At first sight, Ramp looks like another corporate card, but as a former credit card product manager, I can tell you that it's far more than that. [1]
If you are looking for rewards and perks, Ramp's corporate card (technically a charge card, not a credit card, as it must be paid in full each month) appears to be fairly plain, just a simple 1.5% cashback, with none of the rewards for bonuses for spending - e.g. 4x rideshare, 2x SaaS services, 2x on travel - that are common for corporate credit cards these days. Instead of offering rewards to entice you to spend more money, Ramp's positioning is to save you money, primarily by analyzing your corporate spend to identify areas where you could save money, identifying subscriptions across the company to help finance professionals find ways to optimize spend and cut unnecessary subscriptions, and by streamlining expense management through corporate expense policies, expense matching and receipts, and employee reimbursement built directly into the corporate card.
Here's how to get started:
- Signup and deploy accross the company
- Make $250. For signing up through Foresight, Ramp will give you $250 when you pay off your first $1,000 in expenses.
Ramp is not for everyone; if you're a small company with a low monthly spend and less than $250k in the bank, Ramp may not be a fit for you. If that's the case, related options to consider include Divvy and Brex.
Almost daily I help companies evaluate their finance tech stack, contact me with any questions on whether Ramp is a good fit for you.