October 30, 2020

Introducing Ramp vendor management

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Companies spend billions on software each year and the average business using Ramp is managing hundreds of subscriptions at once.  We’ve heard software eating the world, but it’s eating up our customer’s budgets too. It’s become nearly impossible to keep track of every service that its workforce has purchased, making wasteful spending rampant at most companies where you may have five different subscriptions for the exact same service. We expect this problem to only increase as more people than ever work remotely, and adopt new tools to keep them productive and collaborative.

Ramp is here to help businesses regain control and implement critical vendor management best practices, while still empowering people to adopt the tools they need. Today, we’re excited to introduce Ramp Vendor Management, a new way to track and manage payments to all vendors across a company. With Ramp's Vendor Management platform, finance teams can:

  • Get a birds eye view of all payments. Ramp will automatically identify and collect all vendors and contract owners in one place, notify when the next payment is due, and track how much has been spent with each vendor over time.
  • Streamline purchasing. Ramp centralizes all requests and approvals for new vendors, eliminating "shadow IT" while empowering people to add the services they need in a simplified, controlled way.
  • Eliminate wasted spend. On average, 38% of software licenses are inactive each month. Ramps makes it easy to spot any duplicate spending and set limits or rules around new vendors. We’ll even look for better deals with the vendors already in use, so businesses can save even more.


Tools that help people track and manage their subscriptions and recurring payments have long existed for individuals. Most are familiar with Mint, which helps people to keep an eye on recurring bills and subscriptions, so they can budget accordingly. We created Vendor Management because we believe businesses should be empowered with this same sense of transparency and simplicity, without needing to manage several different spreadsheets and services.

Ramp is excited to empower finance teams to cut down on spend by predicting the future. Vendor Management takes us one step further on our journey to be the only corporate card that actually strengthens a businesses finances. On average, a company with 100 employees that uses Ramp saves $15,000 a month today. We measure our success on our ability to increase this number over time, and we believe Vendor Management will be an important step in that direction!

If you’re a business that would like to get started with Ramp, sign up today.

VP of Product, Ramp

Geoff has been building financial services for over 10 years, ranging from management consulting at Oliver Wyman to product development at LendUp, Nomis Solutions, and Mission Lane.

FAQs

How Crossbeam saved $10K+ with Ramp Price Intelligence

“Right now, I text a group of colleagues and search online—but being able to know within a 5% variance that we are solid on pricing? That gives me peace of mind."
Matt Dougherty, Senior Director of Finance, Crossbeam

How Clearbit closed the books >60% faster with Ramp + NetSuite

“Before Ramp, our month-end close took approximately 10 days. Now it takes three to four days—it's unbelievable.”
Kay Coolican, Accounting Manager, Clearbit

How Ramp helped Webflow lay a foundation for sustained growth

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Ivan Makarov

How Candid expanded internationally with Ramp

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Nick Greenfield, CEO, Candid

How FirstBlood’s switch to Ramp sped up their monthly close

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Kyle Potter, CFO, FirstBlood

How Elementus overhauled its spend management with Ramp

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Matt Austin, Vice President of Operations, Elementus

How Eight Sleep consolidated their finance stack and launched a new product with Ramp

“Identifying the invoice, finding it in Ramp Bill Pay, and flexing it from there, takes all of one minute…it’s only a few clicks and you’re done.”
Irish Rose, Controller, Eight Sleep

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