Company Research Report: Ramp Business Corporation

Company Overview

Name: Ramp Business Corporation

Mission: Ramp is on a mission to help finance teams build healthier businesses by reimagining technology for back-office finance from the ground up.

Founded: 2019

Founders: Karim Atiyeh (CTO), Gene Lee (CPO), Eric Glyman (CEO)

Key People:

Eric Glyman, Co-Founder & CEO

Gene Lee, Co-Founder & CPO

Karim Atiyeh, Co-Founder & CTO

Julia Hartz, CEO and Co-Founder (Customer Endorsement)

Zak Kukoff, Former VP Finance

Headquarters: 28 West 23rd Street, Floor 2, New York, NY 10010

Number of Employees: Over 600

Revenue: No information is available

Known for: Fastest-growing corporate card and bill payment platform in America.

Products

Corporate Cards

Description: A modern corporate card providing intuitive financial control and management.

Key Features:

Unlimited virtual cards with preset rules.

Category and vendor controls.

Expense policy enforcement.

Travel booking options.

Automated receipt matching.

Expense Management

Description: Comprehensive expense management software automating manual tasks.

Key Features:

Auto-matching receipts to transactions.

Expense categorization and automatic submission.

AI-powered compliance checks.

Seamless integration with various tools.

Real-time visibility into expenses.

Bill Payments

Description: AI-powered accounts payable (AP) automation to eliminate manual effort.

Key Features:

Automated invoice extraction using AI.

Duplicate invoice identification.

Payment scheduling and vendor payment tracking.

Multi-currency payment options.

Syncing with accounting tools.

Procurement

Description: Streamlined procurement software enhancing efficiency in purchase order management.

Key Features:

Custom intake forms for procurement requests.

Automated approval workflows.

Centralized procurement discussions.

Purchase order generation and matching.

Real-time tracking of committed spend.

Vendor Management

Description: Automated tracking and management of vendor contracts and payments.

Key Features:

Consolidated vendor tracking.

Auto-collect and manage vendor info.

Contract renewal reminders.

Insights into software pricing.

Travel

Description: Comprehensive business travel management platform.

Key Features:

Customizable travel policies.

Real-time travel expense tracking.

Seamless expense matching.

Booking opportunities through any travel platform.

Integrated reporting tools.

Recent Developments

New Products Launched

Ramp Plus: Enhanced version of the platform offering more flexibility and integrations for larger enterprises.

Ramp Intelligence: AI-driven solutions delivering vendor price intelligence and automated accounting insights.

New Features Added

Expense Management Enhancements: Auto-matching receipts, AI-powered compliance checks, and multi-currency support.

Bill Payments Expansion: Introduction of same-day ACH payments, global vendor payments, and support for multi-currency billing.

Procurement Software Updates: Improved purchase order matching, dynamic approval workflows based on business conditions, and centralized procurement communication.

Travel Module: Custom travel policies, intuitive booking platform, and real-time travel expense tracking.

Partnerships

Integration with Zoho (August 19, 2024): To sync transactions, bill payments, and card statement payments automatically.

NetSuite & Sage Integrations (May 8, 2024): Enhancements supporting multi-entity and international transactions.

Ironclad Integration: Bi-directional sync for contract review approvals enhancing procurement workflows.

Impact and Customer Feedback

Customer Savings: Over $1 billion saved.

Hours Saved: Over 10 million hours for 25,000+ customers.

“Ramp has brought tangible value to our finance team, our global employee base, and to me personally. I am obsessed with Ramp.” — Julia Hartz, CEO and Co-Founder

“Before Ramp, it was a process from the Dark Ages. With Ramp, all that is automated, it’s a huge time saver.” — Gee Hoon Lim, Director of Finance

Miscellaneous:

Security & Compliance: Ramp adheres to SOC 2 Type II and PCI standards ensuring data encryption and secure transaction processing.

Global Operations: Supports payments in over 195 countries and 40 currencies.

Conclusion

Ramp Business Corporation is an innovative financial technology company dedicated to automating finance operations and enhancing business efficiency. With a broad range of products designed to simplify corporate cards, expense management, bill payments, procurement, vendor management, and travel, Ramp is a significant player in modernizing financial management for businesses globally.