What does 'Cost Tracking' mean?

Cost tracking is an essential feature of software that allows businesses to monitor and manage their expenses and budgets in a systematic manner. It enables companies to keep track of their costs and identify areas where they can reduce expenses and increase profitability. With cost tracking, businesses can easily record and track all their expenditures, including direct and indirect costs associated with their operations. This feature allows companies to categorize their spending, providing a clear breakdown of costs such as labor, materials, and overhead. It also enables them to