For some companies, not a lot. They’re still dealing with all of the same stresses that they have been for years: chasing employees for receipts, expenses that don’t quite add up, worrying about who’s got the company card.
That’s not to mention workers paying for things out of their own pocket. It gets worse when you remember that a lot of companies still handle the entire process manually. Other businesses have realised that there are better things they could be doing with their time.
And here at Nephos, we agree!
What is Pleo?
Pleo is a remedy for the headaches of business expenses.
It’s a company spending solution that automates expense reports and simplifies company spending through smart cards with individual spending limits.
Let’s say your sales rep wants to buy a coffee for a client. She can buy it using her Pleo card, meaning she doesn’t have to spend her own money. She’ll then be prompted to snap a picture of the receipt with her phone. Back at the office, her manager instantly sees the details of the expense in Pleo’s web app. The worker feels trusted (and doesn’t have out-of-pocket expenses), the boss gets real-time overview over company spending, the client gets a coffee… everyone’s a winner.
Click on the picture below for a preview into how the world of pleo works...
Nephos and Pleo
Pleo was set up in 2015 and from its original base in Copenhagen has expanded to the UK, Sweden and Germany.
Earlier this year they raised €50million in a Series B financing round led by Stripes, a leading New York-based growth fund, with participation from existing investors Kinnevik, Creandum and Founders.
At Nephos, we often see the problems that can occuer when handling a poorly managed expenses process. This is why we are proud to partner with Pleo! We pride ourselves in assisting clients with this process and ensuring a more efficiently managed system - resulting in happy staff and a financially better off client!
To hear more about our advisory services or getting set up on Pleo, get in touch.