What is Product Status?

Created by Shubham Saxena, Modified on Fri, 25 Aug 2023 at 04:29 AM by Shubham Saxena


Every product in your Spendflo inventory has an associated status - it’s clearly displayed in the product list view and on each product profile.

Statuses help you:

  • Organize your inventory into sensible groupings, as not all products you discover need the same kind of attention
  • Track the lifecycle of the key products you want to actively manage i.e., from onboarding through to the end of its lifecycle

You will see 'status' as an option in reports and filters.

Status definitions

The default status for all discovered products is ‘new’. The ‘managed’ status should be assigned to products that you want to actively manage in terms of assigning business owners, tracking license information and renewals etc. As it's very unlikely that you will want to actively manage all of the products you discover, there is an "in-review" status between ‘new’ and ‘managed’ to account for different outcomes as you review products.

Below is the list of all the statuses and their definitions.

  1. New - Default status for newly discovered products

  2. In review - The product is in review, either as part of initial onboarding or post-discovery when verifying if the product should be part of your inventory or closed out.

  3. Ignored - miscellaneous and doesn't require attention in terms of spend, licensing, user engagement or risk. Ignored products are hidden by default in all inventory views. Typical examples would be one-off custom scripts that are picked up in discovery.

  4. Managed - product is key to your business and should be actively managed. 

  5. Canceled - use of the product is discontinued. This state archives the information you’ve collected, but products in this state are hidden by default in all inventory views.

Changing the status

  • To change the status of a Product,
  • Go to the Products page from the navigation menu
  • Locate the Product where you want to make the change
  • Click on the downward arrow in the status
  • Select the status that you want the product.
  • The status will be changed

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