Spend Classification Performance and Analytics
The performance section of spend classification provides a number of charts and graphs that can help you assess the efficacy of the reclassification process.
Here’s what you can review and analyze in the performance page:
- Spend Classification's assessment of the spending by various categories in the procurement transactions.
- Category transformation using the spend transactions spread, before and after the classification process.
- Performance charts to assess whether the predicted spend information for individual spend categories aligns with the forecasted or budgeted spend amounts.
- Top categories by spend amount to see what proportion of spend in each of these is directed at the top five suppliers.
Any significant discrepancies or ad hoc categories showing high levels of spend would indicate prediction inaccuracies. And discrepancies between the chart metrics and budgeted or anticipated figures would tend to suggest an opportunity to further refine and update training set data used within the classification knowledge base. As results improve over time, this improvement will enhance your organization’s spend analytics and help in driving better strategic sourcing initiatives and analyses.
Further, you can create reports for spend classification in the Oracle Transactional Business Intelligence (OTBI) application. You can also get enhanced insights into your organization's operations with the Spend Classification Analysis dashboard. This dashboard helps you to compare the difference in the Procure to Pay reports by showing the results using the original spend transaction data before classification, and updated results after classification of your spend data. Real-time data from Spend Classification is also available in the Expense Transactions Real Time subject area within OTBI.