Ramp has announced the launch of Ramp Intelligence, a suite of AI-powered financial tools for businesses to save time and money on transactions, bill payments and accounting. The suite includes vendor pricing intelligence, automated accounting processes, and contract extraction and negotiation. The platform leverages GPT-4 to offer self-coded expenses, faster month-end processes, software pricing and automated insights into business performance. Ramp Intelligence differs from superficial “AI wash” products that have recently appeared on the market. It incorporates AI experts including Satya Nadella and Adam D’Angelo as private investors and advisors. The platform unlocks unstructured data previously siloed in card transaction data, documents and receipts.
Powered by GPT-4, Ramp Intelligence democratizes transactional data worth over $10bn to enhance pricing transparency and productivity while also improving the bottom line. Ramp’s CEO, Eric Greimann, believes generative AI will change how businesses operate. The platform aims to put an end to outdated processes such as expense reports and “contact sales for pricing.”
Ramp Intelligence aggregates spending data from thousands of businesses to uncover cost-saving opportunities and make data-driven decisions. It leverages the wisdom of the crowd to benefit customers and improve their bottom line. The platform empowers people in finance, accounting and IT roles, freeing them up for more strategic work.
Ramp Intelligence is a significant evolution of Ramp’s core time and money-saving engine. The platform has notable AI experts including Satya Nadella, Adam D’Angelo, Fidji Simo and Chris Re as private investors and advisors. Their automation allows customers to act quickly, stay focused on what matters and unlock the potential of unstructured data previously not utilized.