Spend management for construction companies

Soldo | October 2022

Four ways construction companies can save time and spend smarter

We work with 1000s of construction companies across the UK to make their jobs a little easier. And that’s not just a line our marketing department came up with by the way – we literally ran the numbers.

Almost 14% of our customers work in construction and over 97% of those construction customers are small and medium-sized businesses.

So why are we telling you this? The point here is that we think we’ve got a pretty good idea of the challenges construction companies are facing when it comes to paying for the things that keep business running smoothly. For example:

• Your employees need to spend company money

• Paying out of pocket puts pressure on your team

• Chasing receipts is a waste of everyone’s time

• Month-end reconciliation is a pain in the neck

The good news is that we’ve also got a pretty good idea of how Soldo can help with these challenges, so let’s dive right in.

Your employees need to spend company money

Picture the scene: someone from your team is heading out for the day. He’s working on a driveway, shopfitting a café or renovating a city centre apartment – depending on your exact line of business.

Let’s call him Gavin, shall we? Gavin stops for fuel at Esso on the way, maybe he grabs something to eat too. A few hours later he needs to pop into Screwfix to pick up a few things. He puts the receipt in his pocket for safekeeping.

All of that spending is essential for Gavin to do his job – and a crucial part of the way you do business. But this simple scenario is not without it’s problems, so let’s break those down and look at a few ways you could use Soldo to solve them.

Head to the Soldo website to read the full article.