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What expense category does New Relic fall under?

Audrey Carroll

Senior Manager, Accounting, Ramp

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Answer

New Relic is categorized under the 'Software' expense category, specifically in the 'Application Performance Monitoring and Management Software' subcategory.

Role of the Expense in Business

New Relic offers application performance monitoring solutions, widely used by businesses and IT teams for real-time monitoring and optimization of software applications.

Practical Example

A tech company using New Relic for monitoring and optimizing the performance of its web applications would categorize these expenses under 'Application Performance Monitoring and Management Software'.

Specialized Expense

For smaller projects or businesses using New Relic for basic performance monitoring, it might be categorized under 'General IT Management Tools'.

Conclusion

New Relic's specialization in application performance monitoring and management places it within the 'Software' expense category, particularly for monitoring and optimizing software applications.

The information provided in this article does not constitute legal or financial advice and is for general informational purposes only. Please check with an attorney or financial advisor to obtain advice with respect to the content of this article.

“Accurate classification of expenses is vital for businesses as it forms the backbone of financial reporting, tax compliance, and strategic decision-making. It enables businesses to track and analyze their spending patterns, identify cost-saving opportunities, and assess the profitability of various operations or projects. Having a single source to turn to for accounting classification suggestions, such as the Ramp Expense Classifier tool, is immensely helpful as it provides consistency, reduces ambiguity, and streamlines the expense classification process.”

Audrey Carroll

Senior Manager, Accounting, Ramp

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New York, NY 10010

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1. We calculate average savings as a percentage of an illustrative customer's total card spending when using Ramp features designed to reduce business expenses. Keep in mind that this percentage is an estimate, not a guarantee. Ramp delivers savings from more than just card spending; savings can also come from non-card expenses so we may factor decreases to non-card spending into our calculation. For example, savings may result from reduced time spent on manual expense tracking, the financial benefit of cash back or other rewards, smarter expense monitoring, and eliminating costs associated with alternative solutions. Our calculations are based on platform data, industry research, customer surveys, and info on alternative options. Your actual savings may vary.

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