New AI agents handle intake, vendor sourcing, compliance checks, and renewals for finance teams

NEW YORK, April 29, 2026 /PRNewswire/ — Ramp, the leading financial operations platform, today launched a fleet of AI agents that work together to run the buying process, triaging employee requests, sourcing vendors, reviewing contract terms, and handling compliance checks. The launch marks a significant expansion of Ramp’s procurement solution as the company continues to extend from managing spend to running the entire purchasing process – from source to payment.

Procurement-Grade Rigor, Without the Headcount
Dedicated procurement teams have always been a Fortune 500 advantage. Full departments drive savings, own critical vendor relationships, and make sure every dollar spent is intentional — applying a discipline that directly protects margin. But 98% of US businesses don’t have that capability in-house. When a 200-person company needs new HR software or a data platform, the “process” is usually multiple browser tabs, a series of AI chatbot queries, and a frustrated and overworked finance lead trying valiantly to parse it all to the best value-for-performance mix.

That gap is getting expensive, fast. AI adoption just crossed 50% of US businesses, and the average AI contract has jumped from $39,000 to over $500,000 in two years. Finance teams are signing the biggest deals of their careers on pricing models that didn’t exist last year. And they’re doing it with the same tools they had in 2021.

Ramp’s AI agents are a force multiplier for every company: running entire sourcing events, identifying compliance risks, and identifying savings opportunities. It runs on pricing data from millions of Ramp transactions, so a 200-person company walks into a negotiation with the same benchmark data a Fortune 500 would.

“The tools companies use to buy haven’t kept pace with the speed or sophistication of what they’re buying,” said Geoff Charles, Chief Product Officer at Ramp. “We built a purchasing platform where AI agents do the work. Finance teams can hire Ramp as an extension of their team to run purchasing end-to-end.”

Ramp Runs Purchasing. You Run Finance.
Every agent in the new platform is backed by anonymized pricing benchmarks and vendor data from Ramp, tailored to each customer’s business size, industry, and specific needs. Taken together, Ramp Procurement customers are saving an average of 16% annually on vendor costs and eliminating 46 hours per month of manual purchasing work.

Key benefits include:

• Natural Language Intake: Employees tell Ramp what they need in plain English. The agent asks context-aware follow-up questions, pre-fills the request form, and catches policy violations before anything hits an approver’s queue.
   
• Advanced Workflow Builder: A rebuilt workflow engine supports parallel approval paths, bidirectional integrations with CLM, TPRM, and ticketing tools, and AI-driven vendor evaluations. Customers are running their entire procurement process 3x faster than before.
   
• Agent-Run Due Diligence: AI agents conduct custom compliance checks for security, legal, and finance teams before a request reaches an approver, saving stakeholders approximately 2 hours of manual research per request.
   
• Renewal and Contract Intelligence: That AI contract ballooned from $39K to $500K in two years, and it’s up in 2 days. 90 days out, Ramp delivers the negotiation briefing: pricing benchmarks, Okta seat usage, user satisfaction signals, and flagged contract terms — so every renewal decision is instantly backed by data. 
• Zero-Touch Sourcing (Early Access): Describe the vendor you need. Ramp researches options, generates the RFx, collects vendor responses, scores them, and recommends a winner. Sourcing events that used to take weeks of research and coordination are compressed into a single conversation with Ramp.
   
• Full procurement reporting suite: Get end-to-end visibility into your spend and process. See every purchase from request to PO to payment. Ramp surfaces outstanding purchase orders, budget variance, and approval bottlenecks. If you need something specific, just ask in plain English and Ramp generates the report.

“This is the first step toward a fully autonomous back office,” said Charles. “Every company deserves procurement-grade rigor. Now they can have it — whether they have a procurement team or not.”

Learn more about Ramp Procurement at https://ramp.com/procurement.

About Ramp
Ramp is a financial operations platform designed to save companies time and money. Our all-in-one solution combines payments, corporate cards, vendor management, procurement, travel booking, and automated bookkeeping with built-in intelligence to maximize the impact of every dollar and hour spent. Over 50,000 customers, from family farms to space startups, have saved over $10 billion and 27.5 million hours with Ramp. Founded in 2019, Ramp powers over $100 billion in purchases annually. Learn more at www.ramp.com.

Contact
press@ramp.com

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SOURCE Ramp