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Set your metrics in order to calculate total savings. There are some metrics that you will be unable change for the current year, but you can update your Client-To-Supplier relationships as often as you like. You should keep this information up to date as accurately as possible.
Please note: this information will be requested by SSIP on an annual basis.
GUIDANCE FOR CALCULATIONS:
SSIP Industry savings are made up of 4 separate calculations:
The first 2 calculations relate to the services members offer to a supplier:
- –Direct savings = the number of DTS applications your scheme accepts x by the average reduction in fees you have entered as metric 1 in your Portal dashboard.
- –Indirect savings = are the number of hours to complete your H&S questions x £75 per hour x the number of DTS applications your scheme accepts.Average fee reduction example 1: If you have a range of fees calculate your average transaction value and take away your DTS discount. Average fee reduction example 2: If you operate a set DTS fee, use this figure. Average fee reduction example 3: If you do not charge a fee at all for DTS – use the average transaction value or full fee.
The next 2 savings are wider industry savings. Most registered members offer a service to clients or buyers to undertake SSIP assessments on their suppliers
Example: If the number of relationships in a database = 30,000
- Supplier Saving:
- No of assessments the suppliers haven’t needed to complete = 30,000
- Number of hours a supplier takes to submit application = 7
- Cost per hour for Supplier = £75
- Calculation = 30,000 x 7 x 75 = £15,750,000
- Client Savings:
- Client to supplier relationships = 30,000
- Number of hours a client takes to undertake an assessment = 3
- Cost for client to undertake assessment = £50
- Calculation = 30,000 x 3 x 50 = £4,500,00
If you have any questions please get in touch admin@ssip.org.uk