Post by smkie on Oct 15, 2011 3:06:02 GMT -5
The United Nations Standard Products and Services Code (UNSPSC) provide an open, global multi-sector standard for efficient, accurate classification of products and services. UNSPSC (United Nations Standard Products and Services Code) is an open, global electronic commerce standard that provides a logical framework for classifying goods and services with over 20,000 categories.
Many organizations use UNSPSC coding systems, as it offers five levels of hierarchical classification of products and services with 8 unique digits code for each category and also for its availability in 10 different languages. UNSPSC Classification helps the companies in many ways of which the most important one is data standardization. This kind of data standardization is not only required for company division data but also supplier data and across global locations. It also helps in process flow integration from RFX to ordering to accounts payable to general ledger and so on. It assists in part data synchronization in design, manufacture, procurement and other systems. It majorly assists in standard coding system for products and services. UNSPSC based classification services and UNSPSC version mappings are used by companies for better data synchronization and spend management. There are some benefits derived by this coding system. They provide a deeper understanding of the code set and how it is managed. It gives a valuable reference and decision-making tool for all those involved in the development, maintenance, evaluation, voting, delivery, and utilization of the code set, thereby providing qualitative and quantitative measures to ensure the consistency of the code set.
Many organizations use UNSPSC coding systems, as it offers five levels of hierarchical classification of products and services with 8 unique digits code for each category and also for its availability in 10 different languages. UNSPSC Classification helps the companies in many ways of which the most important one is data standardization. This kind of data standardization is not only required for company division data but also supplier data and across global locations. It also helps in process flow integration from RFX to ordering to accounts payable to general ledger and so on. It assists in part data synchronization in design, manufacture, procurement and other systems. It majorly assists in standard coding system for products and services. UNSPSC based classification services and UNSPSC version mappings are used by companies for better data synchronization and spend management. There are some benefits derived by this coding system. They provide a deeper understanding of the code set and how it is managed. It gives a valuable reference and decision-making tool for all those involved in the development, maintenance, evaluation, voting, delivery, and utilization of the code set, thereby providing qualitative and quantitative measures to ensure the consistency of the code set.