cloudBuy believe that Coding International are the best coding and classification organisation.
Accurate coding and classification are important to procurement, and the ideal way is to use NSV as your internal item codes for all purchases. This makes it easy to accurately compare purchases across multiple suppliers.
The next best thing is running SpendInsight regularly. However, there are limitations on SpendInsight and whilst the automatic classification is comprehensive it is not 100% accurate. This is not an issue for finding the vast majority of potential savings, however for tendering and e-auctions it is critical that suppliers are 100% accurately compared at item level.
This is where Coding International come into their own in providing cost effective item level analysis for tenders and e-auctions.
Coding International are also expert at maintaining cross mappings into all the major coding systems such as:-
The mapping to your Finance System codes is best done manually as a one off exercise with a small amount of future maintenance as your codes are updated.
This allows you to accurately budget based on your pass purchases as opposed to the codes that people have entered to fit within budgets in the past.