Blu Sky Chartered Accountants: Why we recommend Pleo to clients
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.
One of the main problems that clients and accountants have are obtaining receipts. Here at Blu Sky, we are becoming paperless with over 90% of records coming in via the cloud. Therefore, we are always on the lookout for new and upcoming applications which can benefit both our clients and ourselves.
We first discovered Pleo due to one of our clients looking for a solution to get rid of numerous company credit cards as well managing cash flow. Pleo has the capabilities of addressing these issues but giving the necessary flexibility to employees to complete day-to-day activities.
How does Pleo benefit our clients?
There are various benefits that our clients have received from using Pleo:
Setting Limits on Spending:
For our clients that mainly focus on cash and maintaining a healthy bank balance, they can limit how much a particular person can spend. Although setting limits may be seen as a negative, the fact that employees have been given Pleo cards gives them more authority and responsibility.
The analytics feature in Pleo has enabled clients to see a variety of important data, which can help them manage their business.
First of all, there are graphs which shows where most of the company money is getting spent. This could range from Food and Drink to travel expenses. The availability of this data has helped clients see where savings could be made. For example, if a client has spent the most on train tickets they can look into purchasing train tickets earlier in order to reduce the cost.
Secondly, the analytics dashboard shows clients which users forget to upload receipts. This has been used by clients to communicate back to their employees and highlight the importance of obtaining receipts. Finally, the analytics dashboard also shows which supplier receives most money. Depending on the amount being spent we have highlighted to clients that using this information may mean they could negotiate discounts due to consistent service.
No One is Out of Pocket:
This is probably the main benefit for clients’ employees. Having the ability to save their own personal cash in order to maintain their own personal cash flow is a weight off anyone’s shoulders. Also, this will cut out the headache of employees chasing for expenses.
How does Pleo benefit Blu Sky?
Here at Blu Sky we are big advocates of the accounting software Xero. Therefore, the fact Pleo links with Xero and has an easy to use functionality makes our jobs easier. It saves myself and my fellow employees time, instead of going through every single receipt, only to find out that some receipts are missing.
Pleo’s website shows the transactions just like a normal bank account. And with a few clicks of a button the transactions appear in Xero just like a bank feed, with the relevant invoice/receipt attached. The bank transactions show straight away on Pleo meaning that month end is not delayed, and work can get done in a timely manner. Pleo’s ability to link to Xero’s chart of accounts means that the time taken to code every single transaction to the relevant account code is reduced by more than half.
Pleo also allows us to have an accountant dashboard. Meaning that one user can access the data for all their clients. This benefits Blu Sky as it avoids having multiple logons. Also, this is beneficial as it guarantees that if one Blu Sky staff member is off another can pick up their work if necessary. Pleo has reduced my workload by half meaning that I have the time to give my clients more time to focus on their business, whether that is through budgeting or processes.
The phrase saving people time and money is spoke about on many occasions, however Pleo is the product that tackles that phrase. With its quick and easy to use interface as well as invoice reminders this product is one of the best out there for companies and accountants.
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