Case study

How Squared Away uses Ramp to find savings automatically

Squared Away is a team of remote Chief Executive Assistants, powered mainly by highly-educated military spouses. The company supports a wide range of clients, from venture capital funds and startup CEOs to individual consultants and small business owners. Squared Away assistants handle much more than the typical virtual assistant and serve more as a Chief of Staff for an executive or organization. A fully remote company, Squared Away operates 24/7, with 200 employees located in multiple time zones around the world.

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The problem

An inefficient spend management system built on a personal card

Since launching in 2017, Squared Away had paid for all corporate expenses with Founder and CEO Michelle Penczak’s personal credit card. “We had never done all the research we needed to on corporate cards,” explains Michelle. “We started putting everything on [my personal card] because it was easy.”

What began as a temporary quick fix solution became a persistent headache. Because the company’s finances were personally tied to her, Michelle couldn’t easily delegate expense management. Each month, she spent countless hours managing expenses manually and working with her accountants to reconcile expenditure and chase up discrepancies. The system wasn’t working—Michelle was wasting her own time, and the entire company suffered from a lack of transparent spend oversight.  

The solution

A centralized platform to streamline processes and drive efficiency

In early 2021, Squared Away shifted from managing expenses on Michelle’s personal card to deploying Ramp’s expense management platform across the company. “Within a week, I was wondering how I lived without Ramp for my entire three and a half years as a CEO,” says Michelle.

Now, rather than share a single credit card, every member of Michelle’s core team is empowered to spend via the Ramp platform. Michelle can much more easily delegate expense management, and Ramp’s automated controls allow her to set limits, terms, and expiration dates to keep spending in check. When a team member needs a rate increase, adjusting the limit is as simple as clicking a few buttons.

“Setting limits has been very helpful, especially as we’ve moved our entire company over from independent contractors to W2s [employees],” says Michelle. “Having different entities in different states with card limits and expirations has been very helpful.”

Ramp has allowed Squared Away to easily shift from one shared card to multiple virtual cards across the entire team. “Nobody on the team has a physical card,” says Michelle. “The security is incredible, because you don’t have to worry about a team member losing a card and the headaches that come along with that.”

Ramp has made end-of-month accounting much easier, too. “Sending receipts is incredibly easy, and Ramp will even send reminders when something needs a receipt,” says Michelle. “It’s made my life 10,000 times easier, and it’s made my core team’s lives 10,000 times easier.”

"Within a week, I was wondering how I lived without Ramp for my entire three and a half years as a CEO"

- Michelle Penczak, CEO, Squared Away

The result

Material savings of time and money

Ramp’s ease of use and automated features have regained hours of lost time for Michelle and her team. “We’re huge on giving our clients their time back, so we’re absolutely going to advocate for any service that does that for us,” says Michelle. She estimates that Ramp has returned at least 50 hours per month to the team, as they no longer need to navigate multiple finance- and credit card-related issues.

Though Ramp has certainly made Michelle and her team more efficient and has streamlined the company’s accounting process, its ability to find extra savings has been the most appealing benefit of the platform for Michelle. Michelle estimates Ramp has saved the company over $15k in savings.

“Ramp constantly sends me reminders to change certain plans in order to save money for the business,” says Michelle. “For example, I know that I need to go in and change our Asana plan, because I’ve gotten 15 reminders from Ramp that doing so can save us $1,000.” Michelle loves that Ramp’s user-friendly interface puts those reminders front and center, so she never needs to search for opportunities to save.

“It’s like [Ramp] is looking out for me,” says Michelle. “It’s constantly in my face about how I’m going to save money, and it’s constantly updating and searching for lower prices.” Proactively searching for savings opportunities was something Michelle and her team weren’t doing prior to using Ramp. “I didn’t have the time to search, and I didn’t delegate it to my team, because they honestly had bigger and better things [to do],” says Michelle. “This stuff was always hidden but needed to be done, and Ramp pulls out all the things I forget about that are super important for my company.”

"Ramp pulls out all the things I forget about that are super important for my company"

- Michelle Penczak, CEO, Squared Away

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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.
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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.
Advanced Cards
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.
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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.
Accounting Automation
Trim wasteful spend.
Ramp analyzes every transaction and finds hundreds of ways your company can cut expenses. It’s like having a second finance team, laser-focused on cutting costs.
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Consolidate reimbursements.
Ramp makes it easy to reimburse your employees for all their spend that's not on a card. Set up review & approval flows within Ramp, and see your reimbursements on your dashboard, alongside all your other transactions.
Learn more