FreeAgent, an accounting software provider, has teamed up with Pleo, a spend management platform, to assist UK small and medium enterprises (SMEs) in handling daily expenses more efficiently.
By integrating Pleo into its services, FreeAgent aims to simplify the process of expense tracking and categorization. This integration allows for seamless synchronization of transactions, receipts, and attachments, including VAT and category information. The goal is to minimize manual data entry and ensure that all financial records are up-to-date and accurate.
Better Expense Management for SMEs
Pleo offers corporate clients the ability to issue virtual or physical company cards to their employees while maintaining full control over spending limits and rules. All transactions are automatically recorded, categorized, and linked with receipts in Pleo, which then syncs this information directly into FreeAgent. This streamlined approach provides business owners with a clear overview of their spending across the organization, reducing financial administrative burdens.
This partnership is designed to help SMEs reclaim time that was previously spent on tracking expenses, especially when multiple individuals are making purchases. The integration automatically records and transmits expenses to FreeAgent without requiring physical receipts or manual spreadsheet entries. This background process allows companies to focus more on running their operations and expanding their reach.
Pleo’s Positive Outlook
Pleo expresses optimism about the collaboration, highlighting that both companies share a vision of offering simple and convenient financial tools to support SMEs. The initiative is aimed at streamlining workflows and enhancing value for customers. Pleo anticipates positive outcomes from this partnership.
The alliance comes following Pleo’s launch of multi-currency accounts, designed to simplify global spending at scale while minimizing foreign exchange fees for businesses. With these new accounts, companies can manage up to six currencies through a single Pleo card, streamlining cross-border transactions and reducing associated costs.
