Accounting software provider FreeAgent has partnered with Pleo, a spend management platform, to support UK SMEs in daily expense management.
FreeAgent integrated Pleo as its expense management partners to enable simple syncing of expenses, card transactions, receipts, and attachments, complete with categories and VAT. This automatic approach aims to eliminate manual data entry, eliminate the need to ask employees for missing information, and ensure more accurate and up-to-date books.
Helping SMEs with better expense management
Pleo enables corporate clients to issue virtual or physical company cards for employees while having full control over spending limits and rules. Transactions are tracked automatically, categorised and matched with a receipt in Pleo, then synced into FreeAgent. This process offers business owners a clear view of spending across the company for less financial admin, as teams have a better, real-time picture of where money is being spent throughout their operations. This offers SMEs more time to focus on growing their business.
FreeAgent believes that SMEs could gain back the time previously lost on keeping track of spending, especially when different individuals are making the purchases. The alliance with Pleo helps with this by recording expenses and sending them directly to FreeAgent without the need for receipts or spreadsheets. Working in the background, the alliance helps businesses focus on running their operations and growing their reach.
Pleo shares positive sentiments regarding the alliance, saying that FreeAgent shares its vision to support small and medium businesses with simple and convenient financial tools. The initiative is a step towards simplifying workflows and unlocking better value for customers, and the company looks forward to seeing the impact of the collaboration.
The move comes after Pleo launches its multi-currency accounts to simplify global spending at scale and minimise funds lost to foreign exchange fees for companies. With the rollout, businesses can hold and spend up to six currencies from a single Pleo card, eliminating the expense and complexity of cross-border transactions.
