Commodity spend classification is a logical way of grouping similar goods or services in productclasses (categories) along a predefined standard taxonomy like UNSPSC, ETIM or GPC. We make use of a pretrained classification algorithm to automate the classification process. Our model can be customized by adding a layer containing customer specific data to obtain the highest possible accuracy. The Commodity Spend Classification algorithm is still in development. If you want a free test on your product data, please let us know and we can.
Our algorithm is still under development. If you would like a free test on the beta version of the spend classification algorithm with your product-data, let us know. We can discuss whether this is beneficial for both of us and if so, how to get things going. contact us
Using our spend classification provides the following benefits to your company:
The only data attribute required to perform spend classification is the productitem description (incl. specifications). The Machine Learning model will use this as input after which it returns the accompanying categories as output.
Classified goods and services along a standard taxonomy. This solution can be provided periodically or fully implemented in your system so that each new item can immediatly be classified by our model. Resultsare offered through:
Based on a rich commodity item dataset our trained AI model is able to classify your product item descriptions with high accuracy