UK businesses are bracing for a challenging 2025, leading spend management platform Pleo to launch a new cash management offering within the treasury space.
A recent survey of 500 UK finance professionals conducted by Pleo reveals that 56% anticipate a tougher year ahead. Despite these concerns, 37% of respondents express a lack of confidence in their organization’s financial agility.
In light of the uncertain economic landscape, three-quarters of finance leaders recognize the necessity of stress-testing their business’s financial health, with the same percentage noting that financial decisions must now be made with unprecedented speed. This environment has heightened pressure on financial decision-makers, with 76% of UK businesses acknowledging this trend.
Yet, many finance professionals find themselves hindered by longstanding challenges. Over half report that they are unable to concentrate on critical initiatives due to the demands of time-consuming, manual treasury tasks, resulting in the loss of 163 working days each year.
Close to three-quarters of those surveyed believe that having a comprehensive view of all accounts and currencies is essential for complete financial visibility. However, the average finance team employs seven different tools to manage their finances, 40% of which either do not integrate or have poor integration. As a result, 37% of businesses lack confidence in their visibility to make informed decisions and respond effectively to crucial financial events.
In response to these challenges, Pleo plans to introduce a range of treasury tools over the coming year, beginning with a financial dashboard that offers a consolidated view of funds. Subsequent features will include multi-currency accounts and FX trading, automation for cash management and monitoring, configurable alerts, as well as sub-accounts and treasury accounts that generate yield.
Amit Kahana, head of credit, treasury, and cash management at Pleo, emphasizes the centrality of automating manual workflows and processes, reconciliation, and integrating with existing tools. He states, “Stepping into treasury was an easy decision for us, especially considering that many of our customers are already utilizing our cash management solutions.”