The key to great spend analysis is good DATA. The key to good DATA is cleanliness, accuracy and structure. Structuring your data correctly offers easy analysis of spend patterns by category, by cost-centre, by transaction volume, and by both transaction value and aggregate value.
Choosing your data structure and depth is the key part of your taxonomy, or classification scheme (naming convention) for your spend data. Spend taxonomy is the classification of an organization's spend in a hierarchical order that usually ranges from 3 to 5 levels depending on the complexity of their spend. They are usually classified as: Level 1 (Group), Level 2 (Family), Level 3 (Category), Level 4 (Commodity)
A usual approach today is the UNSPSC approach – but one size does not always fit all. And aligning your spend data structure to your product needs can better serve your procurement strategy.
Discuss how, exactly, with your peers and compare different approaches in a non-partisan way: What can we learn from each other? What can we all do better?
Gordon Donovan FCIPS is one of the country’s most experienced CPO’s and procurement trainers, and has a deep experience in this area from several hands-on projects to complete essential taxonomy spend structures. Currently he is working for SAP/Ariba in a procurement intelligence evangelist role based in Melbourne. https://www.linkedin.com/in/gordon-donovan-6305b13/?msgConversationId=6397008743716003840&msgOverlay=true
The time of this session is:
12.00-1.30PM AEST (BNE, SYD, MELB)
|Start||May 4th, 2020. 12:00pm|
|End||May 4th, 2020. 13:30pm|
|Status||Event Details Closed|
|Category||One off sessions|