Savings

The SpendInsight data pack reports on four types of savings:

  1. Price variance - where the the same product is bought from the same supplier but at different prices.
  2. Price benchmark - compares the average unit price achieved with other organisations that participate in the benchmark.
  3. Contract adherence.
  4. Contract opportunities - for example where framework contracts are available.

The SpendInsight price benchmark is designed to identify those areas where real savings can be achieved. The benchmark price is based on the median quarterly average unit price achieved in each participating organisation, giving a broad indication of both poor and good areas of purchasing. The SpendInsight price benchmark is available to all organisations who are wish to participate, and all data is anonymised so that one organisation cannot reverse-engineer the purchasing information of another from the SpendInsight data pack.