Home Finance Soldo Cares – Expenses without the stress, care without compromise

Soldo Cares – Expenses without the stress, care without compromise

by Lisa Carr

Tina Sen, Head of Marketing UKI, Soldo

More tech, less admin – and a care sector fit for purpose

The problems in the care sector are well documented. Hundreds of thousands of vulnerable people can’t access care (and this demand will increase as our population ages).

At the same time, we have a shortage of carers. Staff vacancies in care in England increased by a record 52% in 2022, with 1 in 10 posts vacant, according to The Health Foundation.

While care companies try to plug this skills gap, they must now contend with a wider economic malaise. Inflation and supply chain issues have increased costs. Energy bills are through the roof.

All of these issues are exacerbated by the care sector’s slow embrace of technology. Firms are often old-fashioned, doing things in an analogue style and many finance teams still do routine tasks that can be easily automated.

These issues have hampered efficiency in care for a long time. But now, as the care crisis deepens, fixing these structural problems is crucial.

  • How can technology help?

We must begin today. Yes, a long-term solution will involve government support. But as we well know: political difficulties have stymied change. Commissions and reports have come and gone. And yet, we remain distant from a political consensus on how to proceed.

So while the wheels spin in Westminster, the care sector can take the first proactive steps. First stop: Grasp the digital technology available to make life easier and end inefficiency. It’s not the only answer – but it’s a big, quick win for the care sector.

A prime example is expense management. Right now, this process is arduous and manual – and harmful to both carers and finance teams.

Staff spend out of pocket (and then face long waits to be reimbursed). And finance teams have no clarity while wasting “two days a month” (as one of Soldo’s 100+ care clients recently told us) on expenses admin.

An expense management platform gives this time back. From days spent at month-end chasing down receipts and matching them to transactions. To a process lasting less than an hour.

Join our upcoming webinar

We want to get care firms on the march. And with intelligent tech adoption, finance teams can take the lead on making UK care future ready.

Unsure where to start? Join our upcoming Soldo Cares webinar with Care Talk:

Related Articles