logo

Ramp rolls out AI agents

Finextra11-07-2025
Ramp AI Finance Automation officially launches with a new set of AI agents that are meant to make the work of finance teams easier.
0
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Ramp's smart automation helps businesses of all sizes cut down on manual tasks, increase productivity, and make decisions about money faster. It does everything from approving expenses to analysing spending in real time.
Finance teams are being asked to do more with less, yet the function remains largely manual. Teams using legacy platforms today spend up to 70% of their time on tasks like expense review, policy enforcement, and compliance audits. As a result, 59% of professionals in controllership roles report making several errors each month.
Ramp's agents for controllers solve these problems by eliminating redundant tasks, working autonomously to review expenses and enforce policy.
Built on Ramp Intelligence, powered by OpenAI's reasoning models
Ramp's agents for controllers apply context-aware, human-like reasoning to manage entire workflows independently and proactively. Unlike traditional automation that relies on basic rules and conditional logic, these agents reason and act on behalf of the finance team, working independently to enforce spend policies at scale, immediately prevent violations, and continuously improve company spending guidelines. Ramp agents are meticulous, auditable, and consistent, escalating issues when needed and providing a clear audit trail for every decision. Early customers reported 99% accuracy in expense approvals1.
Ramp's AI agents act on data instantly, giving finance teams a co-pilot for real-time operations by suggesting actions and pointing out problems.
'Before Ramp agents, we manually reviewed 100% of transactions. Now, Ramp agents take the first pass and flag what actually needs our attention. Every decision Ramp makes is logged with a clear audit trail. Accuracy matters, and Ramp consistently gets it right. We've seen fewer errors, faster reviews, and stronger policy enforcement across the board,' said Richard Gobea, Finance Manager at Quora.
Ramp agents are powered by Ramp Intelligence, Ramp's AI platform that automates expense reporting, data entry, contract review, and accounting accuracy. Agents learn and adapt directly from company policies and feedback from users to:
Approve low-risk expenses or provide a recommendation with rationale to the approver
Alert of suspicious receipts and invoices
Answer employee questions about spend policy
Uncover trends that signal fraud or careless spend
Suggest edits to company expense policies based on usage and feedback
'Ramp agents have complete knowledge of your accounting rules and expense policies that employees don't carry in their heads, plus instant access to transaction details that finance teams would need time to gather. This lets them act faster and more accurately on every transaction,' said Karim Atiyeh, co-founder and CTO at Ramp. 'This isn't just automation. It's intelligent reasoning that handles complex financial decisions to reduce errors, strengthen policy enforcement, and stop fraud.'
'It's amazing to see what Ramp has built with our newest reasoning models,' said Olivier Godement, head of platform product at OpenAI. 'These agents are taking care of key financial processes and, most importantly, getting them right – letting teams focus on deeper strategic work.'
The AI advantage for finance
Ramp agents put best-in-class AI into the hands of finance teams and provide a new layer of engineering support to resource-constrained teams. Ramp invests 50% of its payroll in research and development so every finance team, no matter the size, can benefit from the latest breakthroughs in AI automation and reasoning.
'Ramp takes the manual work off our plate and gives us the confidence that we're ahead of emerging AI fraud threats before they hit us,' said Lawrence Dann-Fenwick, Head of Strategic Finance at Hex.
Finance teams at leading AI companies like Notion, Hex, Sierra, and Quora already use Ramp to move faster, operate smarter, and stretch every dollar further.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Exclusive: Nvidia orders 300,000 H20 chips from TSMC due to robust China demand, sources say
Exclusive: Nvidia orders 300,000 H20 chips from TSMC due to robust China demand, sources say

Reuters

time25 minutes ago

  • Reuters

Exclusive: Nvidia orders 300,000 H20 chips from TSMC due to robust China demand, sources say

BEIJING/SHANGHAI/NEW YORK, July 29 (Reuters) - Nvidia (NVDA.O), opens new tab placed orders for 300,000 H20 chipsets with contract manufacturer TSMC ( opens new tab last week, two sources said, with one of them adding that strong Chinese demand had led the U.S. firm to change its mind about just relying on its existing stockpile. The Trump administration this month allowed Nvidia to resume sales of H20 graphics processing units (GPUs) to China, reversing an effective ban imposed in April designed to keep advanced AI chips out of Chinese hands due to national security concerns. Nvidia developed the H20 specifically for the Chinese market after U.S. export restrictions on its other AI chipsets were imposed in late 2023. The H20 does not have as much computing power as Nvidia's H100 or its new Blackwell series sold in markets outside China. The new orders with Taiwan's TMSC would add to existing inventory of 600,000 to 700,000 H20 chips, according to the sources who were not authorised to speak to media and declined to be identified. For comparison purposes, Nvidia sold around 1 million H20 chips in 2024, according to U.S. research firm SemiAnalysis. Nvidia CEO Jensen Huang said during a trip to Beijing this month that the level of H20 orders it received would determine whether production would begin again, adding that any restart to the supply chain would take nine months. The Information reported after Huang's trip that Nvidia had told customers it had limited H20 stocks available and it had no immediate plans to restart wafer production for the GPU. Nvidia needs to obtain export licenses from the U.S. government to ship the H20 chips. It said in mid-July it had been assured by authorities that it would get them soon. The U.S. Department of Commerce has yet to approve those licenses, one of the sources and a third source said. Nvidia on Monday declined to comment on the new orders or the status of its license applications. TSMC declined to comment. The U.S. Commerce Department did not immediately respond to a request for comment. Nvidia has asked Chinese companies interested in purchasing Nvidia H20 chips to submit new documentation including order volume forecasts from clients, said one of the sources and a fourth source. The Trump administration said the resumption of H20 sales was part of negotiations with China over rare earth magnets - elements essential for many industries and which Beijing had limited exports of as trade war tensions escalated. The decision drew bipartisan condemnation from U.S. legislators who are worried that giving China access to the H20 will impede U.S. efforts to maintain its lead in AI technology. But Nvidia and others argue that it is important to retain Chinese interest in its chips - which work with Nvidia's software tools - so that developers do not completely switch over to offerings from rivals like Huawei. Before the April ban, Chinese technology giants including Tencent ( opens new tab, ByteDance and Alibaba ( opens new tab substantially increased H20 orders as they deployed DeepSeek's cost-effective AI models as well as their own models. The popularity of Nvidia products in China, despite the advent of rival, albeit less powerful, offerings from Huawei, has been underscored by a boom in repair demand for its other banned GPUS - many of which have been smuggled into the country. After the April ban on H20 sales, Nvidia warned that it would have to write off $5.5 billion in inventories, while Huang told the Stratechery podcast that the company also had to forgo $15 billion in potential sales.

South Korea in push for US trade deal to offer package including shipbuilding tie-up
South Korea in push for US trade deal to offer package including shipbuilding tie-up

Reuters

time25 minutes ago

  • Reuters

South Korea in push for US trade deal to offer package including shipbuilding tie-up

SEOUL, July 29 (Reuters) - South Korean Finance Minister Koo Yun-cheol said on Tuesday he would seek a mutually beneficial trade deal when he meets U.S. Treasury Secretary Scott Bessent for talks this week, just days before an August 1 deadline expires to avoid punishing tariffs. Speaking at the airport before departing for Washington, Koo said he would propose at Thursday's meeting a "programme" South Korea had prepared and consult on areas where they could cooperate in the mid-to-long term, such as shipbuilding. South Korea's Hanwha Group, parent of shipbuilder Hanwha Ocean ( opens new tab, had submitted a major investment plan to government officials, according to two people familiar with the matter. The plan included expanding its recently acquired Philly Shipyard in the state of Pennsylvania and involved Hanwha Group and some of its affiliates, said the sources, who asked not to be identified due to the sensitivity of the issue. Hanwha Group's Vice Chairman Kim Dong-kwan also flew to Washington to support trade negotiations, local media reported. Seoul officials are scrambling in an all-out push to clinch a trade deal ahead of the August 1 deadline to remove or reduce tariffs threatened by U.S. President Donald Trump against the country's key industrial exports to the United States. Koo's plan to travel to Washington last week for talks with Bessent was postponed due to the U.S. treasury chief's scheduling conflict. "Treasury Secretary Bessent holds the important position of overseeing trade negotiations in the Trump administration," Koo said in brief remarks to reporters. "We will make the best effort to derive an agreement based on our national interest that would allow South Korea and the United States to co-exist," he said. Koo said he would be joining Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo who have been holding talks in Washington with U.S. officials including Commerce Secretary Howard Lutnick for an "all-out response." Lutnick said in an interview with Fox News on Monday that South Korean officials had flown to Scotland to meet with him. "Think of how much they really, really want to get a deal done," he said. Foreign Minister Cho Hyun will also visit Washington this week for a meeting with U.S. Secretary of State Marco Rubio, following a visit to Japan on Tuesday to meet his counterpart.

India's GAIL issues swap tender for six LNG cargoes, sources say
India's GAIL issues swap tender for six LNG cargoes, sources say

Reuters

time25 minutes ago

  • Reuters

India's GAIL issues swap tender for six LNG cargoes, sources say

SINGAPORE, July 29 (Reuters) - GAIL (India) Ltd ( opens new tab has issued a swap tender, offering six U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for six deliveries to India, two industry sources said on Tuesday. GAIL, India's largest gas distributor, is offering the cargoes for loading on a free-on-board (FOB) basis in February, April, June, August, October and December 2026, from Sabine Pass or Cove Point, said one of the sources. In exchange, GAIL is seeking six cargoes for delivery on a delivered ex-ship (DES) basis to India for the same months. The tender closes on August 6, said the sources.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store