Supplier review time calculator
Work out how many hours supplier reviews and supplier admin take your team each year, what that time is worth and whether a tool would pay for itself.
Supplier reviews take time, and much of it isn't the review itself: it's sending reminders to department heads, copying scores into one spreadsheet and building the pack for the meeting. Enter your own figures to see how many hours that admin takes in a year, what those hours cost and how that compares with a SupplierVault plan. Nothing you type leaves your browser.
How it's worked out
- Review admin hours a year = people × review cycles a year × (chasing hours + consolidating and pack hours).
- Other admin hours a year = (renewal tracking hours + certificate chasing hours) × 12.
- Hours a tool could take off = 70% of those hours. This is our assumption, not a measured result. Reminders, collecting answers and adding up scores can be automated; reading the answers, following up on problems and deciding what to do can't. If you think 70% is too high for your team, the result also shows the figure at 50%.
- Value of that time = hours a tool could take off × your loaded hourly cost. This is time your team could spend on other work. It only becomes a cash saving if you'd otherwise pay for overtime, temporary staff or extra headcount.
- The plan is the smallest SupplierVault plan that fits your supplier count: Essentials (£149 a month, up to 50 suppliers), Professional (£399 a month, up to 150) or Enterprise (£799 a month, up to 300). Supplier review cycles and questionnaires come with Professional and above, so if you run reviews the calculator picks Professional at least.
- The yearly price is 10 times the monthly price, because paying yearly gets you 12 months for the price of 10.
- Payback = yearly price ÷ value of the time saved each month. It's how many months of saved time it takes to cover a year's subscription.
What it doesn't count
- Supplier savings. Better reviews can lead to better prices or service credits, but we don't claim any, so none are included.
- Avoided problems, such as a missed notice deadline that auto-renews a contract, an expired insurance certificate or a bank detail fraud. These can cost far more than the admin, but they're too uncertain to put a number on.
- The review itself. The time people spend answering questions, reading answers and meeting suppliers stays the same.
- Setting up. Importing your supplier list, writing your questions and learning a new tool takes time at the start.
- Offers and add-ons. The free first month, founding customer offers and extra supplier blocks (£49 a month for each 25 more suppliers, which can be cheaper than moving up a plan if you're just over a limit) aren't included.
- VAT. Prices exclude VAT. SupplierVault isn't VAT registered yet, so no VAT is charged today.
If the result says the time saved doesn't cover the price, believe it. A spreadsheet and a shared mailbox may be enough for a small review programme. Read our comparison of SupplierVault and spreadsheets.
Supplier review cycles in SupplierVault come with the Professional plan and above. Each department scores its part, you get one combined score, reminders go out for you and submissions are locked once sent. Questionnaires can go to stakeholders and to suppliers, including ‘How is it working with us?’.