Ramp
Ramp promises to control spend, issue cards, and automate finance tasks, but does it deliver? See if it’s the best choice for your company.
Ramp Review | It Promised to Simplify My Finances, But Did It?
Tired of the tangled mess of receipts, endless expense reports, and the constant fear of budget overruns? Meet Ramp, the finance platform that's making corporate spending feel less like a chore and more like a superpower. It's a complete financial operating system that brings corporate cards, spend management, bill payments, and accounting automation all under one roof.
Ramp has been making waves in the fintech world, recently grabbing headlines for two major reasons. First, its massive growth and investor confidence are undeniable, with its funding round that catapulted its valuation to an impressive $22.5 billion.
Second, the Ramp company is on the front lines of the AI revolution. The company is actively introducing "autonomous AI agents" designed to take on the mind-numbing tasks that bog down finance teams.
Beyond the buzz, Ramp's real strength lies in its ability to give you control. It's a platform built to save you time and money, giving your business the financial clarity and control it deserves. But is it capable of delivering all that it promises? Here’s what we found out during our experiment!
Pros and Cons of Ramp
Pros
- All-in-one platform for corporate cards, bill payments, and expense management
- Uses AI to automate tasks like receipt matching and expense coding
- Allows proactive spend control by setting limits and restrictions
- Claims to save an average of 5% on business spending
- Offers high credit limits compared to traditional cards
- Provides a high-yield treasury account for operating cash
- Seamlessly integrates with major accounting software
Cons
- Primarily serves businesses in the United States
- Requires effort to implement and migrate to a new system
- It may be more robust and complex than what a small business needs
Standout Features of Ramp
Ramp Finance is a modern platform designed to automate and simplify business spending. It offers an all-in-one solution that integrates corporate cards, expense management, and accounting tools to provide real-time visibility and control over a company's finances. Here is a breakdown of its key features.
1. Expense Management
Ramp automates the entire expense reporting process, moving beyond simple data entry. It uses AI to automatically match receipts to transactions, a process known as OCR (Optical Character Recognition) for receipts. The system categorizes expenses, enforces company spending policies, and routes approvals to the right person, eliminating manual work for both employees and finance teams. This gives you a clear audit trail and real-time oversight of where money is being spent.
2. Intelligence
Ramp Intelligence is an AI-powered engine that helps businesses save money and time. The platform uses machine learning to analyze spending patterns and suggest cost-saving opportunities, such as identifying duplicate software subscriptions or unused licenses. It also offers "autonomous AI agents" that can review expenses, enforce policies, and flag potential fraud with high accuracy, allowing finance teams to focus on strategic tasks rather than tactical reviews.
3. Accounting Automation
Ramp streamlines accounting processes by automating manual data entry and reconciliation. It connects directly with your accounting software, such as QuickBooks, NetSuite, and Xero, and automatically syncs all financial data. The platform can auto-code transactions based on vendor and card rules, ensuring that your books are always up-to-date and ready for month-end closing, drastically reducing errors and saving hours of work.
4. Flexibility
The Ramp company offers highly customizable solutions for a business's specific needs. You can create custom spending policies and approval workflows that match your company's hierarchy. The platform allows for detailed controls on a per-card, per-employee, or per-department basis, letting you set specific limits and rules. This flexibility extends to its integrations and payment options, allowing companies to adapt the platform to their unique operational requirements.
5. Integrations
Ramp is designed to fit into a company's existing tech stack. It offers over 200 integrations with a wide range of platforms, including accounting software (NetSuite, QuickBooks, Xero), HR tools, and productivity apps. This connectivity ensures that data flows seamlessly across your business systems, eliminating silos and providing a unified view of your operations from a single dashboard.
6. Operates Globally
Ramp's platform has expanded its capabilities to support global operations. It allows businesses to issue cards and manage expenses in over 190 countries and 30+ local currencies, including Euros and Canadian dollars. Businesses can pay vendors and reimburse employees globally, with features like free international wires and unified spend tracking across different currencies. This enables multinational companies to consolidate their financial management on a single platform.
Understanding the Different Products Offered by Ramp
Ramp is more than just a corporate credit card; it's a comprehensive platform built to unify a company's financial operations. The table below provides a quick overview of the key products that make up the Ramp ecosystem and their primary functions.
| Product Name | Explanation |
|---|---|
| Corporate Cards | Control company spending proactively by setting limits and restrictions on cards before purchases are made. |
| Accounts Payable | Automate and streamline the process of managing and paying vendor invoices and bills. |
| Travel | Manage and track travel and entertainment (T&E) expenses, ensuring compliance with company policies. |
| Expense Management | Eliminate manual expense reports by automating receipt matching, categorization, and approval workflows. |
| Procurement | Speed up the entire purchasing process, from initial requests and approvals to vendor payments. |
| Treasury | Manage and grow operating cash by earning competitive returns on funds. |
Ramp Solutions for Different Businesses
Ramp’s finance platform offers multiple solutions tailored to your business requirements. Here’s a comprehensive list of these solutions-
1. Solutions By Size
| Solution | Explanation |
|---|---|
| Startups | Provides an all-in-one platform with essential tools like corporate cards and automated expense management, allowing new companies to focus on growth without being bogged down by complex financial processes. |
| Small Business | Consolidates core financial functions like travel, expenses, and accounts payable into a single platform, helping small teams save time and maintain a clear view of their finances. |
| Mid-market | Focuses on automation and efficiency by streamlining tasks like expense reporting and accounts payable, which frees up finance teams and makes workflows smoother for employees. |
| Enterprise | A robust platform built for global scale and operational complexity, offering advanced automation and control features to manage finances across multiple departments, subsidiaries, and regions. |
2. Solutions By Industry
| Solution | Explanation |
|---|---|
| Technology | Offers fast, flexible spending controls and instant virtual cards, which are essential for managing software subscriptions and digital ad campaigns in a fast-paced environment. |
| Construction | Helps manage project-based expenses and procurement, allowing companies to track spending against specific jobs and streamline payments to suppliers. |
| Life Sciences & Healthcare | Supports the need for strict compliance and detailed tracking by providing robust audit trails and automated expense management for grant and project-based spending. |
| Education | Assists with managing decentralized budgets and procurement across various departments and campuses, simplifying budget tracking and ensuring proper authorization for all spending. |
| Retail | Allows retail businesses to manage spending across multiple locations, providing controls and tracking for expenses related to inventory, supplies, and store operations. |
3. Solutions By Partner
| Solution | Explanation |
|---|---|
| Accounting Firms | Provides firms with a platform to manage their clients' finances more efficiently through automated bookkeeping and real-time data access, allowing them to offer better service. |
| Private Equity & Venture Capital | Helps investment firms manage their own operational spending while also providing their portfolio companies with a powerful financial tool to help them scale faster and gain better control. |
| Services Providers | Enables consulting firms and other service providers to leverage Ramp’s platform to streamline their own operations or offer it as a value-added service to their clients. |
| Affiliates & Technology Partners | Allows other companies to integrate their technology with Ramp or earn commissions by referring clients, expanding the platform's ecosystem and versatility. |
Understanding Ramp Pricing and Subscription Plans
Ramp Finance offers three different pricing options for your business to choose from. Here’s a detailed look at these pricing plans-
| Plan | Price | Key Features |
|---|---|---|
| Free | $0/mo/user | Corporate cards with unlimited cards, basic travel and expense management, basic accounts payable with invoice extraction, and integrations with QuickBooks Online and Xero. |
| Plus | $15/mo/user + platform fee | All Free features, plus auto-locking cards, advanced approval workflows, batch payments, procurement tools, multi-entity support, and integrations with NetSuite and Sage Intacct. |
| Enterprise | Custom pricing | All Plus features, plus direct and custom ERP integrations, user role customization, and custom development services. |
For us, Product Reviews mean diving headfirst into the functionality of each digital product, whether it’s an app, software, or website. Our process centers around hands-on testing of each tool we pick. From scrutinizing features to testing vulnerabilities of security standards, the goal remains to help you find products that don’t just work but truly elevate your experience. In a nutshell, if we’re recommending a product, it’s because we believe it’ll genuinely make your digital life easier.
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Customer Reviews
How was your experience with the product?
To give you a more holistic review of this platform, we have collected user reviews from TrustPilot. These Ramp credit card reviews and feedback related to other services will give you an overview of what the other users are saying about this platform.
“ When I bill one of my clients that uses… When I bill one of my clients that uses ramp using my quickbooks I always get a
“ Time Saving!! Ramp has been absolutely phenomenal for me and my organization. It saves so much time and effort when completing financial reports. The upload to
“ Small Business game Changer Ramp has been a game changer for our small business. We have 7 locations remotely. I am now able to do a
MobileAppDaily’s Ratings for Ramp
FEATURE
Offers a comprehensive, all-in-one platform with robust tools for automated expense management and AI-powered insights.
PRICING
The platform includes a free plan with a transparent per-user cost for the Plus plan, making it accessible for various business sizes.
PERFORMANCE
The interface is praised for being simple, but some users have reported specific technical issues, such as problems with invoice processing.
USER FEEDBACK
User reviews are generally positive, highlighting the platform's ease of use, though there is some mixed feedback on specific functionalities.
MobileAppDaily’s Final Verdict on Ramp
This Ramp expense management review included hands-on experimentation with our team. This reveals a financial operating system that largely lives up to its ambitious claims. This platform stands out as a truly all-in-one solution, seamlessly integrating corporate cards, expense management, accounts payable, and even treasury functions.
The Ramp website’s commitment to AI-powered automation is a significant differentiator; our team observed firsthand how it streamlines tedious tasks like receipt matching and expense coding, genuinely freeing up valuable time.
The proactive spend control features are particularly impactful, allowing businesses to set granular limits and prevent out-of-policy spending before it occurs. Furthermore, its extensive integrations and growing global capabilities make it a highly adaptable tool for diverse business needs.
However, our review also highlighted a few considerations. While Ramp's interface is intuitive and generally performs well, some Ramp software reviews point to occasional technical hiccups, particularly with specific invoice processing scenarios.
Its primary focus on the U.S. market, while expanding, means international businesses might still encounter some limitations. Additionally, for very small businesses, the comprehensive nature of the platform, while a strength, could feel more robust than initially necessary, requiring a dedicated effort for full implementation.
In conclusion, Ramp is a powerful, forward-thinking platform that genuinely simplifies financial operations. It delivers on its promise to provide clarity and control, leveraging AI to automate significant portions of financial management.
While there's always room for refinement in performance and global reach, Ramp is undoubtedly a great tool for businesses seeking to modernize and optimize their spending. It's a strong recommendation for companies ready to embrace the future of autonomous finance.
Ramp
Frequently Asked Questions
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What is Ramp, and how does it simplify business finances?
Ramp is an all-in-one financial operating system that combines corporate cards, expense management, accounts payable, and accounting automation. It simplifies finances by providing real-time spend control, automating tedious tasks like receipt matching, and integrating seamlessly with existing accounting software, ultimately saving businesses time and money.
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What are the main benefits of using Ramp for a business?
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Is Ramp suitable for small businesses, or is it only for large enterprises?
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Can Ramp be used by businesses operating outside the United States?
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