Eric Glyman

What's unique about, uh, agents is I just, I think there's a lot of jargon around this. Um, as I think of them as models plus tools, um, you know, they're not just the model response, but you give them permission to go do something on your behalf. Uh, whereas intelligence might've said, I suggest you categorize it in this way. I think this might be fraud. Uh, an agent will go, uh, and can automatically approve that report for you, uh, can go, uh, actually initiate the buying purchase, um, or pro

we use a lot on accounting automation, bill payment automation, procurement automation.

today ramp is not only faster, but more accurate, um, you know, really then, um, almost all accountants, um, you know, using the platform.

open AI had their, their dev day and they highlighted, it was only 30 companies ever, um, that have consumed more than a trillion tokens, uh, on their model and ramp was one.

on your consumer card today, one of the most frustrating experiences people have is they sign up for a gym or a subscription to a service and they want to cancel it and you can't do it. You know, uh, you call them, they won't pick up the phone. You wish you could go to the card. Um, you can't turn it off with ramp. We were the first, uh, in the world and still one of the only companies on the planet where you can one click, whether it's on one merchant or 10,000, you know, merchants, 10,000 card

So first, for most business owners, I think the average American business has a profit margin of 8%, I think roughly last year, which, you know, if you just think about the math of that, and if you're valued, most businesses in America are profitable and valued on a, you know, a multiple of profits. A dollar saved is not equivalent to a dollar earned. You know, a dollar cut of cost is mathematically equivalent to $12 earned if you were trying to get more profit dollars. And so we think that actu

we want to find ways to efficiently, uh, deploy more capital.

we do have a component, um, where you can add on, uh, paid seat based software. Um, it is an extraordinarily fast growing business line. Um, you know, it's, it's, uh, you know, two years old and, uh, you know, uh, already the second largest, uh, component of what we do.

we, we, we passed over a billion a year in revenue. Um, the business is just about doubling and, um, you know, we're doing it while generating cash

And then more interestingly, you can, this is even broken down in a product I love in the in ramps product called price intelligence. And then accounting automation, where you can see, you know, maybe you get a quote from a vendor like Salesforce, they tell you it'll be $300 per seat, you can upload that contract and see here's what the rest of the market is paying. And so just as you can go on Zillow and see what your home might be worth, you can figure out if you're paying market rate or getti

the model layer? And dig in in any way. But that's been a really fun project, open source.

And through that, it turns out it's an incredible index in an aggregated and anonymized way to get a sense of what's actually happening in the economy. You can see this at any point. Just go to ramp.com slash data and you can dive into and see, you know, spend increasing, decreasing where people say, you know, growth is happening in the market.

We're now ramp customers over 50,000 organizations are spending more than $100 billion per year across the platform.

I do. Um, and in some say it's, it's actually been, um, you know, almost faster.

you catch like 15 times more, uh, out of policy spend and you, you save a whole lot of time, uh, that, um, just would have been, you know, people doing low value tasks.

we've seen, uh, leaders, um, you know, like a notion or a Quora or, you know, today, um, you know, thousands and thousands of other companies adopt this and they're able to automatically approve 90% of transactions that are in policy.

we built an AI that knows your expense policy in detail, can see all the context around the, uh, the transaction and with 99% plus accuracy is able to approve flag or deny transactions, uh, on the manager's behalf.

you invest a lot in, uh, benchmarking, uh, and different tools to kind of go and see what's the accuracy of the models for certain tasks. And it turned out that for 90% of tasks, um, roughly it is a hundred percent accurate. And for 10% of tasks, it is completely inaccurate. And so once you learn, once the models are good at, what you do is you take this 90% of traffic that works really well, and you send it to the low cost model here. And this last 10% of traffic, you send it to the expensive m

we use a lot on accounting automation, bill payment automation, procurement automation.

today ramp is not only faster, but more accurate, um, you know, really then, uh, almost all accountants, um, you know, using the platform.

last week, open AI had their, their dev day and they highlighted, it was only 30 companies ever, um, that have consumed more than a trillion tokens, uh, on their model and ramp was one.

you can't turn it off with ramp. We were the first, uh, in the world and still one of the only companies on the planet where you can one click, whether it's on one merchant or 10,000, you know, merchants, 10,000 cards. Um, you can say, I don't want to pay for, um, this gym anymore. And every other merchant in, in the world can charge your card except for that one.

we think that actually reducing cost and helping people spend less ramp helps businesses spend more than 5% less every year is just much more powerful than, you know, the points and rewards. And so we focused on how can we take what at launch when Alex first covered us, we were, you know, help companies cut their expenses by 2% per year. You know, now it's upwards of five. And I think that's too low. I think it should be closer to 10.

we do have a component, um, where you can add on, uh, paid seat based software. Um, it is an extraordinarily fast growing business line. Um, you know, it's, uh, you know, two years old and, uh, you know, uh, already the second largest, uh, component of what we do.

something like 2% of all corporate and small business card spend in the U S is, is, uh, is happening on ramp, but 98% is not.

we, we, we passed over a billion a year in revenue. Um, the business is just about doubling and, um, you know, we're doing it while generating cash

I think the other way to look at this is actually, um, maybe there's going to be more companies. Um, uh, maybe there's going to be more people who are, uh, not stuck in, um, you know, mid-level, uh, how absolutely working at these giant organizations, but instead, whether it's at startups or more lean and highly leveraged companies, people can just get more done with every dollar an hour. And so I tend to be fairly hopeful in the year and midterm around this.

you can figure out if you're paying market rate or getting charged a little too much and make your business a little bit better.

we just try to open source this and let people see what, you know, right or wrong, what are people moving their businesses to? So you can have the latest sense of what actually might be creating value, not just who's marketing, but what are people buying?

We're now ramp customers over 50,000 organizations are spending more than $100 billion per year across the platform.

What's unique about, uh, agents is I, I think there's a lot of jargon around this. Um, as I think of them as models plus tools, um, you know, they're not just the model response, but you give them permission to go do something on your behalf. Uh, whereas intelligence might've said, I suggest you categorize it in this way. I think this might be fraud. Uh, an agent will go, uh, and can automatically approve that report for you, uh, can go, uh, actually initiate the buying purchase, um, or process

ramp is not only faster, but more accurate, um, you know, really then, uh, almost all accountants, um, you know, using the platform.

with ramp we were the first, uh, in the world and still one of the only companies on the planet where you can one click, whether it's on one merchant or 10,000, you know, merchants, 10,000 cards. Um, you can say, I don't want to pay for, um, this gym anymore. And every other merchant in, in the world can charge your card except for that one. Um, that should exist on other cards, but somehow it doesn't. And you know, when you're running a, a company, um, things like this happen all the time. You,

we were, you know, help companies cut their expenses by 2% per year. You know, now it's upwards of five. And I think that's too low. I think it should be closer to 10.

a dollar saved is not equivalent to a dollar earned. You know, a dollar cut of cost is mathematically equivalent to $12 earned if you were trying to get more profit dollars. And so we think that actually reducing cost and helping people spend less ramp helps businesses spend more than 5% less every year is just much more powerful than, you know, the points and rewards.

something like 2% of all corporate and small business card spend in the U S is, is, is happening on ramp, but 98% is not. Uh, and so, uh, I think there is a good point of, we want to find ways to efficiently, uh, deploy more capital.

we, we, we passed over a billion a year in revenue. Um, the business is just about doubling and, um, you know, we're doing it while generating cash

we do have a component, um, where you can add on, uh, paid seat based software. Um, it is an extraordinarily fast growing business line. Um, you know, it's, it's, uh, you know, two years old and, uh, you know, already the second largest, uh, component of what we do.

And then more interestingly, you can, this is even broken down in a product I love in the in ramps product called price intelligence. And then accounting automation, where you can see, you know, maybe you get a quote from a vendor like Salesforce, they tell you it'll be $300 per seat, you can upload that contract and see here's what the rest of the market is paying.

And through that, it turns out it's an incredible index in an aggregated and anonymized way to get a sense of what's actually happening in the economy.

We're now ramp customers over 50,000 organizations are spending more than $100 billion per year across the platform.