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Inefficient procurement processes have long hampered finance teams, and legacy software hasn’t helped. Between outdated user interfaces and complicated workflows, the experience of running most procurement software is often little better than working off a spreadsheet. In fact, 33% of Finance and Procurement leaders state incomplete procurement technology as a top challenge to overcome. 

There’s a better way to intake-to-pay. And it doesn’t require expensive contracts or long, drawn-out implementations.

Since Ramp Procurement launched in January, dozens of enhancements have shipped to radically expand its suite of capabilities. Already, Ramp customers have experienced an average of 8.5x faster purchasing cycles and caught $50+ million in overbilling errors, strengthening our dedication to saving customers both time and money.

“Honestly, we went from weeks of waiting to get approval for most things to about 48 hours. From a timeliness standpoint, clinics can actually get what they need sooner because their managers are approving their requests on time.”

— Kaela Patrinely, CFO, Skin Pharm

We’re incredibly excited to announce four core upgrades to our Procurement platform, available today, that provide significantly more benefits to our customers at every stage of the intake-to-pay process. Read below for details.

Intake faster with Ramp AI 

Submitting procurement requests shouldn’t be a difficult task, yet employees spend hours simply filling out the details. 

To accelerate this process, it’s now possible to automate intake using Ramp AI. Employees just need to drop in a vendor quote, contract, or a shopping cart screenshot directly into Ramp’s intake form. Our AI will scan the documents, identify what information can be prefilled in the intake form, and generate a procurement request—all on behalf of the employee. 

“Ramp’s OCR has been so useful on the procurement side. It automatically takes all the information from the quote and saves all the data entry that we would have otherwise had to type into a purchase order. It's just a few minutes saved on each PO, but that time adds up with dozens of POs each week."

— Brian Lautenbach, Financial Controller, Precision Neuroscience 

Ramp AI has already populated thousands of customer requests and saved significant time associated with manually keying-in request details. 

Learn more about submitting procurement requests

Automate three-way match

Three-way matching is the gold standard of payment controls—and for good reason. By comparing line items from invoices, purchase orders, and item receipts, three-way match ensures total accuracy of your records—all before a payment is ever made. 

Ramp now offers its own intuitive three-way match experience, providing you the ultimate AP control mechanism so you only pay for the exact quantity of goods ordered at the agreed-upon price. Our platform links your records, immediately alerts you of variances, and surfaces details needed to drill down and investigate any mismatch. 

And the best part? It’s completely automated, so your AP team can process invoices faster with fewer time-consuming discrepancies. 

Learn more about three-way matching or watch a demo.

Receive in Ramp or NetSuite

Keeping tabs on every shipment can quickly get overwhelming, especially when you want to reconcile the items received against your purchasing documents. Now, you can easily generate item receipts against your purchase orders to get full visibility into quantities received and what still needs to be delivered.

If your team prefers to receive in NetSuite, you can easily import item receipts, perform a three-way match in Ramp, and take advantage of our advanced accounts payable features.

Tip: To receive faster, open a purchase order and simply press “R” to immediately generate an item receipt linked to your purchase order. We’ve made it that easy.

Learn more about receiving in Ramp or NetSuite

Protect your business from being overbilled 

68% of businesses discover errors in their AP, and the most common mistake is a mismatch between purchase orders and invoices (IOFM). Invoice errors aren’t just costly; finance teams also lose time manually reconciling each invoice line item, especially businesses that purchase a lot of goods and inventory.

Ramp now automatically audits your invoices and flags if a line item exceeds the unit cost or quantity specified in the matching purchase order. For businesses that need even more oversight, it’s also possible to set tolerance thresholds to completely block payments until mismatches are resolved. 

By automating the invoice audit process, you have peace-of-mind that you’re not overspending without the need for time-consuming manual work.

Learn more about overbilling protection

Expect more procurement transformation

Hundreds of businesses have already onboarded onto our procurement platform and come from an array of industries, like SaaS, Defense, Aerospace, Construction, Agriculture, BioTech, and Consumer Products. 

By doubling down on procurement, our customers unlock exponential speed, eliminate supplier payment risks, and tighten controls at every step of the procurement cycle. This is just the beginning and we’re incredibly excited to expand the platform at start-up speed. 

Ramp Procurement is available for customers on the Plus plan. Log in here to start using the latest features or head over to our Help Center and Product page for more information. 

Not yet on Ramp? Sign up for free today and see how we can help you modernize your finance function.

Try Ramp for free
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Head 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.
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.

FAQs

How Precision Neuroscience streamlined systems and slashed data entry with Ramp

"Ramp’s OCR has been so useful on the procurement side. It automatically takes all the information from the quote and saves all the data entry that we would have otherwise had to type into a purchase order.”
Brian Lautenbach, Financial Controller, Precision Neuroscience

How Liquid Measurement Systems reduced fraud, improved UX, and drove efficiency with Ramp

“Because people can do their own receipts so easily and code in real-time, our accountant has minimal work to do at the end of the month."
Sarah Paxman-Bean, Director of Finance & IT, Liquid Measurement Systems

How Pair Eyewear consolidated systems, enhanced efficiency, and refocused resources with Ramp

“We love NetSuite and Ramp together. It’s like they’re long lost cousins and they’ve come back together. It’s like they were built for each other.”
Staci Robinson, AP Manager, Pair Eyewear

How Skin Pharm streamlined approvals, improved procurement workflow, and leveled up its team with Ramp

"I'm able to get the most out of my team with Ramp, Anna just got promoted from analyst to manager because she doesn't need to spend her time doing these manual processes anymore, she can focus on more strategic work."
Kaela Patrinely, VP of Finance, Skin Pharm

How Ramp helped Quora’s finance team streamline operations, simplify AP, and stay lean

“With Ramp's automation, I actually have the time to think about how to improve things, how to make things more efficient, how to make things better for employees."
Richard Gobea, Finance Manager, Quora

How Ramp helped Apprentice.io modernize accounting with automation

“I saw a quote about how the cost of inaction now outweighs the cost of modernizing finance. If you don’t modernize now, what will it cost you in the future? ”
Oscar Lobo, Controller, Apprentice.io

How Ramp helped Zola do more with less

“We’re trying to get into a good rhythm of closing the books within 10-12 days, and Ramp has been a huge, huge lifesaver and time saver for us.”
Joe Horn, VP Controller, Zola