Ramp announced Ramp Accounts Receivable, a new product to make it easier and faster for businesses to go from making a sale to getting paid. Businesses can now rely on Ramp to manage both sides of a company's financial operations: costs and revenue.

"Ramp has always helped businesses control the money going out. With Ramp Accounts Receivable, we can now help them manage the money coming in. This has been a top request from our customers," said Geoff Charles, Chief Product Officer at Ramp. "Finance teams today spend too much time chasing payments for outstanding invoices. Ramp's AI turns contracts into ready-to-review invoices, prepares informed follow-ups, and matches payments back to the books."

"Today, 97% of our payments go through Ramp, now we get to do the same with revenue," said Roee Ben-Zur, VP of Operations at Matia, a data operations platform.

Unpaid Invoices Create A Cash Crunch

For most businesses, the information about accounts receivable is scattered across contracts, purchase orders, email threads, spreadsheets, and bank feeds. Finance teams have to figure out who owes what, create invoices and billing schedules, track balances, decide when to follow up, reconcile transactions and and keep the books updated. Each manual step creates another opportunity for errors and delay.

Even more, last year 43% of the value of U.S. B2B invoices were overdue. Getting paid a few days sooner can mean more cash on hand to buy inventory, invest in growth, or operate with more certainty. This is especially important when 56% of small businesses say paying operating expenses is difficult and 51% struggle with uneven cash flow. A single late payment can make it harder to pay bills or make payroll.

Automate The Full Invoice-To-Cash Lifecycle

Ramp Accounts Receivable automates the full invoice-to-cash workflow so businesses get paid faster. Finance teams can now:

• Create invoices without manual entry. Ramp turns contracts and purchase orders into reviewable invoices.
• Draft follow-ups faster. Ramp uses the business's collections policy, customer context, and invoice details to draft the right message for review.
• Match payments to invoices easily. Ramp tracks incoming payments and matches them to the right invoices.
• Recognize revenue automatically. Ramp turns contract terms into revenue recognition schedules and keeps everything synced with the business's ERP.

"Ramp Accounts Receivable works really well. We haven't had to do any manual reconciliation, and everything that's been marked paid, overdue, or unpaid has been accurate. Before Ramp, one late-payment could mean 20 or 30 emails back and forth," said Ian Mackey, VP at SciComm Media, the production company behind top podcasts like Huberman Lab, Perform with Dr. Andy Galpin, and David Senra.

Businesses can now manage all their finances, from payables and receivables to banking, on Ramp. Ramp Accounts Receivable is now available to U.S.-based, single-entity businesses with QuickBooks Online and NetSuite integrations, with other ERP integrations coming soon.

This product launch follows Ramp's recent announcement that businesses in the UK can now use its corporate cards, expense management, bill pay and accounting automation.