Personas & pain points
Ramp’s two primary mid-market buyer personas
Financial Controller, VP of Finance (CFO)
Ramp's two managed travel partners
Corporate Traveler, TravelPerk
Amount of time between purchase and payment date
Float
Definition of finance automation
New software category that uses technology (AI) to complete financial tasks usually done by humans
3 pain points for small businesses when paying bills
Manual data entry, handling paper invoices, collecting vendor details, mailing physical checks, email approvals
Qualification criteria for Ramp for Travel
Less $1M in annual travel spend, no managed travel solution
4 e-commerce platforms supported by new sales-based u/w
Shopify, Stripe, Amazon, Square, WooCommerce, Magento, PrestaShop
Marquee Ramp customers from at least 3 industries
Healthcare (Bristol-Hospice), Technology (Applied Intuition), E-commerce (Cometeer), Transportation (Avelo Airlines)
3 capabilities supported by Bill.com that are NOT supported by Ramp
International payments, approval groups, vendor network, Sage/NetSuite integrations
Percentage of Ramp’s customer base that is SMB
87%
Two pain points when using a managed travel solution
Limited options, wasteful spending (personal cards), high cost (trip fees), low adoption
Product in development that will help customers finance their Bill Pay invoices
Ramp Flex
3 manual tasks that can be automated with Bill Pay
Bill creation, data entry (line items), payments, approvals, coding/accounting
2 capabilities that make Ramp more scalable than Brex (50+ FTE)
Multiple expense policies, custom approval flows, card programs, accounting automation, HRIS integrations
3 pain points for a financial controller
Limited spend controls, manual reporting, tedious month-end close, disparate systems, accounting team productivity
Three benefits of using a managed travel solution
Centralized bookings, preferred rates, re-booking services, trip protection
Upper limit on revenue-based u/w as % of GLA
50%
4 net new Ramp product capabilities on the 2022 product roadmap
Procurement, mobile app, budgets, invoice financing (Flex), international payments, vendor portal
2 talking points for pitching Ramp vs. Airbase
100% free, ease-of-use, faster time-to-value, savings (negotiations, insights)
3 benefits of Ramp for a VP of Finance
Real-time dashboards, improved team productivity, more accurate bookkeeping
4 new features part of Ramp for Travel
Request repayment, travel policy, trips dashboard, receipt integrations
Phrase that describes when revenue is collected before payment is due to suppliers
Negative cash conversion cycle
Number of hours Ramp saves the average customer when closing the books
72 (80 → 8)
3 talking points when pitching Ramp vs. TripActions Liquid
Best-of-breed software vs. bolt-on solution, automated vs. manual expenses, flexibility vs. vendor lock-in