Spend Classification is the process of grouping spend data for similar goods or services, assigning them to predefined categories using a Taxonomy document. A hierarchal taxonomy or framework, that spans many major purchasing sectors with multiple sub-categories, that provide procurement managers with clarity, spend visibility, and purpose.

Procurement, Supply Chain, Indirect Procurement, Direct Procurement, PurchasingEdward McGeachie31 August 2020spend analysis, spend analysis dashboard, opportunity assessment, spend analytics