FinOps handbook

Building blocks of a Partner team

FinOps Software List

Finance processes

Compliance and tax

Explore

Payroll, Pension & Expenses

Expense Cards

Running Payroll

Expensify

Advantages

Sophisticated approval process

Ability to create expense rules where only expenses above a certain amount needs to be reviewed and approved

Integrates to most accounting systems

Disadvantages

Not as cost competitive as Xero Expenses and Receipt Bank

Pleo

Summary

Pleo provides pre-paid cards to employees, alongside innovative and user-friendly software that makes life easy for the accounts team. Everything is controlled from a centralised portal, meaning that you can set spending limits on an employee-by-employee basis.

More info:

Pleo – Smart Credit Cards For Your Business⁠

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How much does it cost?

Essential Plan – £5 per user, per month

Access to most features incl. both plastic and virtual MasterCards, and ability to instantly capture the name of the merchant, size of the transaction, and spending category every time a purchase is made

Pro Plan – £10 per user, per month

Includes additional features such as limits and reviews on each user, as well as notifications when a user goes over a predefined limit.

Pros

Virtual cards for online spend, as well as physical cards

Seamless integration with Xero, Quickbooks etc means very little manual work for finance team

Integration with G-mail pulls receipts automatically from emails

Consistently praised for great customer support

Cons

Occasional issues with some merchants not accepting prepaid cards

Can be expensive for large teams

If not managed properly, can cause staff to spend more money than they otherwise would

Spendesk

Summary

A comprehensive system for managing payments across a large and multi-entity, multi-currency business. This includes payment cards (virtual and physical), invoices and expense receipts.

Which plan is best? Check out:

https://docs.google.com/spreadsheets/d/13nf5I2GrdwabgXVAOqVQBljwb8vN4Vgciwg-AfUE-Q0/edit?ts=60266503#gid=0⁠

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Guidance over how to:

⁠

invite people⁠

and

assign them roles⁠

⁠

create your teams⁠

and

approval flows⁠

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set up the

control on receipts⁠

and

spending policies⁠

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payment methods:

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virtual cards⁠

(single-use and recurring)

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physical cards⁠

(not a prio for now for you)

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reimbursements⁠

(wire transfer to activate once documentation is validated)

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invoices⁠

(don't hesitate to test the flow yourself with an invoice that you need to pay to see all the possibilities)

User and Video guides on Spendesk:

here⁠

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