Skip to content
Contact us
  • There are no suggestions because the search field is empty.

POTENTIAL SAVINGS CALCULATOR

Potential Savings Calculator is designed to check Benchmarks per needed products in a real time together with savings users can get. This type of request is easy to set up and provides users with market price information that updates every day and helps to discover new suppliers.

There are two types of Potential Savings Calculator: Start for Few Items and Start for Unlimited Items.

The main difference between these two is that Start for Few Items offers the list of 100 most common items for users to choose from, while Start for Unlimited Items lets users upload an Excel sheet to track up to 10000 items.
Both types of requests let users set up alarms to get notified if market prices reach the level that users expect. Users can simply create an RFQ based on the list of items in Potential Savings Calculator.


Creating Potential Savings Calculator 

You should go to Create Request tab and find the section with Potential Savings Calculator.

There is a difference only on the first step of creating both types of Potential Savings Calculator, although there are obligatory columns for both types: Item Name, Cas Number, Quantity, Unit of Measure, Unit (e.g. 1/4/5.5) and Current Price, Current Price Currency and Supplier Price per Unit.

1. Setting up Potential Savings Calculator for a Few Items

Once you click Start for a few items, the system will direct you to the list of 100 most common items. You should select the ones you are interested in or search them in Search section. After you have chosen all necessary items, click button Proceed to save the changes and be able to continue.

2. Setting up Potential Savings Calculator for Unlimited Items

There are two ways you can upload the list of up to 10000 items: on the platform or via Excel.

You can download the draft, fill it in and upload it back for the system to check if the data is inserted correctly. The system will also ask you to define the type of columns you added if necessary. You should click Upload, after that the system will check if everything is inserted correctly and show you the table with all items and details about them you put into Excel file previously. 

You can also do it on the platform with the help of Add new item button. It`s important to complete the obligatory columns with needed data and click button Save under Item name. Users can edit information about items, add attachments and delete items with the help of buttons on the left from item names.


After you save the changes in both types of Potential Savings Calculator and click button Proceed, you will be directed to Opportunities tab.

There are several options available on this tab:

1. Buttonwill show you graphs for particular items, which reflect savings for specific periods: 1 day, 1 week, 1month, 1 year or the whole period.

2. Users can also use filters to search needed items and download the list of all items or selected ones.

3. Users can easily check Benchmarks for specific periods (30 days, 60 days, 90 days, 120 days), List of Suppliers who have previously quoted for selected items, Savings per Unit, Total Savings and Savings in %.

4. RFQ/RFP can be created based on the selected items. After selecting items, button Create new RFQ/RFP will be activated. After clicking this button, the system will process the selected items. After processing is done, users should continue with setting up an RFQ.

5. Tab Alarm

Here users can manage notifications about price changes and get informed about them at any time they mention for any item. In order to do so, users should click button Create Alarm.

It is important to mention item name, frequency of notifications, preferred days to be notified and value of change in comparison to the last period. 

After clicking button Save changes, the list of items with alarms will be displayed. It is possible to edit data after saving if needed.

Tab Benchmark KPI

On this tab users can check all statistical data based on the request with the help of graphs and pie charts regarding the following points: Savings, Benchmarks Availability Analysis and Available Benchmarks. These graphs can be downloaded as images. 

Tab Supplier KPI

This page reflects data with the help of graphs and pie charts regarding the following: Identified Suppliers, Supplier Distribution Overview, Products Overview and Supplier Coverage Overview.
The information can be also downloaded as images.

Documentation Tab

Here users can leave notes for colleagues who have access to a request and attach documents, which will be also available for other users within the company. 

Summary

Potential Savings Calculator is a useful tool to keep track of relevant market prices within a few clicks. Users can choose the items to track from the list of top 100 items or upload their own item lists for their convenience. It is easy to check up-to-date market prices, Benchmarks, Savings, Reliable Suppliers and create RFQ/RFP based on the list of selected items to get real offers with the best prices.