Displays your baseline spend on an item, service, category, or in general in Fairmarkit for a specified period of time.
When a Benchmark value is provided, Baseline Spend will reflect the Benchmark value. The Benchmark value may be imported from or calculated based on values in your purchasing application or manually entered on an event.
When a benchmark isn't provided, Baseline Spend will be calculated as the average of supplier responses, excluding any outliers.
If you drill into this value, you can review and download a list of events included in the calculation. This includes a breakdown for each event, including the RFQ ID (with a link), Request ID, Status, Created at Date, Title, Baseline Spend USD, Cost Avoidance, and Cost Savings.
| | Identified Savings |Displays the sum of identified, potential savings for your opened events. Identified savings is calculated at the line item level as Baseline - Lowest Bid. This value doesn't include alternative items. Identified savings example
If you drill into this value, you can review and download a list of events included in the calculation. This includes a breakdown for each event, including the RFQ ID, Request ID, Status, Created at Date, Title, Identified Savings, and Awarded Savings.
| | Awarded Savings |Displays the sum of awarded savings for your request for quote events. This value is calculated at the event level as baseline spend - awarded bid. This calculation only includes values where you saved money.
Awarded savings example
For the following example event, there are three awarded line items. The awarded savings calculation highlights saving. When an item is equal to or more than the baseline spend, it is zeroed in the calculation; we don't include negative values. Because awarded savings is calculated on the event level, there is a negative savings and the event does not include savings overall (zeroed).
Event vs. line item savings
While savings can be calculated on the event or line item level, the Fairmarkit standard dashboards use the event level calculation, which means we look at the lowest total response from a single supplier to find savings.
For comparison, line item level savings are calculated for each line item and typically show higher savings. However, this method doesn't allow you to see how the lowest full supplier response compares to other responses.
If you drill into this value, you can review and download a list of events included in the calculation. This includes a breakdown for each event, including the RFQ ID, Request ID, Status, Created at Date, Title, Identified Savings, and Awarded Savings.
| | Total Opened RFQs |Displays the total number of request for quote events that have been opened. This includes closed, awarded, and canceled events.
If you drill into this value, you can review and download a list of events. This includes a breakdown for each event, including the RFQ ID (with a link), Request ID, Created at Date, Status, Title, Requester Title, and Full Name.
| | # | Baseline Spend | Quote 1 | Quote 2 | Quote 3 | Line savings | | ------------------- | -------------- | ------- | ------- | ------- | ------------ | | 1 | $100 | $80 | $90 | $110 | $20 | | 2 | $100 | $110 | $100 | $50 | $50 | | 3 | $100 | $50 | $90 | $75 | $50 | | Total Bid Amount | $300 | $240 | $280 | $235 | | | Event level savings | | | | $65 | | | Line level savings | | | | | $120 | | # | Title | Item Baseline Spend | Item Awarded Amount (USD) | Savings (USD) | Savings zeroed (USD) | | ------------ | -------- | ------------------- | ------------------------- | ------------- | -------------------- | | 1 | Monitor | $500 | $500 | $0 | $0 | | 2 | Laptop | $1500 | $2500 | -$1000 | $0 | | 3 | Keyboard | $150 | $50 | $100 | $100 | | Event total: | $2150 | $3050 | -$900 | $0 | | |Item
Supplier 1
Average proposal
(baseline spend)
For awarded request for quote events, if the Benchmark was not entered, this value is calculated as the average of bid unit prices - awarded bid unit price. If a Benchmark was entered, this value will be $0.00.
If you drill into this value, you can review and download a list of events included in the calculation. This includes a breakdown for each event, including the RFQ ID (with a link), Request ID, Status, Created at Date, Title, Baseline Spend USD, Cost Avoidance, and Cost Savings.
| | Cost Savings |For awarded request for quote events, if the Benchmark is greater than 0, this value calculates as (Benchmark - minimum unit price awarded) \* quantity. If a Benchmark was not entered, this value will be $0.00.
If you drill into this value, you can review and download a list of events included in the calculation. This includes a breakdown for each event, including the RFQ ID (with a link), Request ID, Status, Created at Date, Title, Baseline Spend USD, Cost Avoidance, and Cost Savings.
| | Total Opened RFQs |Displays the total number of request for quote events that have been opened. This includes closed, awarded, and canceled events.
If you drill into this value, you can review and download a list of events. This includes a breakdown for each event, including the RFQ ID (with a link), Request ID, Created at Date, Status, Title, Requester Title, and Full Name.
| --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.fairmarkit.com/buyers/analytics/executive-overview/usage-over-time.md?ask=