New Forrester study shows Ramp delivered 503% ROI to customers

What do businesses get from automating their finance operations with Ramp? Time back, cost savings, and a sense of relief that add up to a 503% return on investment, according to Forrester.

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Recently, Forrester Consulting conducted an independent study to measure Ramp's potential impact on customers and their businesses. Their results are in: customers interviewed saw a substantial return on investment, saving $90k and over 6,500 hours of work for employees after three years with Ramp.

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To see the full analysis, download The Total Economic Impact™ Of Ramp study.

Customers saved thousands of dollars—and hours—each year

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As part of the commissioned study, Forrester spoke with companies with as many as 1,500 employees to create a 250-person composite organization. Ramp helped customers significantly reduce wasteful spending by consolidating their finance tools and improving their employees’ efficiency. 

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Benefits broke down along these lines for the composite organization:    

• Cost savings for the company: Ramp cut the number of finance tools businesses needed to issue corporate cards, control expenses, pay invoices, automate accounting, manage procurement, and more. AI-powered automation analyzed incoming transactions to prevent common errors like duplicate invoices and out-of-policy spending. Cashback rewards and vendor discounts led to additional savings. 
• Time savings for accounting teams: Ramp automatically coded transactions and followed up on out-of-policy expenses, speeding up reconciliation and saving the organization 1,200 hours of accounting work. 
• Even more time savings for employees: Ramp gave 5,400 hours back to employees outside of finance by automating their expense submissions. The software collected receipts, categorized transactions, and routed expenses for approval—all of which helped employees spend less time on menial work and more time on higher priorities.

Finance teams set up and rolled out Ramp in weeks

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While enterprise tools often require long and involved implementation periods, customers told Forrester that Ramp was seamless to set up and easy for employees to adopt. It usually takes just one full-time employee to roll out Ramp over the span of a few weeks. Businesses with established policies and approvals reported needing even less time. A Head of Accounting at a financial services company said, “[We issued] a corporate card in seconds, and Ramp hooked up to our ERP system right away.”

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The combination of significant savings and low setup costs led Forrester to conclude that the composite organization saw a 503% return on investment within three years of switching to Ramp. 

Let Ramp get to work for you

Help your business grow faster with tools that work tirelessly on your behalf. Ramp is a modern financial operations platform that delivers tangible savings. Download the Forrester study to see how Ramp has helped enterprises of all sizes work more efficiently. Then join us for a webinar on July 9th featuring Forrester and Ramp customer Smart City as guest speakers discussing the benefits and costs of modern-day finance automation.