Managing the work-related costs that staff incur as part of their role can be a considerable time, energy, and resource drain for any business, especially a smaller one where there may not be dedicated employees handling expenses. Thankfully, numerous software solutions are available to support expense management through automated processes, company-issued smart cards, and mobile apps, providing real-time updates on spending. These solutions enable companies to track and better understand their expenses more effectively. A popular option is Pleo, but there are many other alternatives.
In this article, we examine the features of Pleo, what to look for when you are choosing an expense management system and provide some alternatives to consider if you’re not sure Pleo is the right option for you.
Pleo Overview
Pleo began its life in Copenhagen in 2015 as the brainchild of two fintech veterans who recognised the inefficiencies and inaccuracies inherent in an expense system based on collecting and processing receipts. By introducing smart company cards and automating the process of storing receipts, categorising expenditure, and exporting data to accounting systems, Pleo simplifies the expense process and supports finance teams in understanding expenditure trends.
Some of the features of Pleo include:
- Smart company cards with spending limits and real-time tracking reduce the need for employee reimbursement and prevent overspending.
- Automatic expense tracking uses AI to match receipts and VAT, flags violations and categorises spending to save administrative time and support compliance.
- A visual dashboard that provides immediate information on company-wide costs, along with downloadable reports for auditing and forecasting.
- The digital claims system helps employees claim expenses not covered by the company card, such as mileage reimbursement, through a Google Maps integration.
- Support for different currencies makes it easier to track expenses for global, remote or travelling teams.
- A mobile app enables employees to upload receipts immediately, receive notifications to help them track expenses, and allows finance teams to access spending data in real-time.
- Integration with accounting systems such as Zero, QuickBooks, Sage and Netsuite.
Limitations of Pleo
Pleo is a suitable option for small businesses seeking an expense management system that is easy to navigate. However, there are some limitations which often prompt businesses to look for alternatives.
- Limited to expense management only: Pleo does not support other financial or core HR functions.
- Restricted customisation options: Pleo lacks the flexibility to support more complex or conditional approvals
- Less global reach: Pleo’s system to reimburse out-of-pocket expenses is only available in certain countries
- Pricing: Pleo can be expensive compared to other options, especially when scaled
- Issues with uploads: Pleo can have system issues which interrupt the uploading of receipts without flagging the problem to users
- Restricted analytics: Pleo reports can be considered basic and provide limited insights into trends and forecasting for expenses
- Lacks in-built forecasting tools: Pleo allows tracking of spending, but does not have complete budgeting and forecasting functionality
Top 6 Pleo Alternatives
Factorial: Expense Management + HR Functions
Compared to Pleo, which only covers expense management, Factorial is a more comprehensive business management software that supports several HR functions. Factorial does have expense management software, but the software also includes tools for payroll, time management and talent management. Their software can track time and attendance, provide an applicant tracking system (ATS), and offer onboarding tools for recruitment, as well as help set goals, gather feedback, and track progress through performance management.
Features
- Expense management tools include corporate cards, control over spending limits and the ability to create in-depth reports on expense spending
- Mobile app allows employees to record expenses and track their time
- Centralised employee records
- All-in-one software covering the lifecycle of an employee from recruitment and onboarding, to expenses, payroll and performance management
Pros
- Integrates with different payroll systems
- User-friendly interface
- Employee self-service enables individuals to access their records, including expense information.
Cons
- No direct integration with accounting applications
- Designed for use by small and medium-sized businesses so scaling for larger companies can be tricky
Pricing
- Includes a free trial
- Starts at £5.40 per month per user
- Plans are available for various businesses and budgets, tailored to the HR needs of the organisation.
Spendesk
Spendesk is a popular digital solution that supports both invoice management and expense tracking. It’s a good Pleo alternative if you need financial support beyond just expense management.
Features
- Physical and digital cards for employees to use for expenses
- Automated invoice management system receives, pays and records invoices
- Customisable approval processes
Pros
- The platform is designed for companies as they grow
- User-friendly interface
- Easy to customise
Cons
- Cards must be pre-loaded, which can tie up funds unnecessarily
- Some users report issues with customer support and a lengthy onboarding process
- High charges for currency conversion
Pricing
- Prices available on request
- Based on a tiered model with Essential (£199 per month), Scale (£599 per month) and Premium (from £1499 per month) categories available as well as a custom-priced Suite option
Zoho Expense
Based in India, Zoho is a comprehensive online platform which supports customer relationship management (CRM), project management, human resources and accounting. If you are looking for a solution that goes beyond managing your expenses and are prepared to pay for it, Zoho is a good alternative to Pleo.
Features
- Supports CRM, project management, employee records, company emails and more.
- Zoho Books specifically manages accounting, including tracking expenses and creating invoices.
- The software includes P&L statements, balance sheets, and tax reporting.
Pros
- The pricing structure makes it affordable
- A suite of products available supports the whole business
- Software allows for customisation and integration with other apps
Cons
- Some users find the interface cluttered and outdated
- Steep learning curve when onboarding
- Pricing structure means some basic features are missing from the standard plan
Pricing
- Free trial available
- Standard plan starts at £19 per month, premium £45, and a custom version is available
- Add-ons available such as extra users, timesheet users and automatic scans
Airwallex
Airwallex is a digital software solution that operates on a global scale, offering expense management, international money transfers and business accounts in different locations. It is a good alternative to Pleo for companies that operate internationally and want to minimise the costs involved in dealing with many other currencies.
Features
- Receipt uploading and expenses approvals, plus physical and digital company cards
- International money transfer
- API to support integration with other apps and systems used by the company
Pros
- Offers reasonable rates on international transfers
- Ability to support multi-currency accounts
- Quick onboarding and paperless set-up
Cons
- Advanced features can be more complex than required for smaller businesses
- Limited physical cards can cause problems if there are issues with reception or battery
- Some users report issues with customer support for more complex issues
Pricing
- Plans range from free to £19, £45 and £999 per month, depending on requirements and complexity of the business
- Free trials are available for lower-priced plans
Brex
The US-focused Brex platform offers expense management as part of its wider software solution. Its expense management includes cards, tracking of expenses as they occur and automated workflows to reduce the amount of manual work. Brex is a good alternative to Pleo if you are looking for a US-focused expense management software.
Features
- Includes tools for managing travel expenses as well as corporate cards
- Integration with accounting software
- Customisable expense policies
Pros
- Includes a rewards programme
- No monthly fees
- Flexible budget management
Cons
- Less support for small- and medium-sized businesses
- Some users report finding the rewards system difficult to use
- Extra charges can be confusing
Pricing
- Prices are in dollars, starting with the free essential plan
- Premium plan is $12 per user per month
- The enterprise plan is customisable with custom prices
Expensify
Expensify is a digital expense and spend management tool for both personal and professional use. Primarily based in the US, Expensify offers several features to help companies record, track, and report on their expenses. Expensify can be a good alternative to Pleo if travel management is essential for your organisation.
Features
- Expense tracking, including receipt scanning and the ability to organise with tags for future reference
- Supports invoicing
- Chat feature to communicate with other team members
Pros
- Automated receipt scanning
- In-depth reporting capabilities, allowing combined and individual reports
- Intuitive interface
Cons
- Limited travel management
- Some users report issues with inconsistent customer support
- Use of company cards is less integrated into the system than for other software options
Pricing
- SmartScan, sending and receiving money and chatting with coworkers are part of the free plan.
- Plans include ‘Collect’ from £5 per user per month and a customisable version with prices linked to the options you need
Questions to Ask when Choosing a Pleo Alternative
When considering a Pleo alternative, the following questions help focus your thinking on which option is best for your organisation.
- What are the key needs of our company when it comes to expense management?
- What is my budget?
- How many people in my team need to use the expense management software?
- Do I need to make international payments?
- Are the alternatives I am considering easy to use, straightforward to set up, and customisable to my business?
The Best Pleo Alternative for your UK business
After comparing Pleo to different available options, it’s time to narrow it down to the one that’s best for your team. Factorial is a top contender to Pleo as it offers more features that combine your expenses to the rest of your business. This Pleo competitor centralises your core business processes so you don’t have to juggle multiple tools and search for information between platforms. It automates your expense approval workflows, allows you to set budget limits, and offer free business cards for your team. Factorial is your all-in-one software that reduces admin work, saves you time and money, and is easy to use. Book a demo to see Factorial in action!
FAQs
- How does Factorial compare to Pleo?
Factorial is a comprehensive HR platform, compared to Pleo, which focuses solely on expense management. While Pleo provides automated receipt collection and policy compliance for expenses, Factorial offers broader support, including centralised record-keeping, payroll integration and compliance, and contracts and e-signatures.
- What is spend management?
Spend management is different to expense management. It is a comprehensive process that involves awareness of all aspects of a company’s spending, not just expenses. Spend management including planning, controlling and evaluating where money is spent within the business and working out ways to maxmise efficiency and value.
- What should I consider when purchasing expense management software?
When purchasing expense management software, it is essential to consider the following factors:
- Company size
- Expense patterns within different teams
- Compliance and other regulatory needs
- Finance workflows
- Ease of use
- Integration capabilities
- International support, if required
- Reporting needs
- What factors should I consider when choosing a Pleo alternative?
When choosing a Pleo alternative, factors to consider include
- Will the Pleo alternative offer value for money?
- Do you require international support?
- Would a comprehensive business management solution be a better choice than one that only focuses on expense management?
