Were in the early planning stages of a project to organize and automate our regression testing scripts. Our sponsor wants us to quantify the percent or number of hours we can expect to reduce in the time the current SME or COE folks take to do that same testing manually now. If anyone can point me to some industry statistics we could use especially for a ERP(SAP) shop that would be very helpful. If you have any real-world experience and information that would be even better. Thank you.

A simple answer to this question is "Yes."  This all depends on what methodology you use, how advanced your Automation Engineers are and what type of Framework you use or do not use.