Machine learning based systems and methods for identification of transaction category from coded erp data

Abstract

A machine learning based (ML-based) computing method for identifying transaction categories from enterprise resource planning (ERP) data, is disclosed. The machine learning based computing method includes steps of: receiving inputs from electronic devices associated with first users; retrieving first data associated with first transactions from databases, based on the inputs received from the electronic devices associated with the first users; generating features associated with the transaction categories based on the first data associated with the first transactions; identifying first transaction categories based on at least one of: the first data associated with the first transactions and the features associated with the transaction categories, by clustering based machine learning models; identifying second transaction categories based on pre-configured rules; and providing an output of at least one of: the first transaction categories and the second transaction categories, to the first users on user interfaces associated with the electronic devices.