Ramp passes $600m in savings; chosen by Shopify as expense management provider
By Delisha Fernandes
Ramp, a finance automation platform, has announced it helped 15,000+ customers save over $600 million and has been chosen by Shopify, an e-commerce enablement company as its exclusive expense management provider.
The finance automation platform has helped many customers, from fast-growing Tech startups to family-owned businesses, to build more efficient, sustainable, and durable industries.
“We believe businesses deserve more from their financial services software and are committed to saving them time and money,” said Eric Glyman, CEO, of Ramp. “Customers want procurement cycles to be more efficient, with a centralized view of the process, from purchase requests to vendor management and payment. We provide control with speed – which is embedded in everything we do to save businesses their time and shareholders’ capital.”
Ramp’s entry into procurement allows finance teams to manage the procure-to-pay process, from requests and approvals to purchase orders and payments. It gives finance teams the tighter purchasing controls needed to get more spending under management and prevent out-of-policy spending before it happens while providing employees and cross-functional approvers with an intuitive purchasing and approval experience.
“Our needs are incredibly complex; we weren’t sure anyone could meet them and tried to build a platform ourselves. But then we found Ramp and saw a system with the features we needed to operate and the building blocks we needed in the future,” said Phil Whitham, Director and International Controller, Shopify. “We have been in a state of hypergrowth for 10 years, so we know when a partner is committed to supporting that kind of scale. Ramp has shown the commitment we need from a long-term partner.”
Businesses on Ramp will have total visibility into spend requests, can price benchmark software purchases before they buy, negotiate with one click, pay their vendors, and finance all payment methods.
IBSi Daily News Analysis
October 03, 2023
B2C Financial Services
Digital Identity Verification checks will surpass 70bn by 2024, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage