙ Vendor management system ∙ Transaction history and reporting D. Expense Tracking ∙ Digital receipt management ∙ Categorized expense logging ∙ Budget balance monitoring ∙ Automated report generation ∙ Historical data analysis Success Metrics 1. User Engagement ∙ Budget submission completion rates ∙ Time spent on budget creation ∙ Mobile app usage statistics 2. Operational Efficiency ∙ Approval process duration ∙ Fund transfer speed ∙ Support ticket volume ∙ Error rates in submissions 3. Financial Impact ∙ Processing cost reduction ∙ Time saved in budget management ∙ Accuracy of financial reporting ∙ Reduction in manual interventions
