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PrepDD
PrepDD is a smart workspace for finance teams - simplifying workflows, information gathering, and document compliance.
The problem
There is not a central location for finance teams to share sensitive, confidential financial information securely from business to business, and compliance and auditing processes are still clunky and manual.
The solution
PrepDD! A collaborative workspace that allows finance teams to securely share projects, tasks, and files internally and with outside parties to speed up the compliance process and automate the tedium of financial reconcilition.
User Interviews & First Screens
The initial user interviews gave the team a window into the pain points financial professionals experience while trying to balance multiple accounts, files, projects, third-party affiliates, and the list goes on. Using key insights from the initial rounds of interviews, we were able to create our first series of screens: Projects, tasks, and files.
"Having a centralized place to manage projects is a must. Period. I need to see where everything stands on a high level."
"Being able to organize tasks both internally and externally is needed to stay on track and manage teams."
"Sharing files across multiple channels is terrible right now. Having all data in one, shared location would be great."
Company Settings & Admin Screens
After concept testing the app and getting buy-in, the next step was to create company setting & admin screens to allow users to identify their company and control user permissions, assign roles, and manage their plans.
Task Sidebar
In order to create a more accessible user flow, we decided to move forward with a sidebar pop-out experience, allowing users to see project and task details, including all file attachments and in-app messaging.
Recurring Projects & Tasks
Finance and accounting work flows rely upon consistently performing the same projects and tasks on an ongoing basis, with their frequencies ranging from daily (cash reconciliation) to yearly (audits). By adding in a recurring scheduling feature, PrepDD would help automate yet another manual administrative task faced by most teams. Here are some of the high-level user scenarios:
Monthly Close: Manager creates a project titled "Jan '20 Month Close,"
Payroll (part 1): Admin creates a one-task project as a reminder for bi-weekly payroll.
Payroll (part 2): Owner creates a one-task project as a reminder for payroll on the 15th of each month.
Weekly Tasks: User creates a rolling to-do list for their various tasks.
Quarterly Reporting: Owner shares monthly financial data with their bank each quarter.
Quarterly Filing: User requests the same data from their client for their upcoming SEC filing.
Monthly Investor Update: User requests a standard list of questions from their portfolio.
Learnings & Next Steps
Building an application from the ground up has been exciting, complex, and challenging. PrepDD is still in the early phases of development, with funding on the way. Some of our crucial next steps include:
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Search Experience
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Reconciliations
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Project Templates
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Data Validation
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