Corporate Card Firm Ramp Offers Expense Management Tools

Ramp, a corporate card startup, has launched an expansion of its software business by allowing any customer to make use of its card-integrated expansion management software, a press release says.

That means a broadening of the company’s initial purpose as a simple cash-back corporate card provider.

The company aims to provide both expense software and cards, instead of having companies use different teams for each one as has been done before. That tightens the loop between spend and expense management, the release says, and can save customers around five days each month.

Now, the expansion will let users access the benefits of Ramp’s ability to do away with duplicate and other needless expenses, which can help to cut down on expenses overall, the company says. The idea was to help spend-centered companies boost revenue from customers using cards without the expenses also coming from that same source.

The option to streamline that kind of payment could be a boost for companies that rely on users putting their cards down to pay at gas stations, restaurants and other businesses.

The new updates have been in development for months, with some customers doing trials for the project since March, the release says. Ramp has slowly been expanding access to it since then.

Ramp Co-Founder and CEO Eric Glyman spoke with PYMNTS in February about the need for commercial card products to keep spending trending upward. He said there’s often a lot of wasted spending among companies with around 40 to 250 employees in particular, which sees them trying to grow revenue at the expense of a discerning finance team keeping track of what doesn’t need to be spent.

In particular, Glyman singled out software spending as an area where a lot of wasteful spending went on, with companies wasting money on duplicate subscriptions and spending too much in general.