Ramp, a spend management platform, today announced a new integration with Microsoft Copilot and new product features that aim to streamline expense management for businesses using both platforms.
The integration with Copilot for Microsoft 365 allows Ramp customers to access expense controls and insights directly within Microsoft Teams. Users can now leverage AI to analyze spend patterns, set real-time alerts, and take actions like issuing new cards by using natural language. As an early adopter of Copilot, Ramp is one of the first finance platforms expanding the assistant's capabilities.
The company says this will essentially eliminate the need to switch between multiple systems. Furthermore, the ease of submitting receipts and reviewing spend requests within a familiar workspace like Microsoft Teams is a considerable advancement in user experience and operational efficiency.
The traditional approach to corporate card and expense management, which typically involves auditing spend post-transaction and burdening employees with paperwork, is undergoing a transformation. Ramp's integration with Microsoft Teams Copilot represents a shift towards proactive financial management. By combining corporate cards and expense management into a single platform, Ramp empowers finance teams with pre-spending controls, fostering smarter business spending and eliminating the need for time-consuming expense reports.
For Microsoft and Ramp customers, the most beneficial feature of this integration is the use of natural language within Teams to interact with Ramp's system. Employees and administrators can inquire about spending policies, analyze spending patterns, set spending limits, and create real-time alerts—all through simple, conversational commands. This feature not only enhances the efficiency of financial operations but also brings a level of intuitiveness and ease that was previously unattainable.
In addition to the Teams integration, Ramp also revealed new expense automation features powered by AI. These include AI that flags potentially non-compliant transactions before they reach the finance team, and auto-generated receipts for small purchases to reduce receipt collection burdens.
The integration and new AI features build on Ramp's relationship with Microsoft and align with Ramp's vision for intelligent financial automation. The goal is to enable more streamlined processes so businesses can increase productivity and effectiveness.