Here is a topical 6-page handout that Ravi Nishant created on the subject. Everything seems to be fairly straightforward. Get the data and then do the analysis.
Actually, the analysis might be easier to do versus getting the data.
Did you know that most:
a) supplier databases may have up to 8 different spellings for the same company.
b) companies don’t have categories assigned to the items they purchase.
c) organizations keep track of purchases by the General Ledger code and the code in some cases might as well be called “miscellaneous”. Which means everything and anything can be recorded in this account.
Now if you don’t fall into the category “most” as outlined above then congratulations. If by some unfortunate chance, what I have described seems to fit your organization then there is hope.
QCsolver Inc. is working on a new AI to automate the process. This initiative will be done as part of an applied research project that we are working on now and to be completed in Q1 2024. What we will need is a lot of data so our program can learn.
If you would like to help and make your life easier then simply send me an email to geraldf@qcsolver.ca. I will put you on the list.
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