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Latest Procurement Insights
Example of Spend Data Classification
The amount of detail in spend data differs between companies. What is a critical field to one industry may not matter to another. As our team builds classification rules, we look at any and all fields that contain useful information. Typical fields we may see...
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How Do You Define and Measure Accuracy in Spend Analysis?
A lot of spend analysis vendors use percentages when describing spend analysis and their capabilities. “Classified to >85% accuracy.” “Cleansed at 95% accuracy.” Or “Classified close to 100% accuracy.” At Sourcing Force we also use percentages to validate...
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What is Supplier Normalization in Spend Analysis?
This blog post focuses specifically on supplier normalization. What is Supplier Normalization? Supplier normalization is the process of taking supplier names with multiple spellings, mis-spellings, abbreviations, etc. and normalizing them (cleaning them up so...
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