Ramp Adds Treasury Solution to Financial Operations Platform

Ramp has added a treasury solution to its financial operations platform.

The new Ramp Treasury allows businesses to earn 35 times more on their operating cash in a Ramp Business Account than the national average, or potentially earn higher yields in an investment account, the company said in a Wednesday (Jan. 22) press release.

The solution also enables businesses to get around three extra days of working capital and incremental earning by paying bills the day they’re due, and to receive artificial intelligence-powered automated balance alerts and liquidity forecasting, according to the release.

“The old treasury playbook meant either constant micromanaging of cash positions and payment dates … or just accepting you’ll lose out on interest,” Ramp CEO Eric Glyman said in the release. “The new playbook is refreshingly simple: let technology do the heavy lifting, so you don’t have to.”

Ramp Treasury is designed to enable businesses to avoid the trade-off they typically make between either having quick access to their cash or maximizing their earnings, according to the release.

With unlimited, free same-day payments, it also prevents the loss of around three days of working capital and incremental earning potential businesses incur when waiting for transferred funds to settle with their vendors, the release said.

In addition, by applying intelligence to operating funds, the platform automatically calculates how much operating cash businesses need to pay their upcoming bills and card statements, ensures they have the funds to meet their obligations on time, and leaves the rest to continue earning, per the release.

“We’re entering the age of self-driving finance: expenses that will do themselves, books that will close themselves, and money that will move itself,” Glyman said in the release.

Ramp said in April that it reached a valuation of $7.6 billion as it wound down a $150 million Series D-2 funding round.

Glyman said at the time in a blog post that the new funding would “allow us to triple down on the next wave of innovation to deliver much more value for our customers.”

“We’re just getting started as we help our customers create the finance function of the future,” Glyman wrote in the post.

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.