For companies that engage with different organizations and subcontractors for work, it can be difficult to understand and get a clear picture of all the true costs associated with doing business. Companies that are managing large capital budgets and multiple crews for their projects may need to engage with contractors in order to get their work completed.
These contractors often have a built-in markup when they submit bids for work that helps ensure they’re covering their bases. While this markup is a given, there are ways to reduce these unnecessary costs and have a better understanding of actual spend by partnering with LodgeLink. LodgeLink’s technology provides the control, visibility, and cost tracking mechanisms required to manage major project accommodations effectively through one central platform.
Use reporting to analyze and reduce project costs
These contractors often have a built-in markup when they submit bids for work that helps ensure they’re covering their bases. While this markup is a given, there are ways to reduce these unnecessary costs and have a better understanding of actual spend by partnering with LodgeLink. LodgeLink’s technology provides the control, visibility, and cost tracking mechanisms required to manage major project accommodations effectively through one central platform.
Set up for success: Payment IDs and Tracking Codes
By directing workers and crews to book through LodgeLink, companies can eliminate this portion of the subcontractor markup for accommodations. Through assigning appropriate Payment IDs and Tracking Codes, companies can easily manage their accommodation budget and help keep their costs down. This ensures organizations are only paying actual costs.
These Payment IDs and Tracking Codes also allow companies to group and bucket spend appropriately. Utilizing unique codes for your branches, crews, subcontractors etc. empowers organizations to manage their costs more clearly. This separation of spend allows companies to make more informed budget planning decisions.
These Payment IDs and Tracking Codes also allow companies to group and bucket spend appropriately. Utilizing unique codes for your branches, crews, subcontractors etc. empowers organizations to manage their costs more clearly. This separation of spend allows companies to make more informed budget planning decisions.
