Get the best price for software with Ramp’s Vendor Management and Price Intelligence
- How to know if your vendor management is broken
- How Ramp is eliminating vendor and pricing pain for our customers
- A better way to manage your vendors is here
While new advancements in tech have been transforming how finance teams operate, vendor management has remained rife with manual work and inefficiencies. Finance teams are managing all their vendor data in spreadsheets and chasing down employees for contracts. As a result, businesses are at risk for missing renewal deadlines and spending too much on software.
Until now. Starting today, all customers will have access to Vendor Management with built-in software Price Intelligence.
"We’re over a hundred SaaS contracts across our business, so even paying 5 or 10% too much on a contract can add up really fast." - Susan Alexander, Contracts Director at Carpe Data
With a single, holistic view into your vendors, you’ll be able to automatically track every piece of data and discover pricing insights in one convenient place. Here at Ramp, we process over $1 billion per month in spend across 15,000 companies and believe in democratizing this data for the benefit of our users.
How to know if your vendor management is broken
The current state of vendor management is disorganized, with software pricing in a black box.
- You don’t have a single source of truth: Your vendor pricing terms, contracts, contact and payment details and tax information are all located in different systems or cloud storage with the critical details manually tracked in spreadsheets. This results in more time and energy spent sorting through endless records to get even basic questions answered about your vendors.
- You’re missing deadlines: It can also lead to missed contract renewal dates, which can result in either operational panic as your team scrambles to push spend sign-off through layers of approvals or an inability to properly forecast expenses and consequently overspend.
- It’s difficult to report on vendor spend: Having numerous sources of vendor transactions without the ability to filter by category or vendor owner can make it difficult for your team to have full visibility into spend and strategically use vendor spend data to discover ways to cut back in high-cost areas. This decentralized and complicated system can make gaining an up-to-date snapshot of your total spend both difficult and time-consuming.
- You’re overspending on SaaS: The high volume of software vendors paired with the fact that SaaS providers have notoriously opaque and complex pricing models makes it very difficult for your finance team to understand if they're getting a good deal or not, consequently leading to overspending. It can also result in your business entering a lengthy negotiations process they don’t have time for.
“Being armed with that benchmark data, that will ease the mental gymnastics I go through but more importantly, it will save our company real dollars.” - Michael Guiney, Director of Finance, Greynoise
How Ramp is eliminating vendor and pricing pain for our customers
With our newest capabilities, Ramp offers a better way to manage your vendors and make the most of every dollar:
- Uncover spend insights: No more endlessly sorting through multiple data sources. Vendor Management automatically tracks transactions for every business you pay and provides a single dashboard view for all your vendor details and contracts so you can discover answers about your vendors quickly and easily, e.g.:
How much have we spent on software the past 12 months?
How much has each department spent the past 90 days?
How many contracts do we have coming up for renewal?
- Discover the best price on software:Save money and uncover the true costs of software. Price Intelligence uses spend data provided by thousands of businesses and millions of Ramp transactions to benchmark your contract and compare pricing down to the cost-per-seat, so you always know if you’re getting a good deal.
- Instantly track contract details: Upload your vendor contracts, and Ramp uses AI to automatically extract every key detail into a vendor record for you, saving you a ton of time. You can also set up 30- or 60-day renewal reminders so you never get caught off guard.
A better way to manage your vendors is here
With Vendor Management and Price Intelligence in Ramp, customers now have a single source of truth for all their vendor data, can uncover true software costs, and have access to added time saving functionality. See how our new features can benefit your business today. Sign up for Ramp.
“When our teams need something, they usually need it right away. The more time we can save doing all those tedious tasks, the more time we can dedicate to supporting our student-athletes.”
Sarah Harris
Secretary, The University of Tennessee Athletics Foundation, Inc.
“Ramp had everything we were looking for, and even things we weren't looking for. The policy aspects, that's something I never even dreamed of that a purchasing card program could handle.”
Doug Volesky
Director of Finance, City of Mount Vernon
“Switching from Brex to Ramp wasn’t just a platform swap—it was a strategic upgrade that aligned with our mission to be agile, efficient, and financially savvy.”
Lily Liu
CEO, Piñata
“With Ramp, everything lives in one place. You can click into a vendor and see every transaction, invoice, and contract. That didn’t exist in Zip. It’s made approvals much faster because decision-makers aren’t chasing down information—they have it all at their fingertips.”
Ryan Williams
Manager, Contract and Vendor Management, Advisor360°
“The ability to create flexible parameters, such as allowing bookings up to 25% above market rate, has been really good for us. Plus, having all the information within the same platform is really valuable.”
Caroline Hill
Assistant Controller, Sana Benefits
“More vendors are allowing for discounts now, because they’re seeing the quick payment. That started with Ramp—getting everyone paid on time. We’ll get a 1-2% discount for paying early. That doesn’t sound like a lot, but when you’re dealing with hundreds of millions of dollars, it does add up.”
James Hardy
CFO, SAM Construction Group
“We’ve simplified our workflows while improving accuracy, and we are faster in closing with the help of automation. We could not have achieved this without the solutions Ramp brought to the table.”
Kaustubh Khandelwal
VP of Finance, Poshmark
“I was shocked at how easy it was to set up Ramp and get our end users to adopt it. Our prior procurement platform took six months to implement, and it was a lot of labor. Ramp was so easy it was almost scary.”
Michael Natsch
Procurement Manager, AIRCO
