Corporate spend management is crucial for businesses of all sizes. With budgets getting tighter, companies need tools to track expenses, manage payments, and gain visibility into spending. Ramp and Expensify are two popular spend management platforms promising to deliver control and insights. But which one is the better choice for your business?
This comprehensive guide examines Ramp and Expensify’s key features, pros and cons, and ideal user profiles to help you determine the right platform.
Feature | Ramp | Expensify |
Virtual/Physical Cards | Yes – Ramp issues | Yes – Through commercial partners |
Expense Software | Web/mobile app with basic features | Complete expense management suite |
Receipt Scanning | Photo upload only | AI-powered OCR scanning |
Bill Pay | Yes – Built-in bill payment | Limited bill pay |
Reimbursements | Reimbursement as bill pay | Direct, integrated reimbursements |
Reporting | Standard reports | Custom reporting and exports |
Integrations | QuickBooks, Netsuite, Slack | Hundreds including NetSuite, SAP Concur, travel systems |
Rewards | 1.5% cashback and lounge access | None |
Ideal For | High-growth startups, Fintech, eCommerce | Companies with complex expenses and reporting needs |
Ultimately there is no “best” platform. Choose the spend management solution that aligns closest with your priorities and needs as a finance team. Both Ramp and Expensify can deliver immense value.
Ramp and Expensify take different approaches to managing corporate spend, from cards to software. Here’s a quick rundown of each platform:
Ramp positions itself as an all-in-one spend management platform. Key features include:
Ramp markets itself as a “finance automation platform” with cards, software, and bill pay unified.
Expensify specializes in expense management software with optional corporate card integration. Main features:
Expensify specializes in smart software with integrated card capabilities.
Also Read: Differences Between Revel And Lightspeed.
The core differences between the platforms come down to:
Ramp is built specifically to consolidate spend channels for high-growth and mid-market companies. Here are the key advantages and limitations of Ramp’s approach.
Ramp simplifies spend management for mid-market and enterprise, but the platform has limitations around customization and integrations compared to Expensify.
Also Read: Should You Choose Field Nation Or OnForce?
Expensify is designed for comprehensive expense management that integrates with your tech stack. Here are the highlights and drawbacks of Expensify.
Expensify has extensive capabilities around reporting and integrating expense data, but setup and customization takes more effort.
Ramp and Expensify each excel for different business use cases and company sizes.
Ramp shines when:
Ramp suits high-growth startups that want a streamlined spend platform with rewards. The product is simple by design.
Expensify is most valuable when:
Expensify has the expense management features and customization larger businesses need when expenses are complex. Also watch the video!
The main differences are Ramp provides corporate cards and consolidated billing along with basic expense software, while Expensify specializes in customizable expense reporting software with options to integrate cards.
Ramp and Brex offer similar consolidated spend management platforms with corporate cards optimized for startups. The main differences:
Ramp offers higher limits for bigger growth-stage companies.
Ramp has higher card rewards at 1.5% cashback.
Brex provides net terms on purchases.
Brex has more funding and valuation as an earlier startup.
Ramp positions itself as a finance automation platform.
Top alternatives similar to Expensify include:
SAP Concur – Robust expense reporting features and integrations.
Pleo – Combines expenses, cards, invoices, and bill pay.
Rydoo – Expense management with travel booking.
Certify – Specializes in travel expense reports.
All provide rich expense management, smart scanning, and reporting.
Expensify is worth it for larger businesses whose teams submit high volumes of expenses across travel, purchases, and corporate spending. The advanced reporting, custom fields, and integrations make Expensify valuable for complex expense use cases.
But for early-stage startups who just need basic expense tracking, the high Expensify cost may not justify the product’s depth.
Also Read: Differences Between Concur Professional And Standard.
So which spend management platform is better for your business Ramp or Expensify? Here are some key questions to help you decide:
For most startups and high-growth companies optimizing spend, Ramp provides the end-to-end platform and rewards they need. The simplicity and consolidated experience is key.
Mature businesses with more complex needs lean towards Expensify for customizable expense management. But Expensify requires more heavy lifting to set up and integrate.
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