I’m thrilled to share that Buyer is joining Ramp. By combining Buyer’s saving and procurement expertise with Ramp’s powerful finance automation platform, we’ll help businesses grow even faster.
To all the Buyer customers, my deepest thanks for supporting our journey over the last 1.5 years. The best part of building Buyer was getting to work with amazing companies and supporting your growth.
Let me share what’s next for the Buyer team.
What we set out to achieve with Buyer
The idea for Buyer initially came out of a collaboration with Tiny Capital to help companies in their portfolio optimize their SaaS and infrastructure bills. In the first few months, we set Tiny on a path to save millions over the next few years.
When we launched Buyer to the broader public in July 2020, our goal was simple: help companies save time and money by negotiating better rates for their software.
Our service found instant traction because SaaS pricing is a total black box once companies reach a certain size. Everyone knows they’re overpaying for their software but nobody knows how to unlock better pricing. For those who do know, they don’t have the time to research and negotiate with vendors. Companies need a procurement team but typically de-prioritize it until the problem is too great. Once a procurement team is set up, they are playing defense for the next 6-12 months.
Buyer gave businesses instant access to an on-demand procurement team, no matter their size. We helped our customers maximize the value of their purchases by finding them savings on new procurement, contract renewals, and existing spend. On average, customers saved an average of 27.3% across all of their software purchases negotiated by Buyer, which represented millions of dollars in savings.