Savings

How is standard savings calculated?

Standard savings is calculated by comparing the lowest supplier response to the Benchmark value. The Benchmark value is the reference price that you provide when you create your event.

If there isn't a Benchmark value, the lowest response is compared to the average value of all supplier responses received. For multi-round events, this would be the average value of all supplier responses received in the first round of the event.

Are there additional savings calculations used in Analytics?

Many of the analytics reports also include calculations for awarded, identified, and missed savings. To review a list of common calculations used in Analytics, see Analytics calculations.