Spend Analytics: Detailed insight into procurement spends using machine learning

The Client – The client is one of world’s largest consumer goods company

The Challenge –

  • Detailed analysis of Spend is not available because classification not done accurately at the time of transaction

  • More than 50 million transactions

  • For the previous year, the classification was done manually by 50 people over a period of 2 months.

The Solution – 

  • Spend classification using machine learning algorithms

  • Cost analysis through interactive visualization and building spend cubes

  • Internal and external benchmarking

  • Monitoring variance from budget by definition of cost drivers

The Outcome – Real and sustained cost reduction using machine learning through detailed insight into procurement spends?