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Supplier cost documents, a calculator and material samples, illustrating cost reduction

Cost savings tracker template

A savings register that records baselines, owners and status so finance can sign off what was delivered.

A cost savings tracker records every cost reduction initiative in one place: what the baseline was, what the new price is, who owns it and whether finance has agreed the saving. Without it, savings claims are hard to verify and easy to dispute.

This template separates forecast, contracted and realised savings, so you can show the difference between a promise and money that has actually stayed in the business. A summary tab totals savings by category and status.

Free to download. Available as Excel.

What's included

  • Savings register with baseline, new price and volume columns
  • Status stages: idea, in progress, contracted, realised
  • Owner and finance sign-off fields
  • Automatic annual saving calculation
  • Summary by category and status
  • Guidance on agreeing a baseline with finance

How to use this template

  1. Agree with finance how baselines will be set, for example the last price paid.
  2. Add each initiative to the register with its owner and category.
  3. Enter the baseline price, the new price and the annual volume.
  4. Move each line through the status stages as it progresses.
  5. Ask finance to sign off savings before marking them as realised.
  6. Review the summary tab in your monthly management meeting.

Frequently asked questions

Cost reduction lowers what you pay compared with the baseline. Cost avoidance prevents an increase, for example resisting a supplier price rise. Track them separately, because only cost reduction shows up as a lower cost in the accounts.

Finance should agree the baseline and confirm the saving, so the figures are trusted by the board. The person delivering the saving should not be the only one approving it.

Many businesses count a saving for 12 months from when it starts, then treat the new price as the baseline. Agree the rule with finance and apply it consistently.

Need help putting this into practice?

Every engagement is managed by our founder, starting with objectives agreed with you. Book an introductory call to see how our cost reduction work could help.

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Last updated 22 October 2026