Pleo Facturas is now available in Spain, a new tool to help companies save time and improve their productivity. This tool allows you to simplify the entire invoice management process, providing a single platform to process, approve, pay and post each invoice.
As part of the Pleo package, companies will now benefit from a single, consolidated view of all company expenses, with billing and expense management solutions on the same platform, making it easy to reconcile and track expenses. Something really important if we take into account that only 42% of Spanish companies claim to have good visibility and control of spending, according to the report, “The state of spending in companies” in 2023 by Pleo.
Pleo Invoices is designed to help financial teams control your numberssave time, reduce errors and speed up the way to manage your invoices, offering companies a more panoramic vision of their treasury.
And it is that, according to other company data, the financial teams of the companies spend an average of 10.5 hours per month (125 hours per year) processing invoicesIn addition, 38% of the managers of Spanish companies state that they suffer from an overload of software and too many financial tools. With sporadic data and systems, it’s no surprise that 94% of finance teams say they’ve received duplicate invoices at least once, and 31% of them say they’ve accidentally paid the same invoice twice. Pleo Invoices enables finance teams to transform the way payments are scheduled and automated, meaning potential late payment fees are avoided and archaic processes are simplified.
The solution has also been developed to help companies manage incoming invoices more effectively and efficiently. and meet well with Spanish regulations which, after the approval of the Crea y Crece law, establishes the obligatory nature of electronic invoicing between companies and whose entry into force is expected for 2024 and 2025, depending on the volume of invoicing of the companies. A key point taking into account that in Spain 55% of businessmen claim to pay and manage invoices manually.
The tool captures all the data it needs to process and digitize an invoice using Optical Character Recognition (OCR), saving finance teams time and eliminating duplications and manual errors. Teams can upload invoices by sending them to the company’s unique email address or taking a photo from the mobile app, even drag invoices directly and drop them on desktop.
“Spanish companies need to better control their finances with a comprehensive view of all their expenses. However, currently many of them are still anchored in outdated invoice management processes, dependent on manual processes, and prone to errors. At a time when the digitization of the invoice management process is a central issue in company strategies, simplifying processes and managing received invoices more effectively and efficiently is an essential task in the transformation of our companies”comment Alvaro Dexeus, Pleo director for Southern Europe.
In addition, Pleo Facturas centralizes the way in which expenses and accounting are managed throughout the company, providing more simplicity and user-friendly features. By bringing everything together in one intuitive platform, it is no longer necessary to share passwords or pay for various financial platforms, since all expenses and purchase invoices are recorded and controlled in the same place. It also supports custom CSV exports to streamline and automate accounting.
Pleo chooses Madrid to install its hub for Southern Europe
The new headquarters, operational since May 18 and located in the iconic Madrid’s Gran Viawill coordinate the business operations in Spain, France, Italy and Portugal, with the aim of addressing the rapid and solid growth that the company is experiencing.
With this opening, the company consolidates its commitment to the Spanish market, whose customer base has increased by 105% in the first quarter of 2023 compared to the same period of the previous year and intends to leap into the next phase of its development. , responding to the new needs that arise in the south of the region.
The good reception of the Spanish market, as well as Madrid’s dynamic business activity, good financial services, excellent geostrategic position, talent and cutting-edge infrastructure, have made this city the perfect place from which to coordinate our work in southern Europe, says Álvaro Dexeus.
