January 31, 2022

Ramp Rewind: Vendor negotiations, travel enrichment, single-use vendor cards, and more

Editor’s note: We publish quarterly Ramp Rewind posts to get you up to speed on the latest product features and updates.

It’s a new year! But even with the changing tides our mission has remained the same: to save you money and time with a fully integrated and automated finance stack.

To that end, we’ve recently launched a slew of product features and iterations that allow you to have greater control over your spending, travel and vendor contracts.

Automated vendor contract negotiations with Buyer

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The vendor contract negotiation process can be a huge time commitment. That said, ensuring that you have the best contractual terms is a process that has merit and can save you money in the short and long term.

To help ensure that you’re saving money and time, our Buyer team takes the negotiation process and automates it for you. All you have to do is upload your vendor contract and they’ll handle the rest.

Deeper insights into travel planning and spend

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With business travel slowly creeping back up, it’s more important than ever to have the ability to stay organized and level-headed about logistics and planning. That’s why we launched Travel Enrichment, a travel itinerary consolidation tool that gives you a high-level overview of flight, hotel, car rental details and more all in one dashboard.

Travel Enrichment gives admins and managers even more visibility into travel spend and paints a picture of what employees are spending on and where. It’s T&E tracking made simple and automated.

Streamline spending with single-use vendor cards

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We get it, sometimes you just don’t want to use a recurring limit Ramp card for a one-off expense. Every so often, you just need a simple way to pay for vendors, SaaS or IT without the headache. Now, with Ramp, you can create one-time, single-use virtual cards to pay for vendors or tools—all while saving an average of 5%.

And since we’re all about security, whenever a single-use card is created, it’ll be restricted to that vendor. Quick, easy and secure.

Post-transaction reviews for ultimate spend control and insight

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At Ramp, we’re all about making sure businesses have the level of control and security that they need. Now that we’ve rolled out post-transaction review, managers can quickly review transactions at the expense policy level and approve them or easily flag them as out of policy.

This ensures that you stay on top of employee spending and that everything is within approved policy. Plus, it ensures SOX compliance.

Check account balance via SMS

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When you’re off spending on your Ramp card, the last thing you want to worry about is your card balance. But sometimes, you need that little reminder to keep you on track and give you peace of mind. Now, we’ve rolled out the ability to text the last four digits of your Ramp card to HIRAMP to instantly get your card balance. No need to open your browser and log into your account.

Onboarding made simple with video guides

We pride ourselves in having created a product that’s driven by automation without sacrificing a seamless user experience. But sometimes, you need a little bit more time and help to get the hang of things, even if you’re a seasoned Ramp user.

To help, we created a set of video guides that walks you through the Ramp onboarding process. In these guides, you’ll be able to find tutorials that talk you through functions and features such as setting up Bill Pay, inviting employees and setting merchant restrictions. Our guides can be your source of truth for any onboarding related questions, at your convenience and at your own pace.

Check them out here:

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TK KongHead of Ramp Procurement, Ramp
TK is the Head of Ramp Procurement. He previously co-founded Venue, a procurement startup backed by Sequoia Capital and later acquired by Ramp in 2023. Prior to founding Venue, he was employee #20 and the product lead for spend management at Ramp. He graduated from Cornell with a BS in Information Science, Systems and Technology.
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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

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

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

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

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

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

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

the second city