Thought Leadership

Finance and Procurement Transformation for the Construction Industry

December 19, 2024

Finance and Procurement Transformation for the Construction Industry

Drive measurable value from your Source to Pay processes with our tailored solutions. Designed especially for the Construction Industry.

Construction businesses face unprecedented challenges. From skyrocketing costs to supply chain disruptions and changing regulatory compliance. The pressure is on to deliver projects on time and within budget. The consequences for those that can’t are clear. and its impacting businesses. In Australia alone, 1,400 construction businesses collapsed in late 2023. Finance and procurement leaders need full spend visibility and control to compete.

How can construction businesses drive automation and cost efficiencies without disrupting their operations? Our Source to Pay (S2P) transformation solutions are tailored to meet these challenges. We help you achieve spend visibility and control while driving measurable business value. All without disrupting your day to day operations.

We Understand the Construction Industry

Our team has had extensive experience working with different construction businesses. One thing we know is that each business is unique. We’ve seen construction businesses try to keep up with many changes in the industry. The shift towards green construction, changes in technology and economic instability all makes doing business that bit harder.

These changes exacerbate existing challenges that businesses are facing. Our team have seen construction businesses struggling with:

Fragmented Processes

Construction projects often involve many stakeholders and subcontractors. The procurement and financial processes involved can get messy. This fragmentation results in inefficiencies, and increased costs. Importantly, it makes tracking spending and managing budgets difficult and time consuming.

Manual and Paper-Based Systems:

Many companies still rely on manual, paper-based systems for procurement and finance management. This can lead to errors, delays and lack of real-time visibility into spend data.

Cost Overruns and Budget Management:

Unforeseen project changes and scope creep are common in construction, causing budget overruns. Managing and controlling costs becomes challenging, affecting overall profitability and financial health.

Supplier and Contract Management:

Managing the different suppliers and contracts can be a very difficult and time-consuming task. Without efficient systems in place, supplier and contract management can lead to delays. compliance issues and increased project risks.

Trusted by Leading Businesses Across APAC

Our team has over 30 years experience across finance and procurement automation. We’ve been trusted partners to many leading organisations across APAC.

S2P Digital Transformation – Turning Chaos Into Order and Value

Our team are Source to Pay experts and have worked with all business types and processes. Armed with our deep procurement knowledge we have a range of solutions designed for you. Our solutions address your key challenges and evolve your processes towards best practice. All while not disrupting your business. We’ve helped organisations across the region achieve measurable value. Our clients have enjoyed a range of benefits from our S2P solutions.

Streamlined Processes:

Our solutions integrate and streamline your fragmented procurement and finance processes. This gives you a unified platform to manage procurement, from sourcing all the way to payment.

Automation and Real-Time Visibility:

There are a lot of finance and procurement processes that can be automated . Automating these manual processes helps reduce errors and improve efficiency. You’ll also enjoy near real-time visibility into finance and procurement data. This enables you to make data-driven decisions – faster.

Budget Control and Cost Management:

With a unified Source to Pay platform you get full control of your spend. Advanced budget control features allow you to manage costs effectively. Driving financial discipline and financial and adherence to your procurement policies. All through a great and easy to use experience for users.

Supplier and Contract Management:

Our solution simplifies and automates the supplier and contract management process. You can automate compliance to your processes and regulations all while reducing risks.

Why Choose Us?

Source to Pay Transformation Expertise

We are a team of Source to Pay experts. We have helped many businesses transform their S2P processes and drive measurable value. We have a deep understanding of the construction industry and its unique challenges. Our solutions are tailored to your businesses specific needs ensuring a right-sized solution.

Integration Expertise

The key to getting full control and visibility over your spend is having a single source of truth. We know construction businesses have procurement and finance data in many different systems. We integrate and connect all your existing platforms and systems together. This ensures you can achieve that single source of truth and complete send control.

Our Focus On Value

Value is a common vision of what success looks like. It’s visibility. It’s savings. It’s user adoption. It’s compliance. It’s best practice. It’s all that combined. It’s what we define, together, as our shared goal. Value is what we measure, what we strive for.

Partnership Approach

To help drive value, we work with you in an open and transparent way. We will be alongside you for every step of the journey, sharing both the risk and benefits. If you succeed then we succeed. That’s what we call a partnership.

Our Approach: Delivering Measurable Value

We’re committed to transforming your finance and procurement operations through automation and optimisation. Our proven approach is designed to maximise your investment and drive tangible results.

We focus on delivering measurable value defined by your unique business goals. Spend visibility, cost savings, control or improved compliance, we’ve got you covered. Our collaborative, tried and tested approach ensures we’re aligned on your success.

Our three-step process – Define, Execute, Advance – guides you through the journey. From a tailored strategy to implementing technology and driving ongoing optimisation. Our team of experts ensures your project on time, on budget and exceeds expectations. Learn more about Our Approach.

What Our Customers Say About Us

Aaron Passfield Head of Procurement, HammondCare

“Valtatech’s unique offer and extensive cloud and digital transformation experience meant they were the perfect implementation partner for our Coupa Business Spend Management implementation project. Valtatech’s cloud-based eInvoicing technology also enabled us to set up a system with very little disruption to the business, our partners, or teams on the ground.”

Hanako Kato Corporate HQ General Manager, Konica Minolta Business Solutions Asia

“Valtatech has been an invaluable partner during the process of transforming our procure to pay (P2P) system. The project has helped us to reduce costs, identify risks and improve value delivery across the business; while providing the visibility and insights my team and I require to improve risk mitigation, due diligence processes and governance.”

Case Studies

Contact Us

Ready to transform your finance and procurement operations? Contact us today to learn more about our Source to Pay solutions. We can help you achieve greater control, compliance and cost efficiency today.

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