- Ramp is launching Ramp Plus, a new suite of procurement tools.
- Ramp Plus will help finance teams with procurement-related tasks, including approval workflows, global expense capabilities, payment card controls, and more.
- The new tools will be available starting in September.
Business finance automation platform Ramp is getting a lift today. The New York-based company has launched Ramp Plus, a new procurement solution to help businesses scale. “With Ramp Plus,” the company explained in an announcement, “we are helping growing companies with their most complex financial operations.”
Today’s launch positions Ramp as a more unified platform to help finance teams with procurement-related tasks. Some of the new capabilities include:
- Procure-to-pay solution that helps businesses with spend requests, approval workflows, and purchase order tracking.
- Global expenses and payments capabilities that enable global spending with support for multiple entities, multiple currencies, tax reporting, and debiting for select currencies.
- A workflow builder that helps businesses automate complex processes with rules-based workflows.
- Enhanced controls and policy enforcement that include payment card auto-locks, transaction review mandates, and flags for out-of-policy expenses.
Ramp Plus can be easily integrated within an organization’s existing tech stack.
Shopify is one of Ramp Plus’ early partners. The ecommerce company is leveraging Ramp’s new technology to help manage business expenses and issue payment cards for its 10,000+ employees.
Ramp Plus will be available starting in September, and Ramp is automatically upgrading all of its existing SMBs and mid-market business customers to Ramp Plus for one year for free. Other existing Ramp customers that sign up for Ramp Plus before September 19 can receive complimentary access to the new service for free for a year.
Ramp was founded in 2019 and serves 15,000 companies that range in size from startups to enterprises with its suite of payment cards, expense management tools, accounts payable offerings, working capital, and more. The company has raised $1.4 billion in funding, including its most recent $200 million Series C round. Eric Glyman is co-founder and CEO.