ResourcesArticles
News
March 23, 2022

Download our new report: finance automation and how it’s driving finance-led growth

Spending made smarter
Easy-to-use cards, spend limits, approval flows, vendor payments —plus an average savings of 3.5%.
|
4.8 Rating 4.8 rating
Error Message
No personal credit checks or founder guarantee.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Webinar: Intro to Ramp Plus
Sept. 28th, 1 PM ET/ 10 AM PT

As finance teams consider strategies to stay competitive and increase their ROI, they’re exploring different ways to gain a foothold in their respective industries. One common theme across the board for teams looking to stay ahead of the curve? Finance automation. We’re excited to announce our new report, “Finance Automation: The Key to Finance-Led Growth” is live today. The report shows that finance automation platforms are becoming a necessity for finance teams looking to have an impact and differentiate themselves from the competition.

A new era of finance automation

While the term “finance automation” isn’t brand new, it has come to encompass a new wave of advancement in finance functions. Finance automation is the utilization of technology to replace manual tasks and processes. It eliminates tedious, time-consuming work, such as manually uploading receipts, in favor of meaningful, strategic projects that can actually move the needle. Companies equipped with powerful financial operations (FinOps) and finance automation are able to save time and money, and set themselves up for finance-led growth.

How our report is helping finance teams achieve more

Our report has the information finance decision makers need to cut down on manual work and focus on strategic initiatives. So their teams can finally work on the business, instead of just in it.


image

Our key findings

In our report, we asked 500+ finance leaders about how they’re viewing finance automation in 2022. From how they’re investing in finance automation functions, to the biggest concerns about implementing this technology, our report reveals valuable insights, including:


  • Despite automating, only half of all finance leaders have real-time visibility into spending: 91% of finance leaders think real-time visibility is critical, but only half have it.

image

  • Most finance leaders don’t feel confident about the ability to measure their spend: Nearly 6 in 10 finance leaders don’t feel confident about their organization’s ability to measure wasted spending.

image

  • Over half of finance leaders think finance automation gives them an advantage in productivity: 61% believe that increased productivity from automation has created a competitive advantage for their organizations.

image


  • Most finance leaders see a greater need for processes that can support additional decentralized spending: 87% say there is a greater need for processes that can support more decentralized spending while also maintaining cost control.

image

Get the full report

Download the full report today. With insights from over 500 finance leaders and CFOs, our finance automation report will give your team the data and tools necessary to stay ahead of the competition.

Sr. Content Marketing Manager, Ramp

Stefanie Gordon is the Senior Content Marketing Manager at Ramp. Prior to Ramp, she worked as a content strategist at two digital marketing agencies, iQuanti and Aurora Marketing, and as a finance reporter at Institutional Investor, where she covered everything from options to pension funds. Stefanie graduated from the University of Delaware with a degree in English and a concentration in journalism and later earned an MA in education from NYU. When she isn't immersed in content and thought leadership, Stefanie loves to play any and all racquet sports.

Ramp is dedicated to helping businesses of all sizes make informed decisions. We adhere to strict editorial guidelines to ensure that our content meets and maintains our high standards.

FAQs

How First Tee transformed its bookkeeping and saved time with PwC and Ramp

"The efficiency of using PwC Bookkeeping Connect, coupled with the Ramp platform, has probably been about 75% time savings. Instead of every hour I would have had to spend on bookkeeping, I’m probably having to spend maybe 10 or 15 minutes.”
Dan Burke, CEO, First Tee San Francisco

How Mix Talent cut costs, gained transparency, and improved efficiency with Ramp

"I use Ramp’s functionality to examine the contracts and understand whether we’re getting the best terms, as opposed to just trying to get the bill paid. Ramp has allowed us to project cash flow so much better."
Paul Streitenberger, Accounting & Finance Lead, Mix Talent

How The Joffrey Ballet cut their month-end close time with Ramp

“One of the things I was looking for, and which Ramp has done for me beautifully, is to consolidate credit cards, ACH payments, check payments, and reimbursements into one place and give us a full picture for insights."
Gee Hoon Lim, Director of Finance, The Joffrey Ballet

How Beyond sped up reconciliation time 8x faster with Ramp

“With Ramp we close in 5-6 days, which is pretty quick for a company with four different subsidiaries."
Jake Steele, Senior Staff Accountant, Beyond

How Ramp helped Barry’s save 400 hours/month on expense report headaches

“As we scale we need tools that are built to scale with us - we need to see expenses real time, we need to see duplicate spend. These types of insights are important to the health of our business.”
Steve Padis, SVP Finance & Strategy, Barry’s

How Seed optimized card management, increased compliance, and prepared for scale with Ramp

“Ramp is helping us build a closed loop of financial feedback if you will, we’ve gained visibility, accuracy, and control.”
Sarah Bird, Controller, Seed

How Ramp enabled Glossier to save 5 hours/week and easily integrate with NetSuite

“We were in disbelief. We were not prepared for the speed of execution.”
Roxane Cosnard des Closets, Senior Manager of Financial Systems at Glossier