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Tough Leaf, a leading provider of small and diverse business procurement solutions, has launched Tough Leaf ClearSpend, a financial reporting tool designed to provide visibility into spending with certified small and diverse vendors at both the company and project levels.
ClearSpend allows organizations to track and report payments to small, local, and diverse suppliers and subcontractors, ensuring compliance with Federal, State, and Local goals. By centralizing data, it offers a comprehensive solution for generating spending reports and maintaining compliance to avoid penalties.
“Tough Leaf ClearSpend was built to solve a critical need in our industry,” said Wissam Akra, Founder and CEO of Tough Leaf. “It allows companies to accurately monitor their spending with small and diverse companies and deliver the concrete evidence stakeholders need, all while reducing administrative burdens.”
ClearSpend outperforms traditional solutions by maintaining current certification records on behalf of contractors, eliminating the need for subcontractors to manually upload certification updates. Tough Leaf’s platform is the most extensive data source of certified small, local, and diverse businesses in the U.S.
Key features of Tough Leaf ClearSpend include:
Comprehensive Nationwide Data
Tough Leaf manages certification records for all certified small and diverse businesses in the U.S.
Real-Time Certification Tracking
The platform is updated twice a month to ensure accurate certification status.
Proactive Alerts
Clients receive notifications when a subcontractor’s certification status changes.
Seamless Reporting
The platform ensures accurate and up-to-date spending reports to maintain compliance and achieve diversity goals.
Insightful Dashboards and Financial Analysis
Clients can track company-wide spending and analyze data by project to monitor payment progress and utilization goals.
ClearSpend has already helped industry leaders gain greater visibility into their procurement efforts. For example, an ENR Top 10 General Contractor initially estimated spending $350M with small, diverse firms but discovered the actual amount was closer to $1.4B using Tough Leaf ClearSpend, providing unmatched transparency.
About Tough Leaf
Tough Leaf is committed to driving economic growth through innovative compliance solutions that simplify the connection between businesses and certified small and diverse vendors. For more information about Tough Leaf ClearSpend, contact hello@toughleaf.com.