Improve Spend and Performance Visibility
Garbage in, garbage out-the axiom is as old as computing itself. But nowhere is it more true than in the realm of spend analysis. That's because without accurate categorization of past spending data, no amount of analysis can yield the information necessary to fully optimize sourcing decisions. That's where Oracle Spend Classification comes in. It is the intelligence based application that improves spend and performance visibility. It is an important component of Oracle Advanced Procurement, the integrated suite that dramatically cuts all supply management costs.
Key Features
- Organize spend into logical categories
Process data from any source, discover existing patterns and taxonomies, and assign disorganized data into appropriate categories. - Automate expensive data management tasks
Execute classification whenever required, identify potential categories for ambiguously classified spend, classify heterogeneous data into a single taxonomy. - Adapt to changing spending patterns
Assign data from new sources into existing taxonomies, use new spending patterns to improve classification accuracy, and prevent misclassification in source systems.
Drive Visibility Across the Entire Procure-to-Pay Process
Oracle Spend Classification was created to work seamlessly with Oracle Procurement and Spend Analytics, part of the Oracle BI applications suite. Together they enable procurement organizations to gain the holistic view of procurement and supplier performance necessary to drive ongoing improvement..
But it isn't always enough to ensure data quality after the fact, so Oracle Spend Classification is pre-integrated with Oracle iProcurement. This enables procurement organizations to address data quality problems at their source and improve confidence in the accuracy of their systems.