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Industry benchmarks for your 2024 planning
Get fresh insights into how peer companies in top industries are allocating budgets—especially T&E as travel costs rise. See the latest limits finance teams are using for their travel policies.
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Summary
What you'll learn
Find spending averages down to the vendor level for tech, consulting & professional services, financial services, and healthcare companies. Get benchmarks cut by company size, based on over $10 billion per year in corporate credit card and AP payments.
Key findings
01
Mass-use generative AI tools no longer dominate our list of fastest-growing software vendors, as more providers build AI capabilities into their offerings. This suggests it's time for companies to press the “pause” button on using generic AI tools.
02
Companies are buying fewer tools relative to the past. Those hitting a year on Ramp in Q3 have an average of 16 software vendors, down from 21 a year ago. Companies should look for vendors with a broad suite of capabilities and integrations to reduce overhead.
03
Business travel pricing is shifting rapidly. Ramp data show airfare inflation has improved the most with legacy carriers like United Airlines. Review the travel vendors you work with to see if they’re still the most cost-efficient.
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