In this article
You might like
No items found.
Spending made smarter
Easy-to-use cards, spend limits, approval flows, vendor payments —plus an average savings of 5%.1
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.
Get fresh finance insights, monthly
Time and money-saving tips,
straight to your inbox
4.8 Rating 4.8 rating
Thanks for signing up
Oops! Something went wrong while submitting the form.
Table of contents

We just released a new Spending Benchmarks report, revealing the latest trends we're seeing in anonymized spending data from Ramp's 15,000+ businesses in Q4.

The main takeaway? Businesses are feeling more optimistic, with customers increasing their recurring advertising and software spend for six consecutive months and transaction count rising 5% over the last quarter. Where are those dollars going? See our top trends below.

Greater focus on AI safety

Rapid experimentation with AI vendors was a recurring theme in 2023. New names consistently rotated through our fast-growing software vendor list. Perplexity, Anthropic, and Instill AI all debuted on the list in Q4. 

AI software is nascent, so it’s no surprise that businesses are testing new tools. What’s noteworthy, however, is the growing interest in tools that emphasize safe and responsible AI, perhaps in reaction to recent headlines about AI hallucinations. Perplexity in particular is known for bolstering its AI answers with citations while Anthropic is a leader in AI safety research.

New software procurement slowing down

Companies that are in the same stage of their life on Ramp have fewer software vendors compared to past years, signaling that organizations are being more discerning about which tools offer the most value. 

Finance teams still need to watch their budget even if they’re not actively adding new tools. Our net revenue retention data show Amazon Web Services customers more than double their median spend
on the service after 18 months. Twilio is another one to watch—median spend jumps 189% between month 1 and month 18. See our full report for even more data to help you benchmark costs, including average savings from contract negotiations with top vendors.

Businesses are back on TikTok 

After flatlining in recent quarters, advertising card spend is back on the rise, especially among small SMBs and mid-market companies. One standout beneficiary of the advertising boom is TikTok Ads, where spending rose in Q4 after three quarters of decline. TikTok Shop, the company’s new “shoppable video” initiative, also took a top spot on our list of fastest-growing advertising channels by customer count. 

However, not all businesses are flocking back: while small SMBs significantly boosted spending with the channel, large SMBs companies decreased spending on TikTok more than any other advertising vendor. Our vendor data also show that companies that spend with TikTok Ads tend to prioritize it over other platforms in year one, but Facebook and Google overtake it in year two.

Grab the full report  

Check out our full report for even more insights into how expenses are shifting by company size, sector, and vendor—and tips to keep those costs under control. 

Try Ramp for free
Error Message
No personal credit checks or founder guarantee.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Content Lead, Ramp
Fiona writes about B2B growth strategies and digital marketing. Prior to Ramp, she led content teams at Google and Intercom. Fiona graduated from UC Berkeley with a degree in English. Outside of work, she spends time dreaming about hiking the Pacific Crest Trail one day.
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.


How Crowdbotics streamlined, centralized, and saved with Ramp

“We switched from our legacy provider to Ramp in under a week and heard zero complaints."
Miles Lavin, VP of Strategic Finance, Crowdbotics

How Ramp Helped REVA Air Ambulance Save Time, Improve Visibility, and Gain Peace of Mind

“We were able to mold Ramp to our company to set it up as needed within departments. But the biggest selling feature to us was the automatic, real-time integration with Sage.”
Seth Miller, Controller, REVA

How Heyday Skincare gained control over 23+ entities with Ramp

“Ramp has been a saving grace by organizing and consolidating systems and giving us real time visibility across 23 entities.”
Shawn Gordon, Sr. Accounting Manager, Heyday Wellness

How Ramp helped Rustic Canyon Restaurant Group promote a culture of financial awareness and responsibility

"Ramp has helped promote a culture of awareness and accountability, there's no swipe your card and forget about it, people are more attuned to why and how they are spending."
Derek Arnette, Controller, Rustic Canyon Restaurant Group

How Ramp helped Viking Well Service institute a more efficient expense management process

“Having the purchase order and bills all in one place just makes a whole lot more sense for the type of business that Viking’s doing, because you can simplify it down to a one-line-item type deal. That’s really important for control purposes, for visibility."
Chris Lowdermilk, Senior Controller, Viking Well Service

How Ramp Procurement helped NPHY simplify, save time, and improve transparency

“Before Ramp Procurement, requests could take up to a month. Now the process is complete in a matter of days, meaning we can get much needed supplies and focus on delivering care to our clients (teenagers in crisis) faster.”
Michelle LaBonney, Director of Finance & Operations, Nevada Partnership for Homeless Youth

How Betterment manages corporate spend for five entities with Ramp

“With Ramp, we can save rules directly to the card. Transactions from any of our monthly vendors come in already coded, so that’s been a huge time saver.”
Marianne Hawes, Senior Accountant, Betterment