How WayUp put expense reports on auto-pilot by switching to Ramp
WayUp is a job search platform that enables early career candidates to discover and be discovered by employers. The company helps match talented students and recent graduates with their dream jobs.
With thousands of candidates and companies to serve, WayUp needs to ensure its internal processes and operations are as efficient and expedient as possible.
A broken expense reporting process
WayUp’s fragmented, highly manual expense reporting process was broken. Company leaders, including co-founder JJ Fliegelman, had little visibility or control over employee spend. Each month, the finance team chased down employees anew in order to manually collect and reconcile receipts. Even after spending hours manually reviewing each expense, Staff Accountant Jose Ramon-Batista could not guarantee the accuracy of the company’s finances.
“Employees wouldn’t submit their expense reports until two months later, That wasn’t great for the accuracy of our financial reporting.”
- Jose Ramon-Batista, Staff Accountant at WayUp
Lack of oversight and automation yielded a process that was time-consuming, inefficient, and inaccurate. JJ and his team knew they needed to do things differently.
Automation saves time and improves accuracy
Ramp’s intelligent spend management platform revolutionized WayUp’s outdated expense reporting system. With Ramp, which WayUp rolled out in under a day, WayUp gained valuable real-time visibility into employee spend. Ramp’s automated expense reconciliation expedited the review and accounting process while ensuring accuracy.
“What I like about Ramp compared to any other solution is the fact that we can automate manual workflows for every employee. We can create rules for vendors and specific categories that automate spend management. The more we can automate, the better, and that’s the power of Ramp.”
- JJ Fliegelman, Co-Founder at WayUp
More efficient and accurate spend management
By implementing Ramp, WayUp reclaimed hours of lost employee productivity each month and allowed the finance team to regain control over employee spend. “I love how much control and freedom Ramp gives us,” said Jose, whose team no longer needs to track down each employee expense each month. “I used to spend more than six hours per month reviewing expense reports. After setting up Ramp, it takes me less than an hour.”
In addition to efficiency gains, Ramp has helped instill a culture of financial responsibility at WayUp. “Ramp helps keep things clean within the organization,” said JJ. Armed with automated rules and real-time visibility, JJ and his team can feel confident that employees will use their corporate cards properly.
With Ramp, WayUp executives can see how their teams are pacing against budgets in real-time, so they can make tweaks and improvements that protect the company—and encourage growth.
Are you ready to revolutionize your finance team’s processes? Learn more about Ramp today.