Hi! You might have a look at the articles from JMP Discovery this year. They might give you some additional thoughts on how to approach your problem.
Did you try using the "All But Last Word" option from the Recode hot spot dropdown? Or am I not understanding your question or desired outcome correctly?
Yes, that is a great idea for the instances of "123 Co" vs "123 LLC". However, what happens when I have something like "1st Choice Bank Services" vs "First Choice Bank". Is there another setting in Recode I could use that would still group those company names together?