How Ramp streamlined a repetitive process saving financial officers 80% on administrative time

Learn more about this partnership 👇

Some of the benefits Waivpay had from working with Taggun:

Some of the benefits Ramp got from working with Taggun:

The core OCR layer, with the ability to turn into text
The ability to read and extract key details from the receipt
Transcribe multiple languages for Global businesses

About RAMP

Ramp is the only Corporate card and expense management platform designed to help their customer spend less time and money by automating the finance administrative process. 

The Ramp platform empowers companies to issue their employee's unlimited cards (physical and virtual) with preapproved spend limits to automatically enforce their company policies. Customers can earn 1.5% cashback on every purchase, across all categories, Uncapped.

ramp’s Ambitions 

Ramps mission is to save companies their two most valuable resources; their employees time and investors' capital. 

Financial operators typically consolidate expenses through a repetitive 'line by line' process to collect receipts and close the books. Ramp’s ambitions were to help them automate this process and save time and money. 

Through Ramp, financial operators close their books around five times faster, saving days upon days of effort.

"Taggun’s OCR capabilities for the particular receipt use case that Ramp has are better than any other solution that we've found on the market. We did look at a few others, the difference is that all the other’s are for general purpose for example, documents and invoices whereas Taggun is excellent at the particular receipt OCR we require."

Calvin Lee, 

Ramp

Why Ramp chose to buy instead of build?

"We chose to work with Taggun because we felt that they did the receipt OCR better than we would have, particularly in the earlier stages of our business. Taggun had already collected an enormous database of receipts and their results were of a higher quality. 

By partnering with Taggun on the OCR component, Ramp was able to focus our internal efforts on activities that made our business truly unique. ” 

– Calvin Lee, Ramp

Ramp's Platform

Journey 🛩

Ramp takes a receipt, texted by an employee and matches it to the correct transaction, saving 80% administrative time.:

• Finance set up expense policies on the ramp platform, in this case, they want receipts on everything above $75. 

• Employee receives a Ramp card from their company expense team, and the card is governed by that expense policy from step one. 

• Employee makes a transaction on that card that is above the threshold that requires a receipt. In this specific case $75 or more. 

• The Ramp policy engine immediately sends the employee a text prompting them to upload the receipt. 

• The employee replies to that text message with a photo of their receipt. 

• Ramp employs Taggun’s receipt OCR to extract the text from the receipt. 

• Ramp’s receipt matcher takes the text and matches it to the correct transaction so that the receipt is matched with only one text from the employee.

Custom AI Models 🤖

TAGGUN PRE-BUILT MODELS TO EXTRACT:

• Retailer name 

• Retailer address, city and country 

• Receipt date and time 

• Tax, total amounts and currency

We are excited to build something awesome with you 🚀

Get in touch with us 👇

Email us on [email protected] or

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