Managing company expenses effectively is crucial for businesses of all sizes. Pleo, a financial management platform offering smart payment cards and expense tracking, has gained popularity in the UK for its simplicity and functionality. But is it the right choice for your business? In this review, we’ll provide a detailed breakdown of Pleo features, pricing, and suitability for UK businesses.
What is Pleo?
Pleo is a comprehensive expense management solution designed to streamline company spending. It provides businesses with smart payment cards (physical and virtual) that employees can use for business-related purchases.
These transactions are automatically tracked and categorised, making expense reporting hassle-free. Pleo integrates seamlessly with various accounting software, helping finance teams save time and improve accuracy.
Pleo key features review
- Smart payment cards – Pleo’s physical and virtual cards allow employees to make purchases without the need for reimbursements. Spending limits can be customised for each card, giving businesses better control over budgets.
- Real-time expense tracking – Transactions are recorded in real time, providing visibility into company spending as it happens.
- Receipt capture and categorisation – Employees can snap photos of receipts, and Pleo automatically categorises expenses based on spending patterns. This feature reduces manual data entry.
- Seamless integrations – Pleo works with popular accounting software like Xero, QuickBooks, and Sage, enabling smoother reconciliation processes.
- Customisable approval workflows – Businesses can set up approval hierarchies for expenses, ensuring compliance with internal policies.
- Advanced analytics and reporting – Pleo provides insights into spending trends, helping businesses make informed decisions about resource allocation.
- Mobile and desktop access – The Pleo app makes it easy for employees and administrators to manage expenses on the go.
Pleo pricing review
Pleo offers a tiered pricing model, catering to businesses of different sizes and needs. Below is an overview of the current pricing:
Essential plan – £10 per user per month
- Smart company cards
- Expense categorisation
- Receipt capture
- Basic analytics
- Integrations with accounting software
Advanced plan – £20 per user per month
- All features in the Essential plan
- Custom approval workflows
- Advanced analytics
- Priority support
Premium plan – Custom pricing
- Tailored for large organisations or businesses with specific needs
- Includes all Advanced plan features
- Dedicated account manager
- Customised onboarding and training
Starter plan – Free (up to 5 users)
- Aimed at small teams or startups
- Includes basic smart cards and expense tracking
Additional costs may apply for optional services, such as custom integrations or extra analytics features.
Review verdict – Is Pleo the right choice for your business?
Pleo is a strong contender for businesses seeking to modernise their expense management. However, whether it’s the right choice depends on your company’s size, budget, and requirements.
Advantages
- Saves time with automated processes
- Improves transparency in spending
- Scales easily with business growth
- Reduces manual errors in expense tracking
Potential drawbacks
- Pricing may not suit very small businesses beyond the Starter plan
- Customisation options may feel limited for businesses with niche needs
- Heavy reliance on internet connectivity for real-time updates
Alternatives to consider
If Pleo doesn’t seem like the perfect fit, other options to explore include:
- Soldo: Offers prepaid cards with a focus on team-based spending management.
- Expensify: Known for its robust receipt management and expense reporting capabilities.
- Spendesk: Combines payment cards, expense management, and invoice tracking.
Final thoughts
To conclude our pricing review, Pleo offers a versatile and intuitive solution for UK businesses looking to simplify expense management. Its competitive pricing and robust features make it a strong choice for small to medium-sized enterprises. Larger organisations may find value in the Premium plan, though exploring alternatives might be worthwhile for businesses with very specific needs.
To determine whether Pleo is the right choice for your business, consider trialling the Starter plan and evaluating how it fits with your workflows and expense management goals.
FAQ – Pleo pricing review
Pleo eliminates the need for manual reimbursement processes by providing employees with smart payment cards and automating expense tracking. This modern approach saves time and reduces administrative effort.
Yes, Pleo supports multiple currencies, making it a suitable choice for businesses operating internationally or dealing with cross-border transactions.
Pleo uses bank-level encryption and security measures to protect company and user data. Additionally, businesses can set spending limits and freeze cards instantly if needed.
While Pleo offers features like custom approval workflows and tailored onboarding for Premium users, it has standardised options that may not suit highly specific or complex workflows.
Pleo provides a free Starter plan for up to five users, allowing businesses to test its core features without commitment.
Setting up Pleo is a straightforward process. Once registered, businesses can issue cards, configure settings, and start tracking expenses within a few days.
Pleo’s Starter plan is particularly beneficial for small teams and startups. However, freelancers may find it less suitable unless managing multiple team expenses.
Pleo offers different levels of support based on the plan chosen. Advanced and Premium users benefit from priority support, while Premium users also receive a dedicated account manager.
Yes, Pleo cards can be used for recurring payments, and the platform provides insights into subscription spending to help businesses manage ongoing costs.
Pleo is designed to simplify compliance with UK tax regulations by automatically categorising expenses and integrating with leading accounting software to ensure accurate record-keeping.