What is the UNSPSC?

By |2019-08-07T13:27:07+00:00September 12th, 2018|Questions|

The United Nations Standard Products and Services Code (UNSPSC) is a system which is used to classify all products and services around the world. It is a taxonomy structure that is widely considered the standard for today's modern world of eCommerce. This allows products and services to be classified more efficiently and accurately. By implementing the UNSPSC structure, your business is able to improve company wide spend, deliver procurement cost effectiveness, and reduce company costs all together.The UNSPSC classifies products and services in a hierarchical system, dividing them into four common tiers which pave the way for eCommerce. The groupings [...]