Eric Glyman, Co-founder of Ramp

**David Senra** (0:02)
I want to basically download of your thoughts on how you're thinking about your business today and moving forward in, let's say, the next few months.

**Eric Glyman** (0:09)
You use Ramp and you know it, but I'm just going to give you a snapshot of where we are. You can think of Ramp as smarter financial infrastructure to run your business, right? From one single place, you can make payments of all kinds, whether that's cards, bill payments, procurement. You can better manage funds.
You can automate expenses and even automate your accounting, right? The way all of these tools are built is meant to be a single plane for you to better run your business and get more value at every dollar an hour. The way that we measure ourselves is how many fewer dollars do our customers spend after adopting Ramp, and how many fewer hours are they using to go and run their business? Today, over 70,000 businesses use Ramp. Over 3 percent of all of the corporate card transactions in the United States are powered by Ramp, and nearly 1 percent of all the corporate transactions are running through Ramp. I think the most useful piece of information is that the typical business that adopts Ramp is able to cut their expenses by over 5 percent per year. As you know, a dollar saved is more than a dollar earned. The typical business that adopts Ramp is growing their revenue a median of 16 percent per year. The US average is 3-4 percent. We're just trying to make dollars and hours go further.

**David Senra** (1:22)
You and I, when we're talking off-camera, talk a lot about AI.
The Ramp started as corporate credit cards. Now, if you look at how people speak about you guys on X, it's like they're just using AI to make your finance team more efficient and happier is a great line that you have. Talk about some of the ways that you guys are using AI and what are the products you're building.

**Eric Glyman** (1:44)
One of the most, I would say, present experiences is just the act of, let's say, doing an expense report. We'll go there, we'll talk about paying bills, we'll talk about closing your books.
For many people, doing your expense is just the worst hour of your month. If you think about it, it's nuts that everyone accepts as normal that some company somewhere is going to issue you or your employee a card. Your expense policy is not going to drive it, the thing actually works. You're going to pay for a client dinner, you're going to get a piece of paper, then you're going to go into another system maintained by an entirely different company and you, the employee, are going to go manually do your expenses yourself. Kind of a waste of time. You could do it that day, you probably do it a month later, and it's an hour of your time wasted, someone in another city or state reviews this thing, it's a whole rigmarole. At Ramp, we fuse all of it, right? And so we issue smart cards, your expense policy drives how the thing actually behaves. You tap it, we check in real time, is it in or out of policy? If it is, we pull the data from the merchant, we process the transaction, we write the memo, we push it into your accounting software and it's done. Zero touch expenses. Similar for paying bills. Often if you're a small business and let's say you receive an invoice from a vendor, it's 50 clicks and a lot of your time wasted for you or an AP clerk. You're checking who is this vendor? Why do we owe them money? Did they deliver the service that they promised they would?
You're entering the itemize level details and it could be 50 clicks before the time you're done with ramp. You upload it, we check all those things.
Do you have a contract? Was a service ultimately rendered? All the fields are entered for you and if you go and change it, the next time you get a similar invoice, it's done correctly. And so the effect is actually like your bills are paid on time. If there's a lower cost way to do it, maybe you can earn cash back on it, or maybe you get better terms by paying early. We can do that automatically for you. And so the effect is something more like if there's car companies interested, like maybe a Tesla is designed to not just get you from A to B, but to drive you there without you needing to spend your focus on it. Ramp is trying to do this for your financial processes. And the effect is if you're a CFO, it gives you one place where all of the funds that are moving inside of your organization are being tracked or being accounted for.