Every great building starts with a solid foundation. Why should the financial systems of their makers be any different?

Modern construction companies require spend management tools that match the complexity and scale of their projects, giving real-time visibility, seamless integration and precise budget control.

Speedchain delivers precisely that. It offers a cutting-edge corporate card and spend management platform that empowers construction firms to streamline financial operations, enhance security and achieve unparalleled efficiency at a granular level.

“We are dedicated to providing our clients with an exceptional experience, making financial operations seamless and efficient. Our dynamic product roadmap evolves with direct client feedback, ensuring we deliver solutions that truly meet their needs,” says Daniel Cage, CEO.

Granular Control

Speedchain’s offering is built around a sophisticated commercial credit and debit card system supported by an advanced expense management framework. The platform seamlessly integrates modern business credit and debit cards, advanced reimbursement tools and real-time transaction tracking across all project phases.

At Speedchain’s core is a vertically integrated system that connects field operations, finance teams and third-party systems. More importantly, it integrates with the organization’s structure, offering stakeholders greater flexibility in user access control and providing real-time visibility into transactions.

For instance, the company allows team members to use Speedchain-issued cards for purchases at any retailer. Once a transaction is completed, users can take a photo of the receipt, attach it to the transaction and assign it to a specific project or cost code directly from their mobile device. Since Speedchain’s platform incorporates project phases, cost codes, cost types and work breakdown structures into its card-issuing system, construction teams can link every expense directly to a specific project, phase or task. This capability simplifies day-to-day operations and enhances financial accountability. By eliminating paper trails and time-consuming reconciliations, the platform simplifies expense management for field teams. Every purchase, from materials to operational expenses, is tracked and categorized instantly, streamlining both reporting and project closure. The platform also syncs card transactions directly with accounting and project management systems, giving no leeway for error-prone entries. This ensures that financial data is always accurate and up-to-date, which is especially beneficial for large construction firms managing multiple projects simultaneously.

Client-Centricity for the Win

Speedchain’s onboarding and integration process echoes its customer-centric ethos. Recognizing that no two construction firms are alike, the company invests significant time upfront to understand and address each client’s requirements.

Its consultative approach enables Speedchain to offer a smoother onboarding experience.

The process is entirely digital and efficient, with seamless API integrations connecting it to top-tier accounting and project management systems. Speedchain’s solution engineers also follow a white-glove approach, working closely with clients to configure account structures, job codes and cost codes in line with industry best practices. The process is meticulously designed to ensure clients can hit the ground running with a solution tailored to their needs.

“We are deeply committed to delivering the best possible experience for our clients in terms of both, functionality and costs. The platform’s bilingual usability and our decision to forego SaaS fees are steps in this direction,” says David Heyer, vice president of business development & marketing.

Post-onboarding, Speedchain maintains an open dialogue with clients, incorporating their feedback into product development and ensuring that the platform evolves in response to changing industry demands.

Real-World Impact

The effectiveness of Speedchain’s solutions is best illustrated through real-world results. The company has processed over two billion dollars in payments and has verticalized the construction industry.

Clients utilizing Speedchain have experienced a five percent or higher realized benefit thanks to improved controls, enhanced visibility, optimized workflows, efficiency gains for full-time employees (FTEs), and access to industry-leading rewards and benefit. But that’s just the beginning.

Speedchain has also made a significant impact in streamlining clients’ month-end and project closeouts. By providing real-time data throughout the month, the company eliminates the need for last-minute reconciliations. Clients report that this capability has dramatically improved financial reporting and boosted reliability.

The company offers advanced features like predictive coding, enhanced security and the ability to manage the card program proactively. Speedchain’s efficient use of real-time data enables users to control their whole financial ecosystem by issuing cards in real-time, dynamically setting spending limits and accessing modern financial tools — all at no additional cost.

Solid Security, Exceptional Flexibility

Speedchain’s solutions and services are complemented by a strong focus on data privacy and security. The company has developed an advanced payment framework that provides robust controls over spending behavior. To date, it has prevented more than 10 million dollars in duplicate payments, highlighting the platform’s effectiveness. Using AI-powered pattern recognition, it identifies anomalous transactions in real time, alerting finance teams to potential issues.

Program administrators can even set specific limits based on factors like merchant category, geographic location and transaction amount. These controls can be adjusted in real time to provide unparalleled flexibility and security for construction companies managing diverse teams and projects. The company’s proactive approach to security effectively protects corporate funds and enhances operational efficiency by giving finance teams greater confidence in their spending controls.

With its client-first approach and commitment to innovation, Speedchain is raising the bar high for optimized financial operations in the construction sector. Its industry-leading features and usability have elevated the platform beyond being just an expense management tool. Today, it is a transformative solution for the construction industry. By combining innovative technology with a deep understanding of industry-specific challenges, Speedchain has created a platform that empowers construction firms to operate more efficiently, securely and profitably.