July 29, 2021
Product update

Ramp Rewind: Smarter spend controls, visibility, and efficiency

,

Editor’s note: This is the first in a series of quarterly Ramp Rewind posts to get you up to speed on the latest product updates we’ve built.

Time is money—the more time you spend on tedious tasks like fixing expense report errors, the less time you spend actually growing your business. Here’s what we’ve been building recently to help Ramp customers to work smarter and save more time and money. 


Best-in-class spend controls, down to the vendor level

To properly manage spend, finance teams need the ability to quickly issue cards with the right controls and specify which vendors employees can spend with. Google for paid ads?Yes. Starbucks for your daily caffeine kick? No.

Ramp is the only corporate card that gives you granular merchant-level controls to block unapproved vendors from charging company cards. Blocking bad merchants on company cards is now as easy as blocking spam callers on your phone!

Ramp merchant restrictions


In addition to daily, monthly, and annual card limits, you can also issue cards with weekly limits now, perfect for those employee lunch benefits.

Our card programs let you roll out cards to your whole company with a single click. Create card templates for common benefits and activities like annual education stipends, home office setup, and team lunches. Got new team members joining? Speed up onboarding by specifying default cards that should be automatically issued to new team members.

Ramp card programs


Visibility into the expenses that matter

You want to know about the $250k Salesforce spend before the receipt lands on your desk. Ramp admins can now create multi-step approval processes to route card and reimbursement requests based on spend amount and ensure the right folks are in the know.  


Ramp multi-step approval flows

If you live and breathe by your Slack notifications, use our integration to easily review and approve requests directly in Slack. You can also set it up to ping when important transactions happen. We’ve partnered with Slack to offer 25% off eligible plan upgrades (Ramp users, you can find this discount in the Insights tab).  


Ramp integration with Slack


Admins can also set up fine-grained email alerts for transactions that exceed a certain dollar amount in different categories, merchants, or departments. Specify who should get alerted and create flag rules to automatically mark those transactions as being out of policy. 

Ramp transaction alerts and flags


Ramp’s daily digest emails help admins stay on top of other important changes to company finances, such as:

  • Large transactions
  • Increases in vendor spend
  • Upcoming bills
  • New vendors
  • New cards issued 

Ramp daily digests

Line managers need visibility as well. They now have better insight into how much their team is spending and opportunities to save within the platform.  


Efficient accounting reconciliation

The easiest way to annoy your accounting team is to make them spend time correcting expense reports. Thankfully, Ramp admins can reduce errors by filtering the accounts that are visible by team. For instance, marketing teams should only see—you guessed it—marketing categories.

Now admins can go one step further and relabel cryptic-sounding GL accounts in Ramp so employees can quickly find the right ones when submitting their reports. The less guesswork they do, the fewer errors you have to fix.  

Ramp GL filtering


Use NetSuite? Our Built for NetSuite integration automatically codes transactions, syncs transactions across multiple entities, splits transactions, and more.

Ramp Built for NetSuite integration

If managers and finance teams spot an unauthorized transaction, they can directly flag it on the dashboard to trigger an alert to the employee. 


Ramp transaction flags


Even more savings with Plastiq

With Ramp, you get 1.5% cashback on all transactions. For vendors who don't accept cards, use Plastiq to charge your Ramp card and send out payment via ACH, wire, or check. That way, you can get cashback for big expenses like inventory, office leases, and logistics while preserving your cash reserves. Ramp users pay a discounted 2.5% fee for Plastiq vs the standard 2.85%. Learn more about our Plastiq partnership  



Want to see if Ramp can help you with your spend management? Sign up for free. Want to join our mission to help businesses save more money? Check out our open roles

TK Kong
Product Manager, Ramp

In addition to being a key member of the Ramp product team, TK is also the chief meme officer at Ramp. Before Ramp, he was a product design intern at Facebook Groups and Facebook Marketplace. Learn more about his work and interests at tkkong.com.

Ramp Rewind: Smarter spend controls, visibility, and efficiency

July 29, 2021
by
TK Kong
,
Product Manager, Ramp

Editor’s note: This is the first in a series of quarterly Ramp Rewind posts to get you up to speed on the latest product updates we’ve built.

Time is money—the more time you spend on tedious tasks like fixing expense report errors, the less time you spend actually growing your business. Here’s what we’ve been building recently to help Ramp customers to work smarter and save more time and money. 


Best-in-class spend controls, down to the vendor level

To properly manage spend, finance teams need the ability to quickly issue cards with the right controls and specify which vendors employees can spend with. Google for paid ads?Yes. Starbucks for your daily caffeine kick? No.

Ramp is the only corporate card that gives you granular merchant-level controls to block unapproved vendors from charging company cards. Blocking bad merchants on company cards is now as easy as blocking spam callers on your phone!

Ramp merchant restrictions


In addition to daily, monthly, and annual card limits, you can also issue cards with weekly limits now, perfect for those employee lunch benefits.

Our card programs let you roll out cards to your whole company with a single click. Create card templates for common benefits and activities like annual education stipends, home office setup, and team lunches. Got new team members joining? Speed up onboarding by specifying default cards that should be automatically issued to new team members.

Ramp card programs


Visibility into the expenses that matter

You want to know about the $250k Salesforce spend before the receipt lands on your desk. Ramp admins can now create multi-step approval processes to route card and reimbursement requests based on spend amount and ensure the right folks are in the know.  


Ramp multi-step approval flows

If you live and breathe by your Slack notifications, use our integration to easily review and approve requests directly in Slack. You can also set it up to ping when important transactions happen. We’ve partnered with Slack to offer 25% off eligible plan upgrades (Ramp users, you can find this discount in the Insights tab).  


Ramp integration with Slack


Admins can also set up fine-grained email alerts for transactions that exceed a certain dollar amount in different categories, merchants, or departments. Specify who should get alerted and create flag rules to automatically mark those transactions as being out of policy. 

Ramp transaction alerts and flags


Ramp’s daily digest emails help admins stay on top of other important changes to company finances, such as:

  • Large transactions
  • Increases in vendor spend
  • Upcoming bills
  • New vendors
  • New cards issued 

Ramp daily digests

Line managers need visibility as well. They now have better insight into how much their team is spending and opportunities to save within the platform.  


Efficient accounting reconciliation

The easiest way to annoy your accounting team is to make them spend time correcting expense reports. Thankfully, Ramp admins can reduce errors by filtering the accounts that are visible by team. For instance, marketing teams should only see—you guessed it—marketing categories.

Now admins can go one step further and relabel cryptic-sounding GL accounts in Ramp so employees can quickly find the right ones when submitting their reports. The less guesswork they do, the fewer errors you have to fix.  

Ramp GL filtering


Use NetSuite? Our Built for NetSuite integration automatically codes transactions, syncs transactions across multiple entities, splits transactions, and more.

Ramp Built for NetSuite integration

If managers and finance teams spot an unauthorized transaction, they can directly flag it on the dashboard to trigger an alert to the employee. 


Ramp transaction flags


Even more savings with Plastiq

With Ramp, you get 1.5% cashback on all transactions. For vendors who don't accept cards, use Plastiq to charge your Ramp card and send out payment via ACH, wire, or check. That way, you can get cashback for big expenses like inventory, office leases, and logistics while preserving your cash reserves. Ramp users pay a discounted 2.5% fee for Plastiq vs the standard 2.85%. Learn more about our Plastiq partnership  



Want to see if Ramp can help you with your spend management? Sign up for free. Want to join our mission to help businesses save more money? Check out our open roles

Don’t miss these
Announcing merchant restrictions: first-of-its-kind ability to approve or block merchants on your card
Multi-step approvals for corporate card requests and reimbursements
Announcing the Plastiq and Ramp partnership: Lower fees for all your corporate costs
Meet our customers

How we helped Squared Away find extra savings automatically

How we helped Brigit get a customer-centric corporate card solution

How we helped Mode track spend in real-time

How we helped Eight Sleep automate their accounting

How we helped WayUp put expense reports on auto-pilot

How we help Red Antler centralize its company spend

Learn more about Ramp

Streamline approvals.
Review requests, pre-approve expenses, and issue general expense cards in a few clicks – or directly in Slack. Delegate approvals and empower your team leads to spend on the things they need and control their team’s expenses.
Learn more
Issue instant cards.
Unlimited virtual and physical cards with built-in spend limits, instantly available for everyone in your team. Define spend rules and let your smart cards enforce your policies automatically. No more surprises or under-the-radar spending.
Learn more
See spend as it happens.
Stop waiting on monthly statements or manual spreadsheets. Find, browse, and download real-time transactions from any employee, department, or merchant – on any device.
Learn more
Close your books 5x faster.
An accounting experience by finance teams, built for speed and efficiency. Automate manual processes and start enjoying instant reconciliation – Ramp does all the heavy lifting.
Learn more
Trim wasteful spend.
Ramp analyses every transaction and identifies hundreds of actionable ways your company can cut expenses and alerts your team via email, SMS, or Slack. It’s like having a second finance team, laser-focused on cutting costs.
Learn more
Consolidate reimbursements.
Ramp makes it easy to reimburse your employees for any incidental out-of-pocket expenses. Review, approve, and pay employees back for anything that didn’t make it onto a card with the rest of your Ramp transactions.
Learn more