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How Roof Squad ensured timely bill payment while maximizing value with Ramp Treasury — “The single greatest product I’ve ever seen in the financial market.”
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Transferring cash from one account to another wasn’t just a complex manual process — it was also a slow one. Under the status quo, Alejandro needed to closely manage his payments calendar to make sure he could remit payment with enough time to fix any issues.
All of these frustrations and complexities resulted in hours spent each week managing the company’s cash and payments — and caused considerable anxiety that vendors wouldn’t get paid on time. “There were so many roadblocks, so many ways this would go wrong,” says Alejandro.
Roof Squad’s traditional bank account wasn’t equipped to help the company maximize the value of its cash and meet their business obligations with ease.
Roof Squad needed a better cash management solution. As a small company, though, they didn’t think it was possible to relieve all of their pain points.
“Most small companies don’t even have the opportunity to think about cash management,” says Alejandro. “They just don’t have the structure.”
Ramp Treasury changed all of that. Roof Squad, which already loved Ramp for its expense management and bill pay functionality, created a Ramp Business Account1 to maximize the value of its cash and easily pay vendors on time.
Roof Squad started earning2 with the first dollar deposited in the Ramp Business Account1 – on fully liquid operating cash. They also got access to unlimited free same-day ACH for Ramp Bill Pay and instant payments to their Ramp Card statement, so Alejandro can ensure he pays bills on-time while keeping his cash earning for longer.
“The way bill pay works now is super easy,” Alejandro says. His team inputs work orders in their CRM, which then creates a PDF that automatically routes to Ramp. Once in Ramp, all bills are automatically populated and job-costed. “That was such a tedious process before,” says Alejandro. “Now it’s just a couple clicks away, saving us about 10 hours a week, and reducing the number of errors we make.”
"Ramp Treasury is the single greatest product I’ve ever seen in the financial market,” says Alejandro. “It gives you things that most companies of our size wouldn’t get.”
“When I was renewing my line of credit with our legacy bank, I had to come clean and show them Ramp. I showed them I’m growing my cash faster, there are no minimums, and I’ve got all this other time saving functionality.”
Alejandro loves how well Ramp integrates with the rest of his finance and accounting ecosystem. “It allows me to pay my bills same-day, pay my card instantly, and have immediate access to everything,” he says. Ramp’s integration with QuickBooks makes reconciliation “a breeze.”
Consolidating everything into one central platform has yielded significant time-savings and improved efficiency for Alejandro and his team. “Having everything centralized and reducing the amount of time money is locked out in transition from place to place is huge,” says Alejandro. “All told, Ramp has saved Roof Squad an upwards of 50 hours a week across expense management, AP, and treasury.”
Funny enough, Alejandro was initially hesitant to start using Ramp Treasury. “It’s not that I didn’t trust Ramp, but more like, why would I bother with another account?” he says.
“Things were working, more or less, and every single tech implementation I’ve ever had is gruesome. I’m so glad I gave it a try though! I had it up and running the day I opened the account,” says Alejandro. “It really is everything it was promised to be.”
1. Ramp Business Corporation is a financial technology company and is not a bank. Bank deposit services provided by First Internet Bank of Indiana, Member FDIC.
2. Cash rewards are paid by Ramp Business Corporation and not by First Internet Bank of Indiana, Member FDIC. Cash rewards are subject to change. See the Business Account Addendum for more information.
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