How Lang saved hiring additional headcount with Ramp x Rillet
Rillet is an accounting software designed to make the life of a finance professional easier. All the tasks that take an accountant the most time (revenue recognition, transaction matching, and prepaids), Rillet automates. Because they have native integrations with Ramp and other sources of financial data, they are able to provide reports and metrics at the click of a button.
Lang.ai needed to amplify the outputs of a lean finance team without adding overhead
Lang.ai is an AI platform that unlocks customer experience data and turns it into real-time insights. They hired an experienced CFO, Javier Cortes, at the beginning of 2023. Javier wanted to maximize the impact he could have on the business through automation, without incurring the overhead of bulky software tools or the cost of hiring a full-time Finance Manager.
In today’s business environment, efficiency isn’t just a goal; it’s a necessity for sustained growth. For startups, where innovation and speed are paramount, this is particularly true in the finance department.
It is easier now than ever before to add automation, but often at the expense of granularity and accuracy. It was imperative to Lang that any platform they implemented did not sacrifice quality for speed or ease of use.
For Lang.ai, the right solution had to achieve two critical outcomes:
- Substantially reduce their book close time
- Allow Javier to spend more time on strategic finance work, avoiding the immediate need for a Finance Manager
From day one, Lang’s finance stack depended on Ramp’s corporate cards, reimbursements, and bill pay. Ramp’s accounting automations were crucial to Lang closing their books efficiently. When Lang implemented Rillet, the combination unlocked even further capabilities.
Rillet’s ethos, like Ramp’s, is that quality accounting data is the foundation that successful companies are built upon; through well-designed workflows and integrations accounting can not only be automated, but improved.
Rillet + Ramp addressed Lang.ai’s needs by:
- Empowering Javier to oversee the financial strategy with high-level precision and control.
- Ensuring that manual accounting tasks were handled with more speed and fewer resources, confirming that no additional finance personnel were needed.
Javier was able to connect Ramp and Rillet directly in the Rillet platform. His existing accounting rules automatically transferred to Rillet and he was able to immediately see Ramp transactions in his general ledger in a drillable format.
As a software business, Lang had annual bills with vendors like Salesforce, insurance providers, and Okta. Because of the integration those bills automatically populated in Rillet and could then be amortized across the year, saving them 5 hours per month on booking expenses prepaids and smoothing Lang’s margins for a more consistent period to period financial comparison.
With Ramp data imported, as well as revenue data from Stripe and CRMs, Rillet provides SaaS metrics and a SaaS P&L out of the box. These reports are fully drillable back to source data. Javier says “The native integration helps with very fine grained reporting and linking bills back to source transactions in Ramp”.
Ramp’s accounting automation combined with Rillet created immediate ROI for Lang
- Ramp’s accounting workflows took under 5 minutes to set up and integrate with Rillet
- Month-end close went from 12 days to 6 days the first month using Ramp+Rillet
- SaaS metrics and reports provided out of the box, fully drillable back to the source data
- Ten months after implementation, Javier has reduced his hours spent on accounting without having to hire a Finance Manager - saving Lang over $100,000 in salary and benefit expenses
Javier said “As a CFO, I always look for ROI when I want to invest in solutions. We’re growing as a company so I know that if I didn’t have Rillet and Ramp, I would probably have to hire someone. So to me, it’s worth it”
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