Payments and expense app Expensify has restructured the pricing of its basic "Collect" offering, which the company said will make it more accessible to small and midsized businesses.
Under the new Collect plan, in effect now, companies pay a flat rate of $5 per member per month for access to Expensify features including expense tracking, corporate cards, travel booking and team chat, according to the company. Previously under the Collect plan, Expensify charged a higher rate of $20 per active member, rather than total members, per month with discounts available. For example, customers with annual subscriptions had a reduced charge of $10 per active member per month, and customers with annual subscriptions who had at least half of their settled U.S. spend on the Expensify Card saw that reduced to $5 per active member per month, according to the company.
In a message to clients, Expensify founder and CEO David Barrett said that pricing, which was "kind of complicated," had been developed to support larger clients, who typically only have about a third of their employees active on the platform each month, with the makeup of that third changing month to month.
"All these features work great for a larger, more sophisticated customer, to dial in the exact right price for any given configuration," Barrett said in the message. "But it's created a lot of confusion for our smaller customers that just want something simple."
The new flat pricing also applies to customers outside of the U.S., who had not been able to access to the discount for using the Expensify Card, Barrett said. Rates outside the U.S. include £5 per member per month in the U.K., A$8 per member per month in Australia and NZ$9 per member per month in New Zealand.
Expensify also offers a customizable "Control" pricing offering, which charges on a per active member per month basis, according to the company.