Procurement ROI Calculator
Calculate your potential time and cost savings from automating vendor specification analysis. All formulas and benchmarks are fully transparent with industry citations.
Number of people doing vendor comparisons
Fully-loaded cost (salary + benefits + overhead)
Per team member per month
Annual Cost Savings
$38,800
$3,233/month
Annual Time Recovered
776 hrs
97 work days
Per Comparison Savings
$404
8.1 hrs saved each time
Time Reduction
97%
8.3 hrs → 15 min
Ready to Start Saving?
Try SpecLens free and see real savings on your first comparison. Or explore our other free procurement tools.
Methodology & Data Sources
We believe in full transparency. Here are the industry benchmarks and research that power this calculator. For a comprehensive TCO methodology, see our TCO Calculator Guide.
Manual Review: 2.5 min/page
Based on legal/procurement benchmarks of 2-3 minutes per page for technical document review.
AI Speed: 97% Time Reduction
SpecLens processes specifications ~30x faster than manual extraction. Conservative estimate based on AI document processing benchmarks.
Fully-Loaded Labor Cost
Hourly rate should include salary, benefits, and overhead. Typically 1.25-1.4x base salary for total cost.
What's NOT Included
This calculator focuses on spec extraction/comparison time. It excludes: decision-making time, vendor communication, and contract negotiation.
| Source | Year | Finding | Used For |
|---|---|---|---|
| Salary.com | 2024 | Average Procurement Specialist salary: $92,460/year (~$44/hr) | Default hourly rate |
| GovLoop / Euna Solutions | 2024 | Average 4 vendor submissions per RFP project | Default vendors per comparison |
| Industry Benchmarks | 2024 | Document review benchmark: 2-4 hours for standard procurement documents | Manual review time calculation |
| AI Document Processing Research | 2024 | AI contract review: 26 seconds vs 92 minutes human (200x faster) | AI speed improvement baseline |
| Oxford College of Procurement | 2024 | AI reduces procurement process time by up to 60% | Industry benchmark validation |
| The Hackett Group | 2023 | World-class procurement: 10.7x ROI, 21% lower labor costs | ROI benchmark comparison |
| AI Procurement Research | 2024 | 39% reduction in sourcing cycle time with AI | Efficiency improvement validation |
| Procurement Industry Analysis | 2024 | Well-implemented procurement systems: 300-500% ROI within 18 months | Expected ROI range |
Planning & Budgeting
Solicitation Preparation
Vendor Submission
Evaluation & Selection
Contract Award
Contract Administration
SpecLens transforms the most labor-intensive phase (Evaluation) from a multi-day bottleneck into a 15-minute automated process, with full citation traceability.