Ramp, the only spend management platform designed to remove the friction from finance, announced a new integration with Microsoft Copilot and new product features that help finance teams work smarter and make expenses effortless for the 15,000+ businesses spending billions of dollars per month on Ramp.
Ramp’s plugin with Copilot for Microsoft 365 means businesses don’t have to bounce between multiple tools and applications to gather spend insights or set up advanced controls. Now, they can use natural language to access Ramp’s smart AI assistant from their workspace and get the most advanced work done faster, such as:
- Take action directly within Teams, like issuing new cards or setting enhanced policy controls.
- Ask questions ranging from “Can I order alcohol at our team dinner tonight?” to “How do I reduce T&E costs?” and get an answer in seconds, in context, based on their businesses’ own data.
- Set up and receive real-time alerts on employee transactions.
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Ramp is proud to be an early finance use case for Copilot for Microsoft 365. The integration comes as Ramp and Microsoft expand their relationship and deepen Ramp’s presence across Microsoft’s ecosystem to drive better business outcomes for the world-class enterprises running on both platforms. This includes a receipt-matching integration with Microsoft Outlook, launched earlier in 2023, that helps make expense reports obsolete and has quickly become one of Ramp’s most used integrations.
Ramp is also revealing advancements in its expense automations that use AI to catch fraudulent and non-compliant behavior on behalf of finance teams, and alleviate employees, managers, and finance leaders alike from the drudgery of manual expense reporting tasks. These include:
- AI that flags out-of-policy and non-compliant transactions, like alcohol in a receipt line item, weekend spend, incorrect receipts or duplicated receipts from previous transactions, and more. Then, Ramp works with the employee to resolve the issue before involving the finance team.
- Auto-generated receipts for transactions under $75 from common vendors like gas stations and coffee shops — relieving employees from tracking receipts for everyday purchases while keeping businesses compliant with IRS requirements.
Together, Ramp’s Microsoft Copilot plugin and AI-powered expense automations do more than just streamline processes, they enable better, more intuitive ways of working across back-end operations. With these innovations, Ramp is delivering its vision of a world where businesses are more productive and effective because their people are free to focus on strategic work — not worry about expenses.
“Ramp is here to redefine the status quo and make finance simple, so finance leaders can focus on what truly matters to their business,” says Eric Glyman, CEO, Ramp. “Simplicity and ease-of-use are at the heart of what our customers love about Ramp — from routing for the right approvals, to automatically matching receipts to transactions, to maintaining effective controls. By seamlessly integrating with the software businesses use daily, we give back the time and energy that would have otherwise been spent managing 30 different tools. We’re thrilled to partner with Microsoft to continue bringing great software together and making finance frictionless.”
“Microsoft Copilot in Microsoft 365 represents a step-change in how people can interact with their tools to be more productive and creative simply by using natural language,” says Srini Raghavan, Vice President of PM – Microsoft Teams Ecosystem. “We’re pleased to work with Ramp to unlock even more value for these businesses through intelligent financial automation.”
SOURCE: PRNewsWire