What’s new in Ramp: June 2024

It seems hard to believe, but somehow we’re already halfway through 2024. It seems the only thing moving faster than the calendar is our product. 
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And we’re not slowing down. In fact, we just released our biggest update of the year. 
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Read on for a breakdown of all the great features we released in Q2, or watch our recent webinar.

Better business travel is here.

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For most companies, booking travel is painful and expensive. But it doesn’t have to be! With Ramp Travel, businesses can centralize 100% of their T&E spend on one intuitive platform. Build custom travel policies to prevent out-of-policy spend on everything from per-diems to hotel rates. Ramp will automatically collect and match receipts across all transactions and route to the right budget and category. 
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If your team is traveling for an offsite, you can even share a limit and let team members spend towards it, saving you from the labor-intensive monotony of approving the same expense over and over again.

“With the addition of Ramp Travel, we will have consolidated four platforms into one.” – Andrew Clarke, VP Finance, STUDS

See more info: 10 frequently asked questions about Ramp Travel. Interested in a feature you don’t see listed? Send your feedback and ideas at [email protected].

New automations to streamline your bills

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Our latest accounts payable features are designed to help you manage bills more easily. Reduce the time spent going back and forth between platforms, emails, receipts, etc. You can now automatically send vendors a secure, single-use card that locks and matches the transaction to your bill once paid, all while earning cashback on every bill payment. And we’ve added the ability to take actions in bulk—allowing you to edit dates, descriptions, accounting categories, and much more. 

Have any recurring bill payments that you manage? Whether for rent or utilities, set up automated and scheduled bills on a recurring cadence and choose an end time if needed. You can also see the status of your bills—existing recurring series, bills part of a series, and future bills in a series. 

“We used to have so many fraud issues. We were paying hundreds of bills monthly by check and it left our organization exposed. Ramp has completely solved the issue—it’s a cure-all.” – Michelle LaBonney, Director of Finance & Operations, Nevada Partnership for Homeless Youth

Make purchases seamless (and transparent).

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Looking to save time and cut costs? Set tolerance thresholds to auto-block bill creation if the matched invoice and PO line item exceed your preferred amount or percentage. Employees can drop in screenshots, order forms, or contracts into a procurement request form, and Ramp will scan and populate the request automatically. They can also code tracking categories for expense line items or select inventory from NetSuite and QuickBooks directly in the form.

"We had a procurement process before, but it was so manual. It used to take five emails to get the right approvals, then we had to manually create the PO and resend that over email. Now the requestor just puts it into Ramp and the approval workflow triggers right away." – Chad Nichols, Controller, Ultra Clean Express"

Close your books with more control and accuracy 

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Keeping accurate records of transactions shouldn’t be so challenging. That’s why we built new enhancements to simplify your month-end process. You can now choose to use either the clearing date or transaction date for reports in Ramp. If you use Sage Intacct and Xero, you can also adjust the bill accounting date to make reporting more precise.
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You can now choose to use either the clearing date or transaction date for reports in Ramp. If you use Sage Intacct and Xero, you can also adjust the bill accounting date to make reporting more precise.
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And for customers on the Ramp Plus plan—if your company has international subsidiaries using their own currency, you can choose what currency to use when syncing expenses. 

“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