Financial operations platform Ramp on April 29 launched AI agents that work together to run the buying process, triaging employee requests, sourcing vendors, reviewing contract terms, and handling compliance checks.
Ramp says the launch marks a significant expansion of its procurement solution, as the New York City-based company continues to extend from managing spend to running the entire purchasing process—from source to payment.
Ramp’s AI agents execute entire sourcing events, detect compliance risks, and identify savings opportunities. The agents run on pricing data from millions of Ramp transactions, so a 200-person company walks into a negotiation with the same benchmark data a Fortune 500 would, the company said.
“The tools companies use to buy haven’t kept pace with the speed or sophistication of what they’re buying,” Geoff Charles, chief product officer at Ramp, said in a statement. “We built a purchasing platform where AI agents do the work. Finance teams can hire Ramp as an extension of their team to run purchasing end-to-end.”
Every agent in the new platform is backed by anonymized pricing benchmarks and vendor data from Ramp, tailored to each customer’s business size, industry, and specific needs. Taken together, Ramp Procurement customers are saving an average of 16% annually on vendor costs and eliminating 46 hours per month of manual purchasing work, the company says.
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Key benefits include:
- Natural language intake: Employees tell Ramp what they need in plain English. The agent asks context-aware follow-up questions, pre-fills the request form, and catches policy violations before anything hits an approver’s queue.
- Advanced workflow builder: A rebuilt workflow engine supports parallel approval paths, bidirectional integrations with contract lifecycle management, third-party risk management, and ticketing tools and AI-driven vendor evaluations. Customers are running their entire procurement process three times faster than before, Ramp says.
- Agent-run due diligence: AI agents conduct custom compliance checks for security, legal, and finance teams before a request reaches an approver, saving stakeholders approximately two hours of manual research per request.
- Renewal and contract intelligence: That AI contract ballooned from $39,000 to $500,000 in two years, and it’s up in two days. Ninety days out, Ramp delivers the negotiation briefing: pricing benchmarks, Okta seat usage, user satisfaction signals, and flagged contract terms—so every renewal decision is instantly backed by data.
- Zero-touch sourcing (early access): Describe the vendor you need. Ramp researches options, generates the RFx, collects vendor responses, scores them, and recommends a winner. Sourcing events that used to take weeks of research and coordination are compressed into a single conversation with Ramp.
- Full procurement reporting suite: Get end-to-end visibility into your spend and process. See every purchase from request to purchase order to payment. Ramp surfaces outstanding purchase orders, budget variance, and approval bottlenecks. If you need something specific, just ask in plain English and Ramp generates the report.
“This is the first step toward a fully autonomous back office,” Charles said. “Every company deserves procurement-grade rigor. Now they can have it—whether they have a procurement team or not.”
More information about Ramp Procurement can be found here.
Photo credit: Elizabeth Lin/X
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