The Procurement Glossary » UNSPSC

UNSPSC

Spend & Analytics

Also known as: United Nations Standard Products and Services Code

Definition

The United Nations Standard Products and Services Code — a global taxonomy for classifying products and services.

Explanation

UNSPSC gives a standard, hierarchical code for almost any item, enabling consistent spend classification and cross-organisation comparison. Many procurement and catalog systems use it as their classification backbone.

Example

Each catalog item carries a UNSPSC code so spend rolls up to a common global standard.

Related terms

• Spend Taxonomy — A structured, hierarchical classification scheme used to organise spend into consistent categories.
• Spend Classification — The categorisation of each transaction into a consistent taxonomy so spend can be analysed by category.
• Catalog — A curated, priced list of items available for purchase, from which buyers requisition without needing a fresh quote.
• Data Quality — The accuracy, completeness and consistency of the data underpinning procurement analysis and decisions.

Frequently Asked Questions

What is UNSPSC?

The United Nations Standard Products and Services Code — a global taxonomy for classifying products and services. UNSPSC gives a standard, hierarchical code for almost any item, enabling consistent spend classification and cross-organisation comparison. Many procurement and catalog systems use it as their classification backbone.

Can you give an example of UNSPSC?

Each catalog item carries a UNSPSC code so spend rolls up to a common global standard.

Back to the procurement glossary | Procurement concepts | Contact us