LONDON - European fintech unicorn Pleo has formed a strategic partnership with TravelPerk, to enable a simplified travel expense experience for its users.
While post-pandemic travel is firmly back on the agenda, businesses have new challenges to tackle with turbulent times ahead, and the need for accurate, real-time oversight into spending is key for survival.
The newly launched API integration, combining the power of TravelPerk’s global travel management platform and Pleo’s business spend solution, enables end-to-end efficiency. Business travellers are empowered to book autonomously ensuring they'll stay within budget (using policies and approvals), and using a Pleo card means they won’t have to pay out of pocket or complete expense claims. Receipts then automatically sync directly into the Pleo system, ready to be categorised and tagged.
As a result, the process of reconciliation becomes smoother, removing manual work and time spent, and business customers benefit from enriched travel insights and data within the Pleo platform. Added to this, booking via TravelPerk means businesses can significantly reduce their costs by reclaiming up to 20% VAT back, through a VAT friendly inventory and VAT compliant invoices.
Stuart Wynn, Pleo’s Head of Strategy and Partnerships comments: "Partnering with TravelPerk is an exciting moment in our mission to give businesses greater power to manage their spend in a smart and efficient way. By maximising the technical innovation of both solutions, we can provide a best in class tool that offers a seamless travel spend management experience, reducing running costs and removing time spent manually inputting and updating information.’’
Kelly Jewison, Head of Partnerships at TravelPerk added: "The environment businesses now find themselves in is having a direct impact on the choice of tools being selected to help manage the economic uncertainty. Business travel is crucial for the economy, business growth and revenue, but finance directors are looking for ways to manage and control business costs. The integration enables real-time access and greater insight into spending, to help businesses forecast accurately and plan accordingly."
Mutual client Luno, a global cryptocurrency investment company comments "Post pandemic we really saw the value of Pleo and TravelPerk. Without that combination we would have had a whole lot of people travelling, spending out of policy and waiting for the expenses to be reimbursed, which meant we never had full oversight into travel costs each month. With this new integration Pleo automatically matches receipts from all transactions on TravelPerk. No more manual drag and drop!"