Cognitive Spend Analytics
Cognitive Spend Analytics monitors invoices in real-time across product, vendor, and regional landscapes, while automatically classifying the spend. When a single or collective spend crosses a threshold, an automated exception is raised, identifying the spend category or transaction. The system also provides the ability to analyze spend over multiple dimensions, and drill down to transaction-level details.
- Automated classification reduces manual effort, and helps identify patterns, improving over time with classification algorithms and spend data
- Classifies and reclassifies spend based on natural text processing that identifies key invoice data points and predicts the spend category
- Visualizes spend patterns and drills down to transaction-level details from aggregated spend categories
- Perform trend analysis of global spend across customizable time periods
- Analyze spend across multiple dimensions: vendor, product group, vendor attributes, organization attributes, and regions