Ramp

What is Ramp?

Ramp is a fintech company offering AI-powered tools that help businesses track expenses, manage payments, and maintain oversight of spending. Its AI analyzes contracts, compares prices, and monitors employee spending in real time.

Founded by Eric Glyman, Ramp reports annual revenue exceeding $300 million, a valuation of $5.8 billion, and more than $400 million in cumulative customer savings. The product centers on a corporate card plus procurement software, and the company has grown through acquisitions and partnerships, including with Microsoft. Ramp emphasizes relationships with customers and accounting firms to deliver secure, personalized financial services.

What is Ramp used for?

• Expense Management: Consolidates corporate cards, expense tracking, and bill payments in one platform.
• Travel: Lets business travelers book trips with built-in controls for managing travel expenses.
• Payments: Free payments software positioned as an alternative to Bill.com.
• Vendor and Contract Tracking: Tracks vendors and contracts, automatically extracting details to analyze pricing and software seat usage.
• Automated Bookkeeping: Generates required fields, categories, and memos for expense submissions, auto-codes receipts, and categorizes transactions to speed up month-end closing.
• Real-Time Spending Oversight: Detects unusual employee spending and flags expenses that violate company policy.
• Price Intelligence: Provides crowd-sourced software pricing comparisons, transaction data, and recommendations to support negotiations and cut costs.
• Savings Opportunities: Includes cashback cards and software designed to identify savings.
• AI Assistant: Answers questions, builds approval workflows, and suggests cost-saving methods.

Summary

Ramp combines corporate cards, expense management, bill payment, travel booking, and procurement into one platform, using AI and automation to reduce manual work and help businesses spend less.