The Savings module is used to track vendor related disputes and other opportunities for savings, such as recommendations or service changes. The savings items allow you to track expected vs. actual savings amounts, ongoing commentary about the savings, and the status of each savings item.
Where do we capture disputes?
All savings opportunities are captured in the Savings Dashboard module. Here you can create new items, edit existing savings, and monitor the status of the savings.
Where do we identify savings?
Contract Compliance
Savings can be identified through the Contract Compliance module & the platform audit done against what charges appear on the invoice each month. In order to have an effective audit each month, we need to have your vendor contracts uploaded in the platform and billing elements mapped to the contracted rates. Contract setup and maintenance is completed in the Contracts module; the savings output of that is captured in the Contract Compliance module within Savings.
This module will also show suggested Recommendations, which are defined in the Add/Modify Recommendations tool. The Asignet team created pre-defined rules to capture billing activity scenarios and provide next steps that can reduce cost.
Lastly, this module will reflect valid and tracked disputes per vendor so you can see what was captured in the Savings Dashboard.
Validation Checks & Audit Reports
Savings can be identified through the various validations that are automatically conducted by the platform and provided to you in a report-type page. We’ve highlighted some reports and validations for you here:
How are savings classified in the platform?
Savings Issue Type | Issue Sub-Type |
|---|---|
Dispute: money that should have not been charged to your account | Contractual: the savings are rooted in the vendor contract; the vendor must honor the contract rates |
Inquiry: research efforts to determine if charges can be avoided or money recovered | Inventory: the savings is based on an inventory audit, like disconnected inventory still billing or active inventory tied to a closed location. |
Recommendation: an optimization effort to save money via one-time recovery or ongoing avoidance | Usage: the savings is based on usage optimizations or recovery of invalid fees |
Tariff Dispute: the savings is based on a tariff dispute with the vendor | |
Other |