If you have used YouTube recently then chances are you have probably seen an ad about Khatabook. Khatabook is an on-demand mobile application that is a digital medium and replacement of physical account books that people used to keep. Now khatabook can be used to keep track of daily expenses as well as other money-related transactions. The specialty of Khatabook is that the app is developed for small businesses and in order to solve their transaction record problem.
Currently, Khatabook has over 10 million downloads on the Play Store as more on the App Store. The Indian startup has become India’s top leading Ledger account management platform and has inspired so many people to start their own startup. If you are also looking to develop an on-demand solution like Khatabook and wondering about how much it cost to develop an on-demand app like Khatabook then please let me walk you through the whole development process and discuss key elements as well as features of Khatabook app. Welcome to Tech Pathway blog, today we are going to discuss How much it cost to develop an on-demand app like Khatabook.
How Khatabook became so successful
The reason behind the recent success of on-demand solutions like Khatabook is the same, the recent change toward digitalization as well as apps solving users’ basic issues. Khatabook has also done something similar with their venture. They digitalized the Ledger account management and made it digital while solving customers’ issues about maintaining it by doing lengthy mathematical formulas and made the whole process automatic. Before this on-demand solution, Khatabook came into existence because existing business owners had to calculate ledger accounts at the end of each day as well as at the end of each month. But since Khatabook came people can simply use it to create an entry and the app automatically does all the calculations and shows you the result at the end. This simple on-demand solution has made the lives of millions of shop owners comfortable and continues to do so.
Other than this, there is one more thing that Khatabook offers and that is cloud storage. The Khatabook app allows its users to easily sync their data on the cloud platform that can be used on other devices as well as in case of data recovery.
Demographic of KhataBook
- According to Economic times, Khatabook has received anywhere between $280 million to $300 million in total.
- In the last round, Khatabook took $70 million in funds.
- After that, the company was valued over $300 million in total.
- Companies such as GGV Capital, DST Global, Sequoia India, Tencent, and other companies have helped Khatabook by investing in various fundraisers.
- Khatabook is expecting to see over 20 million downloads on the Play Store as well as on the App Store.
The business model of Khatabook is as simple as it can get.
- Business owners can register into the platform using email and mobile number.
- And that is pretty much it. After the registration is complete you can log into the app and start using the app.
- In order to use the app, you will make an entry into the app with name, address, and mobile number and the amount.
- Khatabook completes all the calculations itself, saving hours in return.
- You can use the Khatabook app to send Whatsapp reminders as well as the ledger details using Whatsapp as well as text SMS.
Revenue of Khatabook
In-app Google ads
Khatabook application doesn’t provide any premium features as well as any subscription-based feature so the best way to monetize the app is by using in-app ads.
Although Khatabook does not have special features still users can use the ad-free version of the app by paying a small fee per month as well as year.
Although the app is currently free, as the user base will grow, the company can start adding additional features and make them subscription-based. Features such as in-app payment can be useful and Khatabook will take a small percentage of the total transfer amount.
Key features of KhataBook app
- Sign in
- User profile
- Add transaction
- Edit transaction
- Sync from your old lodger book app
- Delete transaction
- Call customer to remind them about the upcoming payment date
- Whatsapp reminder to remind about the payments in order to increase the recovery.
- Easy backup and Restore into the cloud
- Simple and smooth UI & UX as well as the layout of the app
- Add Udhar Jama anytime
In cases of on-demand solution development, development companies charge you in one of these two ways
- The fixed price of your project: If you have a complete idea about how you want your mobile application and the website to look and feel like and what features they will have then fixing a price beforehand is the best approach.
- The hourly rate: When it comes to big projects such as complex websites and mobile applications, games, etc where the project is updated from time to time and new features are added, development companies charge their clients on an hourly basis. The most common rates for design and development are $40 for India and $200 for the USA based companies.
- The total number of Panels and Features of the app: The total number of required panels with the total number of features will affect your application’s design and development cost.
- The UI & UX of the app: A smooth and user-friendly UI and UX is a necessity for an app to get successful between users. The better UI & UX you want the more you will have to pay.
- The total number of supported platforms: If you want your mobile app to support iOS as well as Android then you will have to pay for both.
The final cost of an on-demand app like Khatabook will be anywhere around $5,000 to $10,000 depending upon the features I have mentioned above.
Looking for a company to hire
If you are looking for a development company to develop your on-demand solution within budget then you are exactly in the right place. Tech Pathway is India’s one of the top leading IT consultancy companies. We have a team dedicated to iOS app development as well as for Android app development with expertise in all the latest tools and technologies to develop your on-demand solution.