People having one or more investment and expense categories have to monitor their cash flow and investment returns through such mechanisms as spreadsheets. While there are a few solutions that provide a place holder for registering all cash flow transactions and investments, they are quite primitive.

Most of the existing solutions require significant manual intervention and are variations of popular spreadsheets to keep track of personal financial details. With the growth of Internet and online applications, the need for a personal finance solution in the Software-as-a-Service model (SaaS) over the web has emerged. There is a need to provide an automated mechanism with very little manual intervention that will help monitor, manage, analyse and report all personal financial transactions for an individual.

A Bangalore-based start-up, Perfios (Personal Finance One Stop), is doing just that, entirely through the web. It is a solution with automatic aggregation and reconciliation of all transactions for an individual, providing a 360-degree view of his financial health at any time, says V.R. Govindarajan, co-founder, Perfios.

A large part of the application will continue to be free. As the company continues to add more features, it is likely that certain value-added services as well as some advanced features that the company will add (such as advanced analytics, complex reports such as detailed capital gains computation and income tax modules) may be made part of a subscription basket.

Security and privacy are the most important aspects for any online company. In the financial domain, this becomes a most important issue. Perfios, Mr. Govindarajan says, is hosted at a highly secure data centre that has multiple geographically distributed data centres.

For a user to create an account with Perfios, all he/she needs to share is one email address. Even the bank credentials supplied by users are never stored on the servers but are encrypted and stored locally on client machine. So, Perfios does not have access to the client's login credentials. It never asks for transactional password from the client. It uses security certificates from VeriSign and TrustGuard for security and privacy practices and implementations.