You can now view all of the missed savings on purchases you've made on Vetcove! Your Missed Purchase Savings is a calculation that shows the savings lost when you do not purchase an item for the cheapest price available from your connected vendors. Please note that this report is only available to select corporate clinics at this time and will only provide data on purchases made on Vetcove for your clinic!
To access this report, click on Orders > Analytics & Reporting > Purchase Audit, this is where you'll be able to view your Missed Purchase Savings.
This report provides the following information:
Price Paid per Item
Best Price Available per Item
Your percentage of Missed Savings displays how much of your total spend had an opportunity for savings that were missed out on. The total Purchase Error will show you the total dollar amount for your net loss across every item with missed savings. You can view where your clinic falls on the ideal Missed Purchase Savings percentage on the sliding scale at the top of the report.
This report can be exported and run for any date range. We recommend checking in with this report periodically to keep an eye on your missed savings on Vetcove!
After you've viewed your Missed Savings Report, there are a few steps you can take to prevent future missed savings:
Buy from the cheapest distributor next time for items that generated missed savings
If the pricing looks off, reach out to your corporate contact to ensure you are on the right pricing from your vendors
Check your Connect Suppliers page to ensure you are connected to all of the correct vendor accounts so you have the most accurate view moving forward
To view a video walkthrough of this report, click here!
Still have questions regarding the Missed Savings you are seeing?
Feel free to hit the chat icon at the bottom of your screen to speak directly with one of our team members!