Spend Classification

AI classifies procurement spend and turns analytics into near-instant insights.

Business impact

• Analytics cycle time — PepsiCo reduced a six-week analytics process to near-instantaneous insights.

Data requirements

• Procurement spend data (tabular) — The process uses spend analytics data.
• ERP data (tabular) — Procurement records come from multiple ERPs.
• Contract data (text) — Contracts are part of the procurement data set.
• Supplier portal data (tabular) — Supplier records and portal data feed the model.
• Invoice data (tabular) — Invoices may contain missing key details that affect classification.

AI methods and techniques

• Classification — Used to categorize procurement spend.
• Explainable AI — Used to show why a spend classification or recommendation was made.

Industries

Real-world evidence

1 documented case study on record.

Companies using this: PepsiCo.