General Electric gets automated UNSPSC engine; classifying spending regardless of source, achieving visibility
Spending analysis specialist Zycus plans to announce a new win, that of General Electric (GE).
Zycus will be offering its automated United Nations Standard Products and Services Classification (UNSPSC) engine, known as AutoClass, to GE.
What AutoClass does is to classify all purchases at their source, whether based in a catalog or not. The product also parses historical purchase and inventory data. Together, the goal of both features is to provide the customer with a thorough understanding of spending.
The system AutoClass applies is UNSPSC -- a common standard for classifying global products and services developed by the United Nations Development Program (UNDP) and D&B (Dun & Bradstreet) in 1998. Applying UNSPSC across all supplier catalogs can let buyer achieve a degree of spending visibility. Zycus provides UNSPSC services like commodity coding, legacy coding, AI-based automated classification, data cleaning, data normalization, and product content enrichment.
AutoClass integrates with both purchasing systems and sites enabled with punch-out.
Automotive consortium Covisint was a recent Zycus win, and international logistics and transport firm P&O has also selected Zycus.
GE Capital is an investor in Zycus.
|
Back
