Ramp expands into expense management, is the fastest growing corporate card in America

- The traditional process that companies have used to issue cards, manage expenses, and reconcile their books is complicated and wasteful.
- Ramp is more powerful than the traditional approach of splitting purchases between basic corporate cards and into a separate expense management product.
- Ramp has become America's fastest growing corporate card by helping companies spend less.

Ramp, the first corporate card built to help businesses spend less, is expanding into expense management.
While Ramp only launched six months ago, we are already powering hundreds of millions of dollars of purchases each year for our customers.
Today, we are thrilled to share that Ramp now comes built-in with sophisticated expense management for all customers. Our customers are saving an average of 5 days of work per month by replacing inefficient and costly expense report processes with Ramp.
The traditional process that companies have used to issue cards, manage expenses, and reconcile their books is complicated and wasteful.
Traditionally, companies have limited controls built in to their corporate cards, have to wait several days after a transaction for a bank feed to sync from their corporate card into an expense management software, and make employees spend a great deal of time after the fact to code expenses. Following this, finance teams spend hours manually nagging employees for receipts, and employees often footed the company bill interest free until they were reimbursed. This tedious process has created a culture of expense reports that are normally completed days to weeks late, incomplete books, and limited visibility into spend until the following month.
Ramp is more powerful than the traditional approach of splitting purchases between basic corporate cards and into a separate expense management product.
On Ramp, companies can review/approve employee spend requests in real time on the website or via Ramp’s industry-first slack integration, issue physical or virtual cards that can be restricted by merchant for one time or recurring spending, and once the purchases are made, Ramp automatically codes and syncs expenses through to the company’s books.
“Getting started with Ramp was extremely quick and painless,” said Clubhouse’s senior accountant Shafak Ilyas. “Ramp has helped us automate and cut days off our month-end closing process. Before Ramp, closing the books used to take us days — now it takes about an hour a month. With Ramp, everything is quicker." Christina Cooksey, Head of Creative Production at Red Antler, noted that, "It is a point of stress and a mental burden lifted off. No more stacks of receipts sitting on my desk staring me in the face or finance charges ticking up personal cards."
Ramp has become America's fastest growing corporate card by helping companies spend less.
Ramp is the only corporate card that helps its customers spend less. Since the COVID-19 pandemic has started, Ramp has identified millions in savings opportunities for its customers, finding the average customer $130,000 in annual cost reductions. With expense management built-in to Ramp, customers can cut their costs even further. Generally, companies paying over $100 per employee for expense management software, and the typical cost of reviewing and processing is estimated to be an additional $50 per report in time overhead. On Ramp, sophisticated expense management software comes fully built-in and employees are able to complete their expenses in a fraction of the time, leading to additional cost savings for companies.
We hope that in the years to come, all cards look and feel more aligned with their customers’ best interests. That’s how it should be.
Thanks for reading, and we hope you'll try us out for your company by applying at: www.ramp.com. If you have any questions, feel free to give us a shout at [email protected].
“Our previous bill pay process probably took a good 10 hours per AP batch. Now it just takes a couple of minutes between getting an invoice entered, approved, and processed.”
Jason Hershey
VP of Finance and Accounting, Hospital Association of Oregon

“When looking for a procure-to-pay solution we wanted to make everyone’s life easier. We wanted a one-click type of solution, and that’s what we’ve achieved with Ramp.”
Mandy Mobley
Finance Invoice & Expense Coordinator, Crossings Community Church

“We no longer have to comb through expense records for the whole month — having everything in one spot has been really convenient. Ramp's made things more streamlined and easy for us to stay on top of. It's been a night and day difference.”
Fahem Islam
Accounting Associate, Snapdocs

“It's great to be able to park our operating cash in the Ramp Business Account where it earns an actual return and then also pay the bills from that account to maximize float.”
Mike Rizzo
Accounting Manager, MakeStickers

“The practice managers love Ramp, it allows them to keep some agency for paying practice expenses. They like that they can instantaneously attach receipts at the time of transaction, and that they can text back-and-forth with the automated system. We've gotten a lot of good feedback from users.”
Greg Finn
Director of FP&A, Align ENTA

“The reason I've been such a super fan of Ramp is the product velocity. Not only is it incredibly beneficial to the user, it’s also something that gives me confidence in your ability to continue to pull away from other products.”
Tyler Bliha
CEO, Abode

“Switching to Ramp for Bill Pay saved us not only time but also a significant amount of money. Our previous AP automation tool cost us around $40,000 per year, and it wasn’t even working properly. Ramp is far more functional, and we’re getting the benefits at a fraction of the cost.”
Frank Byers
Controller, The Second City
