Ramp Debuts AR Tool to Keep Finance Teams From Chasing Payments

Ramp is expanding beyond expense management into the world of revenue collection with its new Accounts Receivable (AR) tool. For retailers and service providers, this means the same platform used to manage employee spending can now handle outgoing customer invoices. The goal is to eliminate the manual 'chase' for payments that often bogs down small to mid-sized finance teams. The tool automates the creation and delivery of invoices while providing real-time tracking of who has paid and who is overdue. By integrating these functions, business owners get a clearer picture of their actual cash flow in one dashboard rather than jumping between accounting software and bank portals. This automation is designed to speed up the payment cycle, ensuring that money hits your account faster. While Ramp is traditionally known for its corporate cards, this move suggests a shift toward becoming an all-in-one financial operating system. For operators, this could mean reducing the headcount or hours dedicated to administrative follow-ups, allowing staff to focus on customer service and sales instead of data entry and collections calls.

Source: PYMNTS

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