Vendor Management System (VMS)

How Machine Learning and Natural Language Processing Help Create Structured Versus Unstructured Data

Posted: 10/16/2018 - 03:43
Most procurement organizations lack the necessary data to make decisions about their services spend. The fundamental reason for the gap between the data they have and the data they need is that it is buried in documents. As a result, there is a desperate need for deeper visibility into services spend in most organizations. For too long, spend analytics have only provided details at the aggregate level and in many cases the data is not accurate. The marketplace consistently wants to better understand this part of the business to gain greater insight.
 
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