In biologically inspired spiking neural networks (SNNs) neurons communicate by short pulses, called spikes. SNNs have the potential to be more power efficient than artificial neural networks (ANNs), thanks to the fewer computational steps required by the spike transmission and processing, as compared to the multiply-and-accumulate (MAC) operations with wide bit-vectors usually adopted in ANNs. We present the design of two types of SNNs with integrate-and-fire dynamics and single-spike per neuron operation, where neural communication is based on synchronous time-to-first-spike (sTTFS) and time-to-first-spike (TTFS) encoding schemes. In the considered time-encoded SNNs, the information is carried by the timing of the spikes with respect to a reference time. In 7nm CMOS technology both designs are synthesized as VHDL-based random-logic-macros (RLMs) and compared to an equivalent ANN design in terms of power consumption, latency and silicon area, using the Iris data set for inference. A cost function expressed as a product of energy consumption and silicon area is introduced to compare the three network designs. With respect to this cost function, it turns out that the SNN-TTFS implemented for the considered classification task outperforms the ANN used as baseline model.