This article is intended for buyers. If you're a supplier, check out our supplier help articles here.
This article covers:
What is the Spend Tab?
The Spend tab is a new section found within the navigation bar of each individual request. The Spend tab allows you to gain better visibility over your spend and see all savings achieved from each awarded request.
You have the flexibility for these savings to either be inputted manually, or to choose from two different calculation options where DeepStream will work this out automatically for you. Learn more about this here.
✏️ Please Note: The Spend tab is only visible and editable for the Owner of the request or a Superuser for Buyer companies.
If you are running an RFI and there is no budget or spend associated with this request, you can disable this function by clicking the red X Disable button on the top right hand side.
✏️ Please Note: If you choose to Disable this, all previously-entered data will be removed and this cannot be undone.
How to use the Spend Tab
Budget Section
The first section on the Spend page is the Budget section. This allows you to confirm if the request has a budget or not and for you to add the budgeted total value.
Click Edit to open this section.
Where you're asked "Does this request have a budgeted value?" you have 2 options, please answer yes or no.
If yes, you must provide a value.
If no then a value is not required and the status will appear as disabled.
If you select Yes, you will be asked to provide the Budgeted total value.
Select your preferred currency and input the value.
Click Save.
What happens when a Request is closed and no suppliers were awarded?
If this happens, no total value or savings will be calculated.
What happens when a Request is awarded?
The rest of the page will become enabled once the request is awarded and the total value and savings can be calculated. The remaining sections to fill out and review are as follows:
Final Value Section
The Final value section represents the total value of the request, which is automatically calculated based on the combined "Bid total" for all awarded suppliers, taken from the "Total cost" across all line item sections.
The detail in this panel is taken from the information you provide in the questionnaire once a request is awarded. For historic requests, the calculated value should appear but you will need to confirm it:
Click Edit to open this section.
Where you're asked "Does this accurately reflect the request's value?" you have 2 options, please answer yes or no.
If yes, specific savings will be calculated and displayed
If no, specific savings are not calculated or displayed and you will see the below message.
3. Click Save.
Total Savings Section
The Total savings section shows the combined savings you have achieved for the request which will feed into your company reporting dashboard (coming soon).
Click Edit to open this section.
Where you're asked "Can total savings be provided for this request?" you have 2 options, please answer yes or no.
If no, the savings will not be shown and you will be asked to answer "Why can savings not be provided?"
If yes, you will need to set up the Method used to calculate the savings and to confirm the accuracy. The 3 possible calculation method options are:
"Sum of all specific savings": Line items (Response per stage) + Auction = Calculated savings
"Budgeted value vs Final value": Budgeted total value - Final total value = Calculated savings
"Manually provided": You will be asked to describe how these savings have been calculated e.g. Comparing highest initial bid (not average) to final awarded bid
Calculated Savings: The savings calculation method can be adjusted at any time for awarded requests by clicking the Edit button on the right hand side of the Total savings section. This will also cause the savings calculations that feed into your company reporting dashboard to be adjusted (coming soon).
✏️ Please Note: You must tick the Yes checkbox to confirm that the calculated savings value accurately reflects the total savings for this request, before saving.
Specific Savings Section
The Specific savings section outlines your savings achieved from individual parts of a request that involve pricing fields. The information that appears here will vary depending on which pricing method was used for the Request. You will not be asked to input any information in this section.
Up to 3 sections may appear:
Line items - Single response: This section appears where 1 or more Line Items sections are added with a "Single response".
Line items - Price per stage: This section appears where 1 or more Line Items sections are added with a "Multi-stage response".
Auction: This section appears where an Auction stage is enabled and the auction ran successfully.
This section will enable you to get a better deep dive into how successful the structure of your requests are, and where there is room for improvements to increase savings. Reach out to our customer success team who can guide you in achieving more savings for your requests.
For any further queries, please use our live chat function or email: support@deepstreamtech.com