NIGP Commodity and Service Code (“NIGP Code”) is a universal taxonomy for identifying commodities and services in procurement operations for both public and private sector. It is available as a 3-digit class code, a 5-digit class-item code, a 7-digit class-item-group code, and a detailed 11-digit code. The NIGP Code is the solution that, when leveraged in combination with an effective procurement technology solution, ERP system or related procurement application, brings tremendous value and insight to procurement operations. The NIGP Code provides:
► Structure and consistency for procurement acquisitions, including requisitions, purchase orders, contracts and related purchase documents
►Foundation for category management
►Structure for categorization of spend management data
►Structure for spend data analytics for informed decision making
►Other
The Living Code
The Living NIGP Code is a dynamic version of the NIGP Code that is continually updated so that it is always current. This online, electronic version of the NIGP Code is updated as new codes are added and existing codes are changed to reflect current markets and advances in industries. This means that the latest revisions are always available through the customer's internet browser. In addition to this value-added service, NIGP Code provides an invaluable cross-reference to the United Nations Standard Products and Services Code (UNSPSC), the North American Industry Classification System (NAICS), and the Merchant Category Codes (MCC).
NIGP Code Licenses
The NIGP Code is commercially available through an annual subscription with a fee structure that is tied to the level of the NIGP Code required by the customer.
The NIGP Code is licensed, maintained and supported by NIGP Code & Consulting, powered by Periscope Holdings Inc. Periscope Holdings is the sole custodian and marketer of the NIGP Code under an ongoing agreement with NIGP- The Institute for Public Procurement. The NIGP Code has been implemented by 46 states and 4 Canadian provinces, is utilized by thousands of government entity employees, as well as by the private sector.
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