Verified purchaser
Great Idea... Not So Great Execution
Checking in regularly with all the subscriptions I have can be a huge headache, but necessary if I don't want to continue paying for services no longer used - which is why I was super excited to see this tool.
If it actually worked as it's intended, it would pay for itself almost immediately. However, it doesn't.
Pros:
- Ability to link to accounts to pull in spend without having to manually enter or update
Cons:
- It doesn't even come close to catching all the recurring license expenses and
- Many that it does pull in are listed under completely unrelated company names. Over half of the companies it pulled in I've never heard of. It provides a link to each company which I thought would help, but none of the links lead to companies I've ever done business with so I'm not sure where they're getting that from????
- Some organizations I was able to deduce what it was from going in and seeing the cost and dates or if it actually pulled in transaction details, but you can't rename the companies so to even entertain using this longterm, I would need to keep a spreadsheet of the shown name and what service it actually indicates.
- It missed almost half of my recurring licensing fees. Even with manually entering the information, it would make this software no more efficient than my current spreadsheets. However, if it allowed to manually enter then link to the actual transaction to indicate that service needs to continue to be tracked, that would be a feasible solution. But again, that takes away from the appeal of the touted benefits of LicenseOne.
I may mess around with it for a bit longer to see if I can get it to where it would save me even a little time or see if they fix these major shortcomings, but more than likely will be asking for a refund.
Johnathan_LicenceOne
May 9, 2024Hey Sumo-ling,
Man, that's a hit to the spirit, as it really isn't the level of satisfaction we want for our users - especially ones that experience the problem we're trying to solve.
As there's a lot to cover with your post, so I hope you'll forgive the length of my own 🙏
Before I get into it though, please please please reach out to us on help@licenceone.com or our live chat so we can get this fixed.
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Not detecting licences
Without knowing exactly which account I'm talking about, I can't say 100% sure why this happened but I can give the two most common reasons and how they're fixed.
1. Your bank doesn't provide third-party apps (like LicenceOne) with more than 2-3 months of data -> Resolved by leaving LicenceOne in the background for a while until we get enough data, and soon we expect this also to be resolved soon by allowing CSV imports of transactions (https://feedback.licence.one/feedback/18647/)
2. The application doesn't exist in our database -> We allow users to manually add applications via Applications -> New application / Missing applications, which are then reviewed internally and added to our database after no more than 48 hours.
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Unrelated company names
Without knowing your particular case, I can't be 100% sure of why this happened or how we can fix it. Again, two of the most common reasons:
1. (Doubt it's your case😉) We detect spending that the CEO / CFO didn't know about, and they assume we made a mistake
2. We have a software with a generic name (e.g. "Cafe", "Bubble" etc.) which triggered a match with "Bubble Tea South Beach". Once we get a report of a false positive, that's normally fixed within minutes.
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Not being able to rename application names
I'm not sure why we haven't heard that feedback before - it's a great idea! Just added it to our public suggestions board:
https://feedback.licence.one/feedback/24591/
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Not being able to manually link transactions to new / custom applications
We did toy around with this idea just under a year ago (you can see our slightly outdated reflections here: https://i.imgur.com/8nIyT6A.png) but at the time, decided to prioritise other features; like offboarding and renewal management.
You're not wrong though, it's probably worthwhile to revisit this: https://feedback.licence.one/feedback/24595/
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Closing
Please shoot us a message via our support channels.
You can keep your anonymity - no need to out yourself as the 2 taco review. I just really want to make this right for you and avoid it happening for future users.