UK Businesses Lose £37 Billion Every Year Through Poor Spending Controls Reveals Soldo
Lack of visibility around cashflow impacts pandemic recovery efforts
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LONDON, March 15, 2021 /PRNewswire/ Soldo, leading European pay and spend automation platform today unveiled a new Coleman Parkes study it commissioned which found that the UK economy loses around £37bn a year through poor business spending controls
[1]. While an astonishingly high figure, the UK is not alone. Weak spending controls were reported to be costing European businesses £301 billion, with businesses in Germany losing £54bn a year, while France and Italy also reported sizeable figures (£37bn and £26bn respectively).