Top SaaS Vendors on Ramp (July 2026)
Dear Colleagues: today’s letter is part of a series — Top SaaS Vendors. Every month, Ramp processes billions of dollars in business expenses on its corporate card and bill pay platform. And every month, I will rank the new vendors that customers are purchasing from while sharing emerging market trends and my thoughts on the software industry.
Two software trends from Ramp data this month:
1. AI support bots are one of the clearest enterprise AI use cases showing up in payments data.
PolyAI is #1 on the trending list, and Sierra is #4. Outside of coding agents, AI support bots are likely the most commercially-advanced use-case for AI. It’s also easier for CFOs to measure ROI. Measuring the outcomes of AI on software engineering is currently limited to PR counts, lines of code, and the percent of engineers using AI tools. These outcomes are directionally helpful, but they say nothing about the quality of code being written.
I think often about this chart from FT showing a rise in AI-written app releases without a corresponding sign of user traction. These AI productivity metrics show output, but not necessarily value.
AI support chatbots do not have that measurement problem. Firms can directly measure the ROI using the share of customer service inquiries addressed without human-touch. Or the average time to close a ticket. These metrics align to the actual value delivered to the end customer. A welcome change for consumers who question how AI will actually benefit them. If it’s implemented well, you won’t even know you were talking to an AI.
2. More and more usage of open source and Chinese models.
DeepSeek, Fireworks AI, Baseten, Together AI, and OpenRouter all appear across the lists. Anthropic, however, remains the market-leader and the fastest-growing. Last week, I wrote about trends in enterprise adoption of open source and Chinese models. While small, they are gaining traction.
The rise of these Chinese models is indicative of the fact that businesses want something that is today not being offered by the American model companies. The only reason I'm bearish about the Chinese models is because I assume that the American model companies will respond competitively. My thoughts on NPR today.
Our Top SaaS Vendors series is built using data from Ramp Rate, a data-backed vendor directory we launched earlier this year. Track market share, business adoption, and growth trends across categories using Ramp’s proprietary data built with actual transactions across 70,000-plus businesses on Ramp's spend platform.
Here’s a breakdown of the top SaaS vendors last month:
See you next month.
For more analysis of Ramp spend data, follow me on X and LinkedIn, and check out Ramp Economics Lab.
