Pleo, recognised as Europe’s premier spend management platform, has rolled out significant product updates today. These enhancements promise to deliver a more robust set of tools to businesses, propelling mid-market growth and streamlining expenditure.
These innovative updates stem from Pleo’s ambition to redefine the future of business expenditure. They aim to transition from being just an expense-focused solution to a comprehensive business finance platform tailored for larger enterprises in the mid-market sector.
Founded as a spend management trailblazer, Pleo has continuously championed efficient expense solutions for businesses across Europe. With its diverse range of tools, Pleo aids companies in optimising their spending, ensuring transparency, and facilitating growth in the mid-market space.
In a significant move, Pleo has integrated with Oracle NetSuite, the world’s top-ranked cloud enterprise resource planning (ERP) provider. This integration enables automated export of transactional data and automates expense reconciliation within Oracle NetSuite. With the objective of aiding over 36,000 companies spanning 217 countries, this integration ensures effortless spend reconciliation, resulting in time savings, enhanced efficiencies, reduced errors, and in-depth cash flow insights.
Further elevating their product suite, Pleo introduces Vendor Cards, a unique feature designed for finance teams. This tool centralises and limits payments to specific vendors using a virtual card. Given that 65% of Pleo users note that subscriptions form a significant portion of a company’s expenditure, Vendor cards provide a solution to manage these costs effectively. Additionally, Pleo’s Overdraft feature addresses businesses’ liquidity challenges, offering rapid access to capital and reducing the hassle of managing funds across various accounts.
The ‘Built for NetSuite’ accolade is more than just a status. It’s a testament to meeting the rigorous standards and best practices of the NetSuite SuiteCloud Developer Network (SDN). This programme instils confidence in NetSuite customers, assuring them that SuiteApps, including Pleo’s offering, align with these high standards.
Oracle NetSuite group vice president, SuiteCloud Developer Network and Partner Programs, Guido Haarmans said, “We’re delighted to have accredited the Pleo NetSuite integration. This new SuiteApp extends our robust solution for businesses and Pleo’s dedication to easing financial management and providing better visibility and analytics to businesses is aligned with our own, making us natural partners as they continue to deepen their product offering.”
Pleo CEO and co-founder, Jeppe Rindom, remarked, “Our mission at Pleo is to alleviate stress and make spend management effective and empowering for businesses. We have listened to what our customers really need, so by adding these new capabilities to our platform, we are taking our offering to the next level and providing businesses with the most comprehensive spend management tool in the market.”
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