From software and equipment to travel and services, the old axiom still rings true – you have to spend money to make money. However, actually spending money as a company can be a tricky business. It creates the need for expense reports, spending management, financial oversight – not to mention physical cards that need to
Pleo is not just another company card. Paired with the smart technology behind it, Pleo makes the whole process of company spending a lot easier for the whole company. Employees are often the ones extremely delighted by the fact of not doing expense reports anymore. However, it’s our major focus to make sure the product not
Manual reporting system may seem like the ideal solution for business owners who feel that their budget won’t cover an automated system, on closer inspection it comes with huge costs in lost productivity and expense fraud.
As your company grows, so does the number of expenses. Staying on top of spending will get harder, this is why it’s important to put in place tools and policies that make sense.
Research shows that employees working at companies like Netflix or Google are on average 40% more productive. This is in big part due to eliminating organisational drag like internal processes or policies. Including the one about expense reports.
Advancements in payment technology, business processes, employee behaviour and compliance requirements are changing how company spending is done. As a result, we are seeing a massive shift towards the elimination of expense reports.
Whilst it theoretically seems like a good idea to automate your expense processes, without concrete figures to demonstrate the ROI, it’s difficult to convince yourself or others to make the jump. So, is your current manual process really that cost-efficient?
Matthew Booth from Blu Sky Chartered Accountants, one of our accounting partners, explains the benefits of Pleo for both, their practice and their clients, in this guest blog post.