The London tech industry is still open for business. Today, the digital receipts platform Flux and expensing provider Pleo announce a new partnership that will deliver the UK’s first fully-automated, invisible expensing experience for businesses across the nation.
Once activated, Flux will send real-time, itemised digital receipts direct to Pleo when cardholders shop online or in-store at Flux-supported retailers like Just Eat using their Pleo cards. This process is automatic and invisible to the end-user and Flux does not require photos, QR codes or any use of OCR (Optical Character Recognition) technology to generate and deliver its digital receipts. Pleo users will not need to photograph a paper receipt or upload an email.
Many businesses describe expensing as a pain point, with SMEs collectively losing over £8 billion each year to the administrative burden created by business expense management, and a staggering £1.9 billion is lost to unauthorised or inflated expense claims. By streamlining the expensing process, Flux digital receipts will save Pleo's customers time and make it easier to claim back expenses- letting them get back to focusing on their day-to-day.
Flux has already delivered more than 1.5 million digital receipts to-date for consumers across the UK. Expense management is a new market for the London-based Fintech and will see Flux’s technology introduced to businesses using Pleo up and down the country.
Flux and Pleo will launch this groundbreaking expensing solution later this year.
Luke Richardson, Director of Brand and Communications at Pleo said: “Both Pleo and Flux have a shared common value - to remove unnecessary friction in an increasingly digital world. For us, that’s with business spending. We’re excited to get to work with this new strategic partnership as it will allow us to automate even more of the Pleo experience so our customers can focus on what’s important: doing great work.”
Roisin Levine, Head of Banks at Flux said:
“Here at Flux we’re passionate about improving the experience for our customers. Expensing is a natural partnership for us as a digital receipts company - we’ve all experienced the pain of trying to manage expenses and reconcile accounts! We’re incredibly excited to be working with Pleo to bring the UK its first fully-automated, invisible expensing solution, and we look forward to rolling this out by Q4 2020 to the 7,000 companies using Pleo in the UK.”