Ramp launches integrated travel booking product to optimize business travel expenses

SME Banking
04/06/2024 News

Ramp, a leading finance operations platform, has introduced Ramp Travel, a solution designed to simplify business travel booking and reduce costs. This product integrates Ramp's policy controls, expense automation, and spend analytics with Priceline's extensive inventory and competitive deals, streamlining corporate travel management from booking to expense reconciliation.

Addressing a growing need in business travel

Travel and entertainment (T&E) expenditures account for 20% of annual purchases on Ramp, a figure expected to rise as corporate travel rebounds. Ramp Travel aims to enhance its platform, already serving over 25,000 businesses by consolidating spending, controlling costs, and simplifying financial operations.

Partnership with Priceline for enhanced travel options

Launched in collaboration with Priceline Partner Solutions, Ramp Travel provides access to a global network of airlines and accommodations at competitive rates. This integration eliminates common business travel hassles, such as complex expense reports and delayed visibility into spending.

"Ramp already streamlines financial management by automating routine tasks," said Eric Glyman, CEO of Ramp. "Incorporating travel booking into our platform helps organizations save time and resources, allowing them to focus on their core business."

Innovative features of Ramp Travel

Ramp Travel offers key benefits over traditional corporate travel systems:

• Financial Efficiency: Combines Ramp's policy controls with Priceline's deals on flights and hotels, eliminating the compromise between low prices and precise control.

• User-Friendly Booking: Provides an intuitive interface for booking in-policy flights and hotels without extra fees.

• Automation: Automates tasks from receipt collection to transaction coding, allowing employees to focus on their work and finance teams on strategic tasks.

• Real-Time Insights: Delivers immediate visibility into T&E spending to prevent non-compliant activity and identify trends.

• Flexibility: Integrates with external providers like Corporate Traveler and TravelPerk, ensuring seamless expense routing and compliance tracking.

Ramp's latest product marks a significant step in its mission to automate non-strategic tasks and help companies make smarter financial decisions, reinforcing its position in the AI-driven economy.

Related news & insights

Digital Reinvention
15/07/2024 Article

Financial Innovation Spotlight – July 2024 edition

This global innovation journey begins in Singapore, where OCBC Securities offers AI-driven personalized stock recommendations. Then we head to the...

Digital Reinvention
12/07/2024 Interview

NewTech Friday: Trustly – Offering fast, simple and secure online banking payments

Swedish scaleup Trustly is an open banking pioneer and a global payment method. Qorus’ Boris Plantier talked to Oscar Berglund,...

Digital Reinvention
11/07/2024 News

Indosuez Wealth Management expands "StartUp Connections" platform to new markets

Following its success in France, the platform now offers a simplified gateway to an international network of startups for these...

Embedded Insurance
11/07/2024 News

APOLLO and Dream partner to offer digital insurance to residents

This collaboration aims to simplify obtaining comprehensive insurance policies for residents and help property managers efficiently track insurance compliance.

Digital Reinvention
05/07/2024 Interview

NewTech Friday: LoyJoy – Democratizing chatbots

Ulf Loetschert, Managing Director and Co-Founder of LoyJoy, is on a mission to revolutionize the way businesses connect with their...

SME Banking
04/07/2024 News

CaixaBank launches ‘MyBox Retirement’ service for self-employed workers

This service expands the benefits of CaixaBank's long-term savings program to address the unique financial needs and protection requirements of...

03/07/2024 Article

Adapting to change: Business transformation in the banking sector

Fatih Öğün regularly shares his thoughts and enlightened views with our members on the Qorus website, with articles dealing with...

ESG
02/07/2024 Study

Transforming banks into drivers of a positive future

By exploring the various strategies and initiatives that banks are implementing to enhance their social impact, we can gain insight...