SupplierVault keeps a savings register so you can show what procurement and supplier management have actually delivered. Each saving records what you were paying (or would have paid), what you pay now, whether it's a hard cash saving or cost avoidance, the supplier, the area and the date.
Hard savings and cost avoidance
- Hard saving (cash): you now pay less than before, such as a renewal at a lower price.
- Cost avoidance: you avoided a cost you would otherwise have had, such as capping a price rise or awarding below the approved budget.
Three ways savings get in
1. Log one by hand
- Open the supplier, go to the "Performance and relationship" tab and find the "Governance" section, then "Savings".
- Describe it, for example "Renewal escalator cut to 2%".
- Choose "Hard saving (cash)" or "Cost avoidance".
- Enter "Was" and "Now". "Was" must be higher than "Now".
- Click "Log saving".
It's dated today, in the supplier's currency, and tagged with the supplier's current area.
2. Automatically from a sourcing award
When you award a sourcing event and the winning price is below the approved budget, a cost avoidance saving is added: Was = budget, Now = winning price, with the note "Awarded below approved budget: {event}".
3. From a verified service improvement
When a service improvement reaches "Benefit verified" with a benefit actually achieved a year, click "Add to the savings register". It's recorded as a hard saving if the benefit type is "Cost saving", otherwise as cost avoidance, worth the benefit achieved a year. See Service improvement.
How totals are worked out
Example: a renewal was quoted at £52,000 and you agreed £47,500. Logged as a hard saving: Was £52,000, Now £47,500, value £4,500.
Totals appear in:
- Dashboard: "Savings · 12 months" and the chart "Savings delivered · last 12 months", split by area into hard savings and cost avoidance, with a table of each saving.
- Category plans: "Savings delivered, 12 months" against the area's target.
- QBR pack: "Savings recorded this quarter" for the supplier.
The Service improvement page has its own "Benefits verified, 12 months" total, which counts verified improvements whether or not they've been added to the savings register.
Which plan includes it
Savings are logged in the Governance section and come from sourcing and service improvements, which are all in the Professional plan and above (and the free trial).
Good to know
- There's no separate savings page or report: use the Dashboard table, category plans, the QBR pack, or "Download all data" for a full list.
- Once logged, a saving can't be edited or deleted, so the register stays trustworthy. If you make a mistake, note it in the supplier's history and log the correct figure.
- Marking a category plan opportunity "Delivered" doesn't create a saving by itself.