As a purchasing manager, it is crucial to gain insight into your expenditure patterns to be able to make strategic decisions and save costs.
Analyzing your purchasing related expenses is an important first step here. However, to get value from a spend analysis, the consistent categorization of products is essential.
Unfortunately, in practice it is often labor-intensive to do this manually because of the inconsistency and non-standard descriptions of products. Each product must be analyzed and interpreted individually to allocate accurate categories, which requires a lot of human input and expertise.
In addition, the size of the data can contribute to the labor intensity of the categorization process.
Categorizing product descriptions for a spend analysis is often a time -consuming and labor -intensive process.
Fortunately, Enjoy AI offers the solution for this. We use ChatGPT's advanced technology, an AI model specially designed for natural language processing.
ChatGPT can use machine learning product descriptions automatically and accurately, without human input or expertise.
ChatGPT uses human language to name categories that are understandable for anyone. This is possible in Dutch, English, Spanish, French, German, Italian, Portuguese, Japanese and Chinese.
This means that we can process large amounts of data quickly and efficiently and thus offer valuable insights for your spend analysis.
With Enjoy AI and ChatGPT you save time and costs, and you get reliable analyzes to make strategic decisions.
You provide a dataset with all product descriptions that you want to categorize and indicate in which language.
We have these product descriptions categorized by the algorithm ChatGPT on two different levels.
You assess whether the categorization meets your requirements and whether it can be used for your spend analysis.
To better assess whether the categorization matches your own situation, we recommend that you include the amounts per product description.
Enjoy AI immediately creates a spend analysis based on the numbers and amounts. Based on this you can quickly determine whether the categorization for your organization can be used.
Get in touch to receive more information on how we can bring your data to actionable insights
