It is a “strategic alliance with the objective of leading the transformation of business accounting“. Let us remember that Pleo aspires to make the employee of an SME an integral part of the accounting team, while Holded has developed its own ERP (Enterprise Resource Planning) to facilitate the digitization of accounts among small and medium-sized companies. .
They are two emerging companies, both from the ‘fintech’ sector and which have been the protagonists of important milestones in recent months. Pleo, of Danish origin, arrived just a year ago on the Spanish market in full international expansion. Holded, a Catalan, has just closed a financing round of 15 million euros with which to continue making progress in this busy market. This separately, because now both startups are beginning a joint journey in accordance with the alliance that is announced today.
Thus, and through this agreement, Pleo and Holded will “fully” integrate their accounting solutions to offer “an improved experience to financial departments and other teams in their companies.”
Aiyana Moorhead, Country Manager for Spain at Pleo, explains to D + I that “for months we have been working on the integration that we announced today, but previously we have looked for a temporary alternative. From the beginning our clients have had the option of working with custom templates that make it easy to dump data from Pleo to Holded. ”
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In particular, the new integration completely eliminates the manual process of exporting expense data, as it can now be done in one click. Until now, data had to be dumped into a CSV file, expense by expense, ticket by ticket, thus saving time is more than noticeable.
Both Moorhead and Sandra Milanovic, director of Strategic Alliances at Holded, emphasize to this portal the importance of this agreement to consolidate and expand their respective customer bases, although without specifying quantitative objectives. Likewise, when asked about future new integrations and even a potential merger between the two startups, both highlight the “fluidity” of their relationships, but without taking any steps forward.
Although both startups focus on accounting for SMEs, which could indicate some kind of overlap, the truth is that their approach is completely complementary.
Pleo is committed to a system with which to distribute the purchasing task among employees, allowing them to securely purchase services on behalf of the company. In fact, the startup markets its own credit card, with which the organization can establish privileges and standards for each worker, automatically collecting and categorizing receipts for the purchasing department.
And that’s where ERPs come into play, like the one Holded offers. The Spanish company’s system receives these receipts and all the associated information and processes it within its billing software. Thus, the virtuous circle is closed in which the Holded application would also allow you to connect your e-commerce, banks and online collections to the same accounts.
“This integration between Pleo and Holded is not only logical in the sense of compatibility between both solutions, but also because of the fit of culture and vision of both brands. We address the same companies, offering solutions that are just as necessary and there is an affinity of design and usability that makes the use of both tools equally intuitive and visually pleasing “”, details Sandra Milanovic to this medium.