Automated workflows as cost recovery method
Above are few of the common queries if your firm has a practice of allocating costs against certain type of online subscriptions — such as market data, research, SaaS, and information services licenses. A good example is legal cost recovery for law firms.
The manual process here includes surveys to provide approximate costs, and these are always known to portray values that are significantly less than the actuals. The need for the hour is an automated workflow system that requires user to provide project codes before continuing with a certain type of research or information request.
Couple this with the ability to assign a cost to that action and you have a complete process that works seamlessly for the user, while providing your accounting team with the accurate data.