How Pleo helps tech companies manage spending and build trust in the workplace
You’ve heard it a million times before: there’s an app for everything. In fact, the number of new UK tech startups increased by almost 16% in the third quarter of 2020, according to Companies House data.
Most software companies out there are working to create innovative ways of using technology to simplify everyday tasks and to ultimately save time and money.
So why are some of these same technology-driven companies still relying on manual outdated methods when it comes to managing their business expenses?
How Pleo works for software companies
We issue smart company cards to businesses, giving either management or Finance the power to decide who gets a card, and what the spending limit should be.
Pleo digitises your business expenses by offering a real-time, centralised overview of where your money is going while ensuring your team can just get on with their job. And the best part? There’s no paperwork. No receipt chasing. No reimbursements.
So, you can rest easy knowing that every purchase is accounted for.
Seamlessly managing all your subscriptions
A recent study found that 71% of companies have at least one SaaS subscription with no billing owner.
Sreya Chatterjee from Dublin-based software company TerminusDB is clear on the benefits Pleo offers her team. It starts with recurring subscriptions.
“It’s great for our team to have the freedom to sign up to the tools they need – but you do need to keep track of what you subscribe to,” Chatterjee explained. “Things like whether you’re signing up for two similar tools that solve the same problem, and you need to choose one over the other.”
Real-time monitoring is the solution to saving money that’s being wasted on unused subscriptions. This doesn’t only make it easier for you to forecast spend, but also helps you make decisions on the best way to spend your company’s money when it comes to subscriptions.
Making your employees feel trusted
You hire talented people to do complicated jobs, so do you really want them wasting time chasing receipts?
While Pleo saves time, it also makes your team feel trusted, since you’re holding them accountable for company purchases.
Pleo cards can be set with custom spending limits before you hand them over to your team. That gives you full oversight of who is buying what, and how much for.
Your team deserves to feel valued at work, and that comes with its own benefits. Employees who feel trusted by their manager are 110% more likely to stay in a job than those who don’t, according to Harvard Business Review.
Not to mention, employees really shouldn’t have to pay out-of-pocket for things they need.
Improving your work culture
Our Pleo Hero, Ludvig Olsson, the CEO of Trickle, recently shed some light on what handling expenses was like before switching to Pleo.