Conceptualizing A Product: Leader

The Leader In Outsourced Software Product Development
January 27, 2012
Conceptualizing a Product
Quicken India Online : A Case Study
Few Definitions
Product Management
Collective term used to describe the broad sum of diverse activities performed in the interest of
delivering a particular product to a chosen market
Market Requirements Document (MRD)

Represents the User view of a solution for a market problem Describes desired functionality
Is it worth it (spend versus returns??)
Product Requirements Document (PRD)
Describes specific features and attributes to be included in the product for addressing the given market
problem
Copyright 2008 All rights reserved
Evaluation Framework
Issue
Problem Marketing Requirement Document
Question
Where is the pain?
How to solve it?
Metrics
Money, Time, Inefficiency
Functionality, Cost?
MRD
Solution Opportunity
What if we solve this?
Does it make life easier? Can I as a conceiver benefit?
Product Requirement Document
PRD
Product
What small version validates it?
Features, UI, Technology, Stakeholders (AGILE)
Execution Program Management Document
What does it take to execute it?
PMD
Project plan, Partners / Channels, Financials Business Model, Integration, Timeline, Resources
Competition, People, Money, Technology(Be paranoid!) Andy Grove!
Risk
What risks need to be mitigated?
Problem
Sample Case
Quicken India Online
Slides to follow depicts a sample case where Persistent proactively conceptualized Intuits Personal finance management product Quicken, for the Indian market.
MRD PRD
Product
Aimed at Indias nex Gen!....

Execution
PMD
Discussed framework was used to present the business case for evaluation by Intuits IT steering committee.
Risk
Money for a Typical Cool IT or nexGen Dude or dudess, unless
"Fresher"
Mr. Milind Shirke
Name Milind Shirke
Profession Software Engineer
Problem
City Pune Age 25 Years
MRD
Monthly Income Rs.35,000

Savings Never Bothers
Finance for me is
Product
Execution
PMD
2 Saving Accounts Education Loan Vehicle Loan House Rent Electricity Bill 1 Credit Card 1 Mobile Connection 1 Life Insurance
I need to save at least 10% of my salary...
PRD
I often miss my Credit Card payment due date (3% p.m. interest )
I miss paying my mobile bills (Late Payment Fine: Rs.100/-) I do not have sufficient funds to invest in tax saving Instruments at year end
I am not able to keep continuous record of my house rent and medical bills Financial health for me is my ATMs balance receipt
Risk
"Just Married"
Mr. and Mrs. Parag Mutatkar
Name Mr. Parag Mutatkar
Profession Manager VSNL
Problem
Mrs. Parag Mutatkar

Sr. Exec (Recruitment) HDFC New Delhi 28 Years
City New Delhi Age 29 Years
MRD
Monthly Income Rs.48,000
Rs.43,000
Savings Invest only in tax savers
Finance for us is
Product
Execution
Risk
4 Saving Accounts 1-2 Car Loans House Loan Electricity Bill Plasma TV Loan Personal Loan 2-4 Credit Cards 2 Mobile Connections 1 Demat Account 2-3 Life Insurances Property Tax 1-2 SIP Premiums
I need to predict my future cash flows
PRD
I need someone to help me plan my savings and investments I can not track my expenses I pay by checks and few often bounce back (fine Rs.250/-) I often forget maturity date of bonds I purchased 3 years back
PMD
I firmly believe that I cant plan my finances until I have surplus money Financial health for me is still my ATMs balance receipt
"Double Income With Kid(s)"

Mr. Sudhir Gupta and Family
Name Mr. Sudhir Gupta Manager Sales Profession Reliance Comm. City Mumbai Mrs. Sudhir Gupta Babli Relationship Mngr Goes to Ad Agency Crche
2 Years -
Problem
MRD
Age 32 Years 30 Years Monthly Rs.60,000 Rs.30,000 Income Savings Planning for Future
Finance for us is
Product
Execution
Risk
4 Saving Accounts 1-2 Car Loans 3 Credit Cards 2 Mobile Connections 1 Demat Account 3 -4 Life Insurance 1-2 SIP Premiums House Loan Property Tax Electricity Bill
PRD
I need to optimize my investments
I understand my future needs I spend a lot of time in managing my financial documents, keeping trail of all transactions I need someone to help me manage my personal finance but I dont want a consultant I need to keep track of my personal belongings (Gold, Ornaments) I need to invest in my childs education and future needs
PMD
So What Is The Answer?
Problem
MRD
Solution
Predictability
Opportunity
Visibility
Efficiency
Can Someone Help?

PRD
Product
Yes, a simple but a powerful Personal Finance Management tool, that
PMD
Helps you keep a track of what Helps you track spending and manage one window to manage all you are Gives you doing with your hard-earned money budget your personal finances Execution Encourages you to save and Helps you set personal financial goalsyour crucial time utilize it Saves Suggested Minimum Feature Set for the Prototype sensibly and monitor progress
LinksRisk all bank accounts to

Categorizes spending
Keep track of investments

SMS alerts for payments
Utility bill payments

Income tax categorization
9
Where Is The Money?
Problem
MRD
The number of households in India with 5 lakhs < annual income < 10 lakhs
>3.2M [2005-06] >4M [2008 est.]
Source : NCAER URL: www.ncaer.org/downloads/PPT/TheGreatIndianMarket.pdf
>6.1M [2009-10 est.]

46M
Total internet users in India

PRD
Product Source: IAMAI
Total broadband subscribers

Source: TRAI Execution
3.24M
Direct employment in the IT sector in 2008

Source: NASSCOM URL: http://www.nasscom.in/upload/5216/Strategic_Review_Feb2008.doc
>2M
PMD
Risk
10
Estimated Market Size

Projected Cash Flows
Problem
MRD
2008
Solution
2009
2.5 M
(Including Banking and Telecom professionals)
2010
3M
(20% growth in user base )
Target User Base

Opportunity
2M
(Only IT professionals)
PRD
Product
Expected Market Penetration Expected Yearly Cash flows
5% 0.1 million users $ 2.4 M
15% 0.38 million users $9M
25% 0.75 million users $ 18 M
Execution
PMD
Risk
Assuming a $2 p.m. billing rate for Quicken i.e., $24 yearly Monthly subscription fee will be absorbed fully / partially by HR / Finance departments
11
Introducing Quicken India Online

What is it?
One-stop shop for managing personal finances
Problem
Aaam aadmi ke hisab kitab ki kunji Customized specially for Indian market
MRD
Local finance jargons

SaaS Model - highly customized web 2.0 portal
PRD
Product
Collaboration Host of value added services Free credit risk assessment, etc.
Execution
PMD
Integration with enterprise payroll system

Risk
Win-win for both Quicken India & enterprises

One click solution for all financial transactions Mobile payments, online transactions, etc.
12
Quicken India Online - Features Usability

Expenses Automatically categorize expenses
Problem
Track spending and manage budget Pay / schedule payments of periodic utility payments Insurance, electricity and telephone bills, etc. Balance checkbook payments
MRD
Track loan accounts

Payment / debt reminders PRD
Product
Income Monitor and update all accounts at once Bank accounts Demat accounts
Execution
Paycheck
Dividends
PMD
Risk
Interest gains Property gains

High - Priority - Low Harvey Ball Analysis
Sale of investment instruments, Capital gains

13
Taxation
Problem
Income tax categorization

Store statements and records electronically
MRD
Find way to minimize capital gains taxes
Savings PRD
Product
Budget and control the balance money for the current month Set saving goals and track them Plan for retirement or a new home, find hidden tax deductions
Execution
PMD
Monitor Investments
Risk
Analyze and balance personal portfolio Receive investment alerts Create investment performance reports
14
Problem
Track and Manage Belongings / Holdings Keep a record of hundreds of items of personal property Add photos of items with simple drag and drop
MRD
Support insurance claims for loss or damage

Scan and attach price tags, receipts and warranties PRD
Product
Record beneficiaries for each item for estate planning

Jewelry and ornament details with photographs
Execution
PMD
Risk

15
Quicken India Online

Value Added Services and Benefits
Problem
Discussion boards
MRD
SMS alerts
Investment advice
Product
Value Added Services (VAS)

Online utility payments Quicken credit card
Credit risk evaluation
PRD PMD
Execution
Risk
16
Selling Quicken India Online through enterprises

Quicken Online
Enterprises
Employees
17
Value Proposition For Enterprises
Problem
Integration with Enterprise Paycheck Systems
MRD
Eases furnishing of investment details

Ability to track projected and actual investments both by employee as well as employer for TDS preparation
PRD
Product
Excellent employee welfare tool. Can be a good HR differentiating factor
Execution
Pros:
Cons:
Clearly defined market segment Focused pitch Subscriptions can be sold in bulk
PMD
Risk
Different connectors need to be build for top 5 Paycheck System vendors
18
How To Integrate Paycheck ?

Technical Solution
Technical Solution : To link Quicken Online with ERP / Paycheck system of enterprises
Third Party Connections Quicken Online Ecosystem Enterprise Ecosystem
Quicken Online
Connector
Paycheck System
Financial Institutes
Direct Users
Employees
19
Problem
MRD
PRD
Product
Quicken India Online At a Glance

Integration with Enterprise Paycheck Systems
Execution
PMD
Risk
Use Case : Quicken India Online

Set up Paycheck System
Paycheck
Problem
MRD PRD PMD
Product
Execution
Risk
21

View Salary Slip
Paycheck
Problem
MRD PRD PMD
Product
Execution
Risk
22

Track Investments
Paycheck
Problem
MRD PRD PMD
Product
Execution
Risk
23

Manage I-T Exemptions
Paycheck
Problem
MRD PRD PMD
Product
Execution
Risk
24

Manage HRA
Paycheck
Problem
MRD PRD PMD
Product
Execution
Risk
25

Manage I-T Exemptions
Paycheck
Problem
MRD PRD PMD
Product
Execution
Risk
26
And lots more to come
Proposed Marketing and Sales Channels
Problem
MRD
Solution
Resellers
Opportunity
Enterprises
Product
Intuit and Persistent

Email Campaigns / Public Relations Free Trial / Promotional Scheme / Co-branding Co-operative Marketing Programs / Viral Marketing
PRD
Consumers
Execution
PMD
Risk
28
Indian Market Challenges

How to fight back?
Problem
MRD
Challenge
Lower PC / internet penetration in households Poor Infrastructure lower broadband penetration and speed
Proposed Solution
Online version any time anywhere access, machine independent Dual version of website
Lighter Rich UI
PRD
Product
People are not use to buying Software Users mostly surf net from office
SaaS very low monthly fees Sales through enterprises Online version so no piracy issues Simple and Indianized version with very simple and easy to learn tools
Execution
Piracy Lower financial literacy
PMD
Risk
29
Thank You
Copyright Copyright 2008 Persistent2008 All rights reserved All rights reserved. Systems Limited.
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The Leader In Outsourced Software Product Development

January 27, 2012

delivering a particular product to a chosen market

Market Requirements Document (MRD)

Is it worth it (spend versus returns??)

Product Requirements Document (PRD)

Copyright 2008 All rights reserved

What if we solve this?

Does it make life easier? Can I as a conceiver benefit?

Product Requirement Document

What small version validates it?

Features, UI, Technology, Stakeholders (AGILE)

Execution Program Management Document

What does it take to execute it?

What risks need to be mitigated?

Copyright 2008 All rights reserved

Aimed at Indias nex Gen!....

Copyright 2008 All rights reserved

Money for a Typical Cool IT or nexGen Dude or dudess, unless

Copyright 2008 All rights reserved

City Pune Age 25 Years

Monthly Income Rs.35,000

I need to save at least 10% of my salary...

Mrs. Parag Mutatkar

City New Delhi Age 29 Years

Monthly Income Rs.48,000

Savings Invest only in tax savers

I need to predict my future cash flows

"Double Income With Kid(s)"

I need to optimize my investments

So What Is The Answer?

Can Someone Help?

Yes, a simple but a powerful Personal Finance Management tool, that

LinksRisk all bank accounts to

Keep track of investments

Utility bill payments

Where Is The Money?

>3.2M [2005-06] >4M [2008 est.]

Source : NCAER URL: www.ncaer.org/downloads/PPT/TheGreatIndianMarket.pdf

>6.1M [2009-10 est.]

Total internet users in India

Total broadband subscribers

Direct employment in the IT sector in 2008

Copyright 2008 All rights reserved

Estimated Market Size

Target User Base

Expected Market Penetration Expected Yearly Cash flows

5% 0.1 million users $ 2.4 M

15% 0.38 million users $9M

25% 0.75 million users $ 18 M

Copyright 2008 All rights reserved

Introducing Quicken India Online

Local finance jargons

Integration with enterprise payroll system

Win-win for both Quicken India & enterprises

Quicken India Online - Features Usability

Track loan accounts

Interest gains Property gains

Sale of investment instruments, Capital gains

Quicken India Online - Features Usability

Income tax categorization

Find way to minimize capital gains taxes