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Applications tracked or added in Spendbase are categorized into two distinct types: Free and Paid. This classification helps in organizing and managing your applications more efficiently. Here’s a detailed look at how these categories are handled and differentiated within the Spendbase platform.
Free Applications
Overview: Free applications are those that do not incur any direct costs for usage. They are essential for many business operations and can range from communication tools to productivity applications.
Management Features:
- Default Category: By default, all applications added to Spendbase are considered free unless specified otherwise.
- Free Tab: For ease of access and management, free applications are sorted under the 'Free' tab within the Applications page. This tab provides a clean and organized view of all the non-paid tools in use.
Paid Applications
Overview: Paid applications are those for which your organization incurs a cost. These could be subscriptions, licensed software, or any application that requires payment.
Management Features:
- Paid Indicator: Each paid application is marked with a special 'Paid' indicator. This visual cue helps users quickly distinguish between free and paid apps at a glance, enhancing the ease of management.
- Dedicated Tab: Similar to free applications, paid apps are organized under a 'Paid' tab. This separation simplifies financial oversight and management.
- Additional Parameters: Paid applications have more detailed parameters to be set and tracked. These include:
- Cost: The actual expense associated with the application.
- Billing Cycle: How frequently your organization is billed for the app, such as monthly, quarterly, or annually.
- Price Details: Specific pricing information can be entered and updated as needed.
Enhanced Tracking for Paid Applications: To ensure that financial management is as precise as possible, Spendbase allows for detailed tracking of expenses related to paid applications. Users can input and update cost information directly, ensuring that financial data is always current and accurately reflects spending. Additionally, monitoring the billing cycle helps in budget planning and forecasting, providing financial teams with the tools they need to manage resources effectively.