Sort of, but not really:

Once, the conference hotel was a Sheraton, and a room was available for $145 or so, or I could use 3000 points.

I bought 3000 points on my credit card from Starwood, charging the company $105, and then of course immediately booked a room for 3000 points. So the company saved a few bucks.

But I deliberately avoided using my own points. For this transaction, buying and using points as a "currency" was a cheaper way.

I would not suggest trying to put a value on your own points.