Ramp Travel combines Ramp's policy controls,
expense automations, and spend analytics with Priceline's global
inventory and exceptional deals – saving businesses time and money
from booking to book-close
- Leading finance operations platform Ramp introduces new way to
book business travel using AI, automation, and integration with
Priceline.
- Travel & entertainment (T&E) spend accounts for 20% of
annual purchases made on Ramp, and is poised to grow as demand
returns to pre-pandemic levels.
- Represents Ramp's second major category expansion this year,
following Procurement for managing software vendors.
- Follows Ramp's $150 million raise
in April as company accelerates platform expansion and place in the
AI economy.
NEW
YORK, June 4, 2024 /PRNewswire/ -- Ramp, the
finance operations platform designed to save businesses time and
money, today announced the launch of Ramp Travel – a solution
designed to make booking travel and automating expenses easy, low
cost, and intuitive. The news marks Ramp's entrance into the
business travel booking category, and is a significant step in
Ramp's journey to help companies automate non-strategic work and
make smarter decisions about every dollar spent.
Today, over 25,000+ businesses choose Ramp to consolidate spend,
control costs, and simplify their financial operations. Already
these businesses are allocating more of their budgets towards
travel– representing 20% of annual card spend on Ramp, up from ~10%
in 2021. This is expected to scale as demand for corporate travel
rebounds.
As part of the launch, Ramp is partnering with Priceline Partner
Solutions to give Ramp customers streamlined access to Priceline's
global network of airline partners, extensive accommodation
inventory, and industry leading rates. The tool is deeply
integrated with Ramp's powerful expense management and workflow
automations to eliminate the busywork and hassle typically
associated with traveling for work– like expense reports,
cumbersome approval processes to book travel, and delayed
visibility into how employees are spending on trips as they
happen.
"Ramp already makes companies' finances more efficient by
streamlining expenses and automating busywork," says Eric Glyman, CEO, Ramp. "By integrating travel
booking, which has traditionally been a pain point for busywork and
bloat, organizations have more time and resources to focus on what
really matters: their business."
A new model for business travel
Ramp Travel departs
from conventional corporate travel offerings that profit off of
high fees in exchange for guaranteed control over how and where
employees spend. These traditional systems force businesses to
choose between low prices and low controls – or high prices and
better controls, are frustrating and manual to use for employees
and accountants alike, and keep companies in the dark about the
real-time flow of T&E spend across the business.
Ramp believes companies deserve better, and built Ramp Travel
to:
- Eliminate the financial compromise between friendly
rates and precise controls by pairing Ramp's customizable policy
guardrails with access to exceptional deals on flights and hotels
globally- powered by Priceline Partner Solutions.
- Simplify how employees book, with an intuitive interface
to find in-policy flights and hotels in one place, all without
extra booking fees.
- Automate everything from collecting receipts to coding
transactions, so employees on the ground can focus on making
the most of their trip and finance teams can focus on their
business, not busywork.
- Give real-time insights into T&E spend, so companies
can prevent non-compliant activity and uncover negative trends as
they happen.
- Preserve flexibility and choice in how companies book
travel, by integrating with external providers like Corporate
Traveler, TravelPerk, and more. No matter where businesses book,
Ramp AI will effortlessly route expenses to the right trip, show
compliance against policies- down to per diems- and streamline
accounting.
Ramp is uniquely able to realign incentives in business travel
because it's approaching the space as a software and workflows
company designed to help businesses spend less time on manual work
and less money across their expenses, rather than a travel solution
with specific interests. Instead of inflating rates, adding booking
fees, or creating friction with external providers, Ramp is
leveraging its technology and expertise to make traveling for work
more simple and compliant.
"I've used so many systems for travel, and Ramp really knows how
to take the best parts of each and make it so seamless and
efficient," says Staci Robinson, AP
Manager, Pair Eyewear. "Employees don't have to navigate to three
different places just to book travel, and all their spend when they
actually take the trip is all in Ramp, too. From approvals, to
coding, to automatically attaching receipts to each trip – it's
brilliant."
Through the new relationship with Priceline Partner Solutions,
Ramp customers now have access to Priceline's full breadth of
global travel products spanning over 116 countries
worldwide.
"Priceline's extensive inventory and highly competitive rates
will help users seamlessly find the right travel offering to suit
their needs," says Matthew Shutt,
Vice President and General Manager, Priceline Partner Solutions.
"We're excited to partner with Ramp to help take the friction out
of business travel for corporate customers, and improve the
experience for both employees and employers."
Ramp Travel is available now for existing customers to
experience a smarter, better way to travel.
About Ramp
Ramp is the ultimate platform for modern
finance teams. From spend management and expense management
software, to bill payments, vendor management, and procurement,
Ramp's all-in-one solution is designed to automate finance
operations and build healthier businesses. Over 25,000 businesses
have switched to Ramp to cut their expenses by an average of 5% and
close their books 8x faster. To date, the company has saved its
customers over $1 billion and 10
million hours. Learn more at ramp.com.
About Priceline
Priceline, part of Booking Holdings Inc. [NASDAQ: BKNG], has
been a leader in online travel for twenty-five years. Priceline's
proprietary deals technology pairs negotiation with innovation to
analyze billions of data points to generate deep discounts for
customers they can't find anywhere else. Travelers have access to
millions of hotels, flights, alternative accommodations, rental
cars, cruises, vacation packages and experiences from trusted
brands in over 116 countries around the world, 24/7 customer
service and incremental savings when becoming a Priceline VIP. By
making affordable travel within reach for all, Priceline helps
millions of customers each year be there for the moments that
matter to them. Because where your happy place meets your happy
price, that place is Priceline.
Media Contact
press@ramp.com
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SOURCE Ramp