Every construction project will include surprises, complications and unexpected costs - maybe poor drainage, old foundations, even roman mosaics.
There’s always something, which makes forecasting and financial planning notoriously difficult at the best of times.
But with costs unpredictable, and the employment market more competitive than any time in living memory, this is a turbulent time to be in construction. There’s no shortage of work, but with margins are under more pressure than ever and sector insolvency up by 30%, how many complications can you absorb?
Riding the cost avalanche
A missed specification, higher than expected transaction fees, increased deferred payment interest, or a spike in material costs. If they all land at once as a cost avalanche, how can UK construction firms ensure their cashflow is protected?
This is one of the reasons UK builders are increasingly embracing the security of all-in-one business credit solutions like Allstar.
With easy access to capital in the event of an emergency, Allstar lets you keep control of the cash going out of your business, pay suppliers up front and take advantage of up to 44 days interest free credit* rather than incurring deferred payment costs.
The solution gives builders the freedom to negotiate the best deals, and with a flexible all-in-one-payments platform, you won’t be hit with any unexpected charges.
Total control. No surprises
Consolidating all payments onto a single platform also brings the added benefit of total visibility. Where you have multiple crews on different jobs, money could be flying out in every direction, and Allstar’s simple dashboard view of spending is it possible to keep track, control and manage what’s going out of your business.
In this way, the Allstar spending solution enables builders to keep track of costs on a moment-to-moment basis, rather than receiving the bad news days or weeks later.
Allstar Online is a live dashboard that generates a real-time view and eliminates potential cashflow problems and nasty surprises by revealing overspends, inefficiencies and mistakes quickly, nipping them in the bud before they have a chance to grow into full blown emergencies.
*Subject to status and full credit check
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