20 October 2021
Balancing the needs of on-site and office requirements is never easy, particularly when it comes to finance.
Construction teams need to get the job done quickly; finance teams need careful oversight of what’s been spent and why.
Avoiding hassle for construction teams
Construction sites are busy places – they don’t exactly lend themselves to paperwork. Costs are rising, labour shortages are adding pressure and teams are feeling it: the last thing they need is messing about with unnecessary admin.
But as any builder knows, unexpected expenses crop up all the time. Teams need the freedom to purchase what they need to work efficiently and avoid delays (not to mention buying fuel and paying for parking if they’re on the road). And ideally, they need to be able to do all this without being out of pocket. Managing all of that translates to piles of paper receipts, and a job site is hardly the easiest place to keep them in order.
Making matters worse, every hour spent filing receipts back in the office is an hour that could’ve been spent elsewhere. To really ramp up efficiency, on-site teams need admin hassle and expenses issues removed – leaving them free to crack on with the job.
Finance teams need control
That’s all well and good, your finance team might be thinking. But we can’t just give them carte blanche…
It’s a valid concern. While construction teams need flexibility, finance teams need control over what is being spent across the business. Giving construction teams total freedom to spend creates a lot of risk, and with money being spent in a range of locations by different people, fraud is always a worry.
But the thing is, everyone has the same end goal. Finance teams also want to enable the project to run on schedule without payments, admin and expenses getting in the way. And if manual paperwork is inconvenient for on-site teams, it’s a real headache for the team that actually has to process and pay those expenses.
So – how do time-pressed construction companies balance these two conflicting needs, solve cashflow challenges, improve efficiency and get a better view of spend?
A solution for everyone
Allstar Plus is the answer that makes life easy for everyone.
- It’s a flexible, combined fuel and expense card that makes spending on the road and on the job much easier than a fuel card alone – one card that works for everything, instead of multiple different cards bringing confusion and inefficiency.
- It helps finance teams solve wider cashflow challenges, providing a flexible credit line with up to 44 days interest-free credit on all purchases. This flexibility is not just important when onsite teams need to quickly buy extra materials for a job, but also when the finance team has to bulk buy scarce supplies, or pay suppliers.
- It gives finance teams the ability to control who spends cash and where they spend it.
- It offers access to effortless end-to-end reporting and smart cashflow analytics, bringing efficiency, simplicity and control to construction company finances. This oversight helps businesses avoid project and spend overrun, provides agility to scale up projects quickly, keeps jobs moving on time and means teams have the tools they need.
- Allstar Plus is powered by Visa, ensuring widespread acceptance at retailers and merchants.
- It offers a clear view of costs when working with a large number of partners and suppliers, and reduces manual tasks and staff admin via the use of digital tools.
- As simple to use as a normal credit card, it’s not just for the digital natives of the team.
Want to find out more about how Allstar Plus can help you balance the needs of every team in the business? Explore more here or get in touch.