Enhanced AI-Based Spend Analytics
Gain valuable insights for data-driven expenditure
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We cleanse, normalize, and aggregate spend data from disparate source stems, covering accounts payable data such as supplier information, spend value, spend volumes, invoice details, and PO details.
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We are flexible with a vast majority of additional data sources such as contract and policy documents, travel and expenses, purchasing cards etc. We then remove duplicate data, undertake basic data transformation (e.g., foreign exchange currency) – finally creating a clean data foundation layer for our clients.
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We then move on to the next phase – grouping suppliers and establishing supplier trees using a proprietary supplier database.
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Finally, a taxonomy lens is applied to the cleansed spend data to determine spend categories at 4 levels. The taxonomy is often a blend of industry standards such as UNSPC, our own view based on other clients in a particular industry, and the client’s view of their own spend. Importantly, this is an iterative process to land on the first release – the final output is cleansed and classified data. These can easily be fed into client’s internal reporting systems.