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What is Pluto Card?

Leen Shami

October 1, 2022

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What is Pluto Card?

At Pluto, we believe better expense management should be within everyone's reach. We solve MENA finance teams' pain points by replacing their business credit cards with Pluto corporate cards to help manage their expenses, saving them time and money.

How do we do that?

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Create Unlimited Corporate Cards

When multiple employees have access to one company credit card, it can be difficult for finance teams and business owners to track how much is being spent and where.

The result: everyone texting the CEO or CFO for OTPs during important meetings.

Pluto makes it easy to create and distribute virtual and physical corporate cards to each employee. Not only does this minimize fraud risk, but it also makes expense tracking simpler for finance teams, CFOs, and CEOs.

With Pluto’s unlimited corporate cards, you’ll be able to:

  • Create virtual cards in seconds.
  • Receive physical cards in 1-2 days.
  • Use cards for vendor-specific cases.
  • Assign every employee a budgeted corporate card.

Spend Control

Are you running ads at a cost that exceeds your marketing budget? Are you providing new hires with an allowance to cover the costs of their office equipment and software, or do you offer employees additional perks such as a monthly gym stipend?

Pluto gives you the ability to set limits and take control of your company’s business expenses, hassle-free.

With Pluto’s all-in-one expense management platform, you’ll be able to:

  • Assign virtual or physical cards with spend limits.
  • Allocate a specific budget towards daily, weekly, or monthly expenditures.
  • Create a single-use purchase card that automatically deactivates once it is used.
  • Control spending for different departments by allotting a budgeted amount to be spent.

Goodbye overspending 👋🏼

Reimburse In Record Time 

Reimbursements can be a painful process when the end of the month rolls in. Whether you’re scrambling to find lost receipts, trying to match receipts to their expenses, or organizing them in a document, there’s no easy way.

Drag & drop receipts

Pluto makes it easy for employees to list receipts.

Once a business expense is made by an employee, they’ll be able to drag & drop an image or screenshot of the receipt onto the Pluto dashboard.

Yes, as simple as that.

Easily reconcile receipts

Pluto allows you to seamlessly submit your receipts onto the platform. With Pluto, reconciliation is a breeze.

Once a business expense is made:

  • Attach receipts to card transactions with just a few clicks.
  • Transactions will automatically be categorized.

Add a memo to every transaction.

Get reimbursed in minutes

Waiting till the end of the month to get reimbursed for out-of-pocket business expenses is no longer necessary! 

Pluto gives you the opportunity to get reimbursed in minutes.

Once a reimbursable out-of-pocket expense is made, head to the Pluto dashboard to log the expense and get reimbursed as soon as it is approved.

Get Real-Time Data

Your month-end expense report comes in—and you find that you've spent more money than budgeted. Again.

With Pluto, you can stay on top of your expenses at any given moment.  

By getting real-time data, you can view reports of your company’s spending and ensure that your company’s finances are in check.  

It's simple, Pluto helps you avoid overspending and keep track of your company's finances in real-time.

So what does this mean for you?

  • See transactions happening on your cards in real time.
  • Receive notifications about every single card transaction, if needed.
  • Collect information on which vendors your company is spending the most money with.
  • Identify which employees or departments are spending the most.
  • Get an overview of the expenses you have incurred daily or month-to-month.

Pluto allows you to adjust if spending has gone off course—and plop some celebratory balloons if it hasn't 🎊!

Integrate With Other Platforms

Every business has multiple platforms, and we know how important it is for them to talk to each other. Pluto's integrations make it easy to get started and ensure you have all the data you need in one place. 

Accounting Integration

Pluto syncs your company's transactional data to the most popular accounting platforms through direct integrations so you can automate your accounting and close books faster.

No more end-of-month mayhem! 😅 

Mobile Wallet Integration

Pluto Virtual Corporate Card

With Pluto, you can add your virtual or physical cards to your digital wallet to make transactions seamless and easy.

We support Google Pay, Android Pay, and Samsung Pay.

What Else Does Pluto Offer?

Pluto gives you the opportunity to scale your business, without having to worry about the smaller details.

No FX Fees

Pluto doesn't charge you any foreign transaction fees for using your Pluto corporate card outside of the UAE.

If your business is expanding rapidly and your team is traveling more frequently, you won't have to worry about those pesky charges eating into your profits.

Or if your company needs to pay for subscriptions, contractors, or freelancers in a different country, you can do so without racking up a bill in FX fees.

Remote teams, frequent flyers, or big spenders, we've got you covered!

Accepted Worldwide

Whether your team is distributed, travels a lot, or makes international payments, Pluto’s corporate cards are accepted worldwide.

Advanced Security & Privacy

Pluto is PCI DSS Compliant. We take the safety of your information very seriously; all your data is stored and processed following the highest data protection standards in the industry. 

Get Started in Minutes

Pluto's sign-up process takes minutes, not hours. By adopting a KYB and KYC process that can be done within a few clicks, you’ll be making transactions in no time.

  • Simple application process.
  • No credit history is required.
  • Fast approvals.
  • Instant card access once approved.

Let us take the hassle out of managing your expenses. Start Using Pluto Today - For Free.

Find out how much your business can save with Pluto

Discover your savings with Pluto's Cost Saving Calculator and take control of your expenses. Unlock cost-efficiency now!

Calculate Now

Learn how Pluto is helping Keyper        to eliminate petty cash spending and optimize spend management

Read More

At Pluto Card, our mission is to assist businesses of all scales make well-informed choices. To uphold our standards, we follow editorial guidelines to guarantee that our content consistently aligns with our high-quality benchmarks.

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Spend Management
November 15, 2022

Vlad Falin

The Complete Travel and Expense (T&E) Management Guide

Travel and expense management is crucial for ensuring that business-related travel expenses are kept in check. However the accurate collection and reporting of all travel-related expenses pose a significant challenge.

As the person in charge of managing your organization's finances, you should be obsessed with making all expense management as efficient as possible in order to save money.

But how can you simplify the travel and expense management process when there are so many moving parts and people involved? By using the right tools for the job.

In this guide, you’ll learn the importance of having a good travel and expense management policy, how to make your T&E management more efficient, and what to look for in travel and expense management software.

What is travel and expense management?

Travel and Expense (T&E) management is the process companies follow to monitor and control business travel expenses. T&E management is vital as it affects the company's financial well-being directly by ensuring all travel-related expenses are tracked for tax deduction purposes.

T&E management involves tracking and controlling expenditures such as flights, accommodation, meals, and client entertainment. Effective T&E management ensures that these costs are necessary, reasonable, and aligned with the organization's policies and goals. This management is particularly vital as travel and entertainment expenses can quickly accumulate and become significant financial commitments for businesses.

Why is travel and expense management important?

As a finance professional, you know that cost management and expense reduction are crucial aspects of financial management work. One of the ways you can do this is by tracking all deductible expenses for tax reduction purposes.

And when it comes to the hierarchy of expenses you need to keep track of, those related to corporate travel and entertainment are of particular importance.

According to Mastercard, corporate travel and entertainment expenses have become the second-highest expense category.

But not only does T&E account for a large portion of the business expenses that companies have to deal with, but it’s also been identified as the second most difficult operating cost to control.

That’s why it’s so important that your organization develops and maintains effective T&E management policies, and uses the tools available to simplify T&E management.

The challenges of travel and expense management

Managing travel and expense (T&E) can be a complex task, often fraught with a range of challenges. These challenges can significantly hinder the efficiency and effectiveness of an organization's T&E process. Key challenges include:

1. Limited Fund Access: Employees often face constraints in accessing funds for travel-related expenses, which can lead to delays and complications.

2. Security Risks: The management of expenses, especially in a digital format, raises concerns regarding data security and the risk of financial fraud.

3. Outdated Policies: An organization's T&E policies may become obsolete or fail to align with current business needs and practices, leading to inefficiencies and policy breaches.

4. Lost Reports: Misplaced or lost expense reports can disrupt the reimbursement process, leading to employee dissatisfaction and administrative headaches.

5. Inefficient Bookkeeping: Manual and outdated bookkeeping methods can result in errors and inefficiencies, making it difficult to track and manage expenses accurately.

6. Lack of Spending Visibility: Without clear visibility into T&E spending, organizations struggle to control costs and make informed budgetary decisions.

7. Slow Reimbursement Process: Delays in processing reimbursements can demotivate employees and hinder efficient financial management.

How to make travel and expense management process efficient

1. Review your travel expenses and reimbursements

One of the first things you should do is take a look at your current travel expenses to see if there are any changes to be made.

Business travelers will always need to take trips, but perhaps there are some interactions that could be handled via videoconferencing.

You can also look for ways to minimize the expenses that need to be reimbursed. For instance, by using Pluto corporate cards, you could help eliminate, or at least reduce, the need to reimburse food expenses while giving you better control over them.

2. Examine your travel policy and keep it simple

If you are having trouble with your T&E management, you should take a look at your current travel policies (and if you don’t have one already, you should make that your top priority).

Your T&E policies need to strike a balance between flexibility and strictness. Too flexible and you create waste; too rigid and you limit the ability for people to do their jobs.

A good T&E policy should include the following:

  • How travel will be booked
  • The process to follow for reimbursement (including what type of supporting documentation is necessary, due dates, and other stipulations).
  • Any budget or spending limits, including the specific transportation methods or hotels that can be used.
  • Meal allowances.

And you want to keep your policy simple and easy to read. Minimize the jargon, use short paragraphs, and a simple format with bullet points, tables, and clear headings.

You should continuously review your expense policy, particularly as your business expands, to ensure that it’s aligned with any changes in your organization. 

3. Go paperless

Your team should be able to access your expense policy from anywhere and at any time. But more than that, you should aim to digitize the expense report process as much as possible.

For instance, implement the ability to submit digital expense reports and capture receipts digitally. Not only will this allow you to get a clearer view of your operations at all times, but it will help simplify your bookkeeping and easily manage receipts.

Pluto has this function! 

Digitize travel and expense management

4. Use travel expense management software

Through effective use of travel and expense management systems, you can consolidate the different scaffolds in your expense process, automate them, and eliminate time-consuming approvals while minimizing, or outright eliminating, human error.

Using Pluto allows you to cut a lot of the fat out of the reimbursement process. Automate reports, data gathering, and approvals for expenses that meet your policies, leaving only those that don’t meet your policies for manual approval. 

Furthermore, it can help you detect fraud by auditing your reports for duplicate expenses and any other anomalies.

And through software integration, you can use these different tools to create a unified T&E management process. 

5.  Top solutions for travel and expense management

There are many tools you can use to make your T&E management more efficient, for instance:

  • Pluto Card allows you to issue unlimited virtual cards, create travel specific card limits  monitor spending in real-time and most importantly, it allows your employees to reimburse quickly!
  • A travel expense tracker can provide you with automated expense reporting and expense tracking.
  • You can use a travel management platform that allows your employees to book flights, trains, and hotels and even rent cars from one place.
  • Pluto mobile app makes the expense reporting process much simpler for your employees.
  • You could take data from Pluto and travel management system directly into your accounting platform to further automate and simplify the T&E management process.

Expense management software for T&E management

One of the best ways to simplify your travel and expense management is by making use of the right T&E management software. However, with the increasing amount of options available, knowing which one fits your company best can be difficult.

Since no two businesses are exactly the same, there won’t be a one-size-fits-all solution. Having said that, you’ll have an easier time choosing between the different options by focusing on the specific features that you need, or at least should consider, in a T&E management platform.

Key features to look for in a travel and expense management software

1. Virtual cards

Pluto gives you the ability to create virtual cards for online purchases. These cards can be generated as single-use or recurring, giving you complete control in terms of how you set up your spending limits.

Virtual cards offer you similar benefits to corporate cards, in the sense that you get full visibility of your expenses and your employees don’t have to pay upfront, but they have the added benefit of being more customizable.

2. Flexible spending limits

Our expense management software can also give you a lot of control and flexibility over the spending limits that you set. Pluto allows you to set specific spending-limits for vendor and change them in real-time online. 

This allows you to track expenses for specific countries or cities, while removing the need to manually configure spending limits each time someone makes a trip request.

3. Expense reports and analytics

If you want to make your expense management more efficient, you’ll need accurate data and insights into the spending habits of your employees.

Pluto gives you real-time reporting and analytics, to give your finance teams an easier time combing through all the expense data. For instance, a system with robust reporting capabilities should:

  • Categorize expenses and organize reports by expense type
  • Reconcile your reports
  • Give you spending insights across all your departments
  • Keep track of violations of your expense policies
  • Provide you with real time spend visibility

By getting a clear picture of your expenses, you’ll have an easier time ensuring policy compliance, preventing fraud, and reducing travel costs.

4. No FX fees and multi-currency functionality

If your employees travel internationally frequently, you’ll want a product that comes with a card that doesn’t have additional fees or surcharges for international purchases.

At Pluto we have 0 FX fees. Furthermore, you’ll have an easier time managing these expenses due to multi-currency functionality automatically converting all transaction information to your country’s currency.

5. Mobile functionality

If you are trying to simplify your expense reporting process for travel expenses, then you need a way to work on those expenses on the go. Pluto’s mobile app would allow your employees to report their expenses right away from any location, while also giving them the ability to submit receipts digitally.

6. Integrated card management

If you opt for a software provider that also offers corporate credit card services, you’ll be able to automatically reconcile expense report entries with your card statements, detect any expense bottlenecks, and generally reduce the chances of fraud or misuse. 

Pluto card management software will also give you more control over your corporate spending. Plus, you’ll be able to set and control your spending limits with much more ease.

7. Compatibility with other tools

When it comes to the use of technology in expense management, the more, the merrier.

Pluto can be integrated with your accounting software so that it can automatically populate expense reports and simplify your reimbursement through the use of your organization's accounting data.

Furthermore, by integrating your TEM system with your travel management system you can instantly take the travel booking information and add it to your expense reports.

8. Automated workflows, expense categorization, and tax calculation

The entire point of using travel expense management software is to automate as many processes as possible.

This includes the ability to customize your travel policies and approval workflows, categorize expenses for more straightforward tax calculation, and determine whether they are tax deductible or not.

Furthermore, by categorizing your expenses, you’ll have an easier time complying with the tax regulations of your country.

9. Scalability

One feature that is sometimes overlooked in software platforms is the ability to scale your operations as your company grows. You don’t want to choose a system now only to realize it no longer meets your needs further down the line.

In this regard, Pluto is a great pick as we have the backend to support any business sidez from small teams to enterprise level accounts. 

Key takeaways

Effective expense management is all about visibility, flexibility, control, and automation. The most common pain points from T&E management come from outdated policies and manual inputs, which you should seek to update and simplify via means of a robust expense management platform.

When it comes to making your travel and expense management more efficient, the key things to remember are:

  • Review and update your policy continuously to ensure it meets the needs of your business and employees.
  • Examine your current expenses to look for opportunities to reduce reimbursements and consolidate expenses.
  • Use Pluto to automate approval workflows and simplify the expense reporting process.
  • Pluto also offers strong reporting capabilities, gives you a lot of flexibility for spending limits, and can be integrated with other tools for maximum effectiveness.

5
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Updates
December 7, 2023

Mohammed Ridwan

Pluto Wins Big at the MENA Fintech Awards

The MENA Fintech Awards, a prestigious event within the financial technology industry, recently celebrated the most innovative and impactful solutions in the sector. 

We at Pluto are thrilled to announce that our company has been honoured with the 'Best Corporate Solution' award! This recognition is a testament to our team's hard work, dedication, and innovative approach in the fintech space.

Our co-founders, having spent a considerable part of their lives in the UAE. Working within the fintech sector, identified a significant gap in the region's finance sector. They observed that the tools, platforms, and software available to CFOs and finance teams were not only outdated but also overly complex, hindering efficient financial management.

With Pluto, they embarked on a mission to develop a software solution that would change how mid to enterprise level businesses handled their finances. 

The MENA Fintech Awards, organised in collaboration with the MENA Fintech Association, are designed to recognize excellence and innovation in financial technology. These awards are a highlight of the Abu Dhabi Finance Week (ADFinanceWeek), an event that fosters innovation and growth in the fintech sector. The 'Best Corporate Solution' category, in which we were victorious, emphasises practical, innovative solutions that address significant corporate financial challenges.

Our award-winning solution, the Pluto Card, addresses various corporate financial management needs. It offers features like employee reimbursements, petty cash management, and an efficient account payable cycle, along with robust accounting integrations. 

Winning the 'Best Corporate Solution' award at the MENA Fintech Awards is not just an honor but also a motivation for our future endeavours. We are excited about our upcoming initiatives, which include further enhancements to the Pluto Card and expanding our market reach to serve more businesses globally.

We extend our deepest gratitude to the organisers of the MENA Fintech Awards and ADFinanceWeek, the judges for recognizing our efforts, and most importantly, our dedicated team and loyal customers. Your support and trust in our solution have been invaluable!

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Updates
May 26, 2022

Leen Shami

We got funded!

We're thrilled to announce that Pluto closed US$6M in Seed funding in February, led by Global Founders Capital.

With GFC being the lead investors, we've had participation from several of the world's leading investment firms and entrepreneurs. Soma Capital, Graph Ventures, Adapt Ventures, Ramp, Thejo Kote (Founder of Airbase), Shaan Puri, and William Hockey (Co-founder of Plaid) were some of the few who participated.

With our Seed round, we aim to get closer to achieving our mission; to streamline company expenses for MENA businesses. 

The problem

Company spending in the MENA region is problematic, time-consuming, and frustrating. Managing company spending in MENA today is difficult, time-consuming, and frustrating, as today, companies only get a single debit or credit card.

OTPs

Today, employees all share one company credit card, which usually leads to an OTP being sent to the CFO, financial leader, or founder of the company. Most bank OTPs last from 2 to 10 minutes before they’re expired. So, if an employee doesn’t get the OTP in time, they won’t be able to complete the transaction.

Overspending

When a company credit card is issued, you cannot control spending. This means there is no way to set limits on the card to avoid being overcharged by recurring subscriptions or employees going over budget.

No visibility

You cannot get real-time visibility or instant reports on business expenses with company credit cards. This makes making informed decisions about allocating resources in real-time more challenging.

Petty cash

Banks have no ideal solution for petty cash management. Companies typically maintain a cash vault at their offices, distribute loose cash to employees, and spend countless hours collecting and matching invoices.

The solution

Introducing Pluto Card: a corporate card & spend management platform that allows MENA companies to simplify and control their business expenses.

With Pluto's software, managers can issue their employees virtual cards with spend and control limits, cards that get canceled after a one-time purchase, and cards with a recurring daily, weekly, or monthly budget.

Employees can request expenses from their managers and submit reimbursement requests by dragging and dropping receipts onto the software. This happens in real-time, where managers can view employee requests as they happen, see what is being spent and where, and gain insight into instantaneous expense reports, helping them make informed decisions.

Pretty straightforward.

Want to see Pluto in action? Sign up and get a private demo here.