Its features are designed to empower teams and uncover opportunities for cost savings, making it an invaluable tool for businesses of all sizes.
Ramp Intelligence is an AI-powered tool designed to help finance teams streamline their processes, reduce costs, and uncover opportunities for improvement. The tool offers a range of features, including vendor management, smart accounting, expenses management, and a smart assistant called Copilot.
One of the key features of Ramp Intelligence is vendor management, which allows users to track all vendors and contracts in one place. The tool provides software price intelligence, helping businesses to get the best deal. It utilizes crowd-sourced data from real transactions to provide users with instant comparisons and cost-per-user details, enabling more successful negotiations.
Another notable feature is Smart Accounting, which aims to speed up monthly close processes. It automates the coding of employee receipts, categorizes transactions accurately, and suggests precise coding based on user actions and expert accountant insights. This helps users process thousands of transactions efficiently and review only flagged expenses that require attention.
Ramp Intelligence also offers expenses management capabilities, automating the collection and matching of receipts for error-free expense submission. It generates AI-generated fields, categories, and memos, eliminating guesswork and ensuring policy compliance. Non-compliant expenses are flagged, and employees are automatically notified.
In addition to these features, Ramp Intelligence provides a smart assistant called Copilot, which uses AI to answer questions, build approval workflows, and suggest ways to reduce costs. It provides detailed transaction data and recommendations for quick analysis and offers full transparency into the financial data that supports its answers.
Overall, Ramp Intelligence is a comprehensive AI tool for finance professionals, providing speed, accuracy, and insights to streamline processes and optimize financial management. Its features are designed to empower teams and uncover opportunities for cost savings, making it an invaluable tool for businesses of all sizes.
