App Showdown - All in One Spend Management:Ramp vs. Corpay One - QB Power Hour Podcast

Episode Transcript
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Dan DeLong (00:00):
Welcome everybody to another QB Power Hour.

(00:03):
My name's Dan Long, DanwidthSchool of Bookkeeping.
Worked attu it for nearly 18years and co-hosting today.
Also at few the workshopWednesdays over at school
bookkeeping do com andunfortunately, Matthew's not
joining us again today.
We, uh, wish him all the best,uh for, his, uh, speedy cover

(00:26):
here.
So I am flying a solo today.
Sort of.
I do have a panelist joining usfrom one of the platforms, uh,
today.
Uh, Nigel is joining us fromramp.
Uh, Nigel, do you wanna, uh,kind of introduce yourself to
the folks and we'll take thingsoff.

Nigel Reiff (00:47):
Absolutely.
Dan, thank you so much forhaving me on the webinar today.
Super excited to get to talk alittle bit more about RAMP and
some other kind of expensemanagement and AP platform tools
that work really well with QBO.
But just to introduce myself, myname is Nigel.
I'm a solutions consultant hereat Ramps.
You can think of me kind of asyour technical expert.
Happy to dive into the weeds ofthe product.

(01:09):
And my background at least is inERP and FP and a tool
implementations before coming toramp.
So I've been in the accountingsoftware space for quite a
while, but super excited to behere today, uh, and have some,
some great discussions.

Dan DeLong (01:24):
Thanks again, uh, for joining us.
So just a little bit about theQB Power Hour Web series.
If you're just joining us forthe first time.
Or it's every Tuesday at noonEastern and are eligible for CPE
credit through, uh, earmark.
There's a link there for the,uh, channel on the earmark app.

(01:45):
Courses are typically they'renot live CPE, so the courses
will be available typicallyabout a week after a live
session.
And of course you have, um, thelinks there for, uh, the QB
power hour resources for PDFs ofthe slides of, existing and past

(02:07):
webinars that we've had, as wellas the recordings and podcasts
audio.
Great.
And so today we're gonna talk alittle bit about we always start
off with a little Intuit newsand, um, it's very fitting.
I guess that our, our news todayis something that we talked
about, not just a month ago, uh,that expense claims in

(02:29):
QuickBooks Online is gone.
So, uh, we'll talk a little bitabout that and then, we'll we,
this is, this particular, uh,webinar is kind of a follow up
from one that we did a month agowhere we talk about the spending
managing money out inside ofQuickBooks online and what

(02:51):
features and, and functions thatyou can do in there.
And like most things withQuickBooks, it is one of those
things where if hit the ceilingof what you can do inside of
QuickBooks, then it becomes thequestion or the, the task is
what else is out there thatworks with QuickBooks.

(03:13):
So since we did kind of thewhole money out, topics month
ago.
We wanted to do our very firstapp showdown in which we, we
talk about similar apps that areout there to side by side

(03:34):
comparison.
So we appreciate Nigel from RAMPjoining us here today, being
open to talking about otherplatforms, which is, kind of a
unique circumstance.
A lot of times when we havesponsors and, and that come on
the, that could be Power Hour.

(03:55):
Talking about other apps is, uh,is a little bit of a challenge
you know, to kind of navigate,uh, that during the webinar.
So here we are actually doingkind of like a thunderdome where
two apps enter, and thenhopefully by the end of the, the
webinar today, you may seeadvantages of either or maybe

(04:16):
pick one over the other.
For for recommendations to your,to you or your clients.
So we are gonna talk about when,when a platform is needed inside
of things that are necessary,that kind of workflows, that
kind of drive that.
And then really just kind oftalking about ramp versus Corpay

(04:41):
one in this particular instancewhere we'll talk about some of
the feature comparisons, pricingcomparison, because that's
always on most of our minds ashow much is this gonna cost me,
how my client and then thedevil's always in the details as
far as the QuickBooksintegration part of that, you
know, how these things show upor not inside QuickBooks.

(05:04):
And then if you are a, anaccountant or open to revenue
share, what does that look likeas far as their accountant
partnership?
We'll, uh, that's a high leveloverview.
So, uh, like I said, we did aprior session with regards to
spend management.
So there's a link for that ifyou wanna kind of see the core

(05:26):
functions.
But as we're gonna mention here,uh, well, poof, the expense
claim just kind of went awaywithout little fanfare.
And this is, this is really whatit boil, kind of what it boils
down to when it comes to, youknow, one of the poll questions
that we had during that webinarwas, you know, have you, what is

(05:50):
your experience with, withexpense claims?
And one of the answers was, oh,well I'm hearing about it for
the first time.
Um and, that was, um, probablythe, most common response.
And this is one of those things,just like when we talked about.
Tags and the changes with, withtags inside of QuickBooks online

(06:10):
is if we don't if we don't useit, uh, we are gonna lose it.
So this is one of those thingswhere it really didn't have a
lot of users using it.
Part partially because it wasonly available inside of
QuickBooks Online Advanced.
So that kind of turned, uh, atthis is where one of those

(06:32):
things where it it just didn'twork out for that kind of
feature or function.
It was, as we kind of talkedabout before, it was, uh, pretty
limited.
And then, you know, again, youonly had it inside of QuickBooks
Online Advanced, so it, was avery small segment of people

(06:54):
that could use it.
And then subsequently, um.
Because of the limitations of,of the features and, and
functions of that, uh, it justdidn't get a whole lot of
adoption.
So let's start off with ourfirst polling question.
As far as what version ofQuickBooks do you support for

(07:14):
you and your clients?
So while the people are, areanswering Nigel, um, have you,
you know, with, with regards to,ramp, how do, you communicate
changes to the platform andthings like that where, there
are, you know, maybe featuresthat are added or like with

(07:37):
QuickBooks maybe taken away.

Yeah, absolutely.
We, especially with ourpartners, we keep them very up
to date with regular monthlynewsletters of new features that
are coming out, things that maybe deprecated, but that's on a
rare basis to make sure ourpartners are well-informed with
exactly what is coming out, newand ramp, what's changing.
And as well, we love to givethem an idea of our roadmap so

(08:03):
they have an idea of in the nextthree months, what they can
expect in the next six months,what our plan is.
Um, so making sure that they'reup to date with current releases
as well as our planned, uh,roadmap as well, so that way
they know exactly what Ramp'sgonna have to offer.

Dan DeLong (08:19):
Well, that's, that's good to know that, you won't
just log in one day.
Expense claims are, missingfrom, from ramp without some
kind of notification.
Exactly.

And it is a fast moving product.
We, we update regularly.
Last year we were had over 300product releases and updates.
So we, we certainly continue topush the envelope with the
capabilities of RAMP and makingsure our partners are well
informed with that is a, a hugecomponent of it.
So yeah, regular newslettersworking with, uh, your

(08:54):
relationship lead at RAMP iskey.
We love to set up quarterlymeetings as well to discuss new
enhancements and how that can beincorporated into processes.
So yeah, we love to be, uh, veryclose with our partners, making
sure that they're well informed.

Dan DeLong (09:11):
So appreciate that.
So yeah, it looks like mostfolks are using, uh, both
QuickBooks online and, uh, anddesktop today, uh, followed
closely.
Let me just share the resultshere.
Looks quickBooks online only isabout 24%, and holding steady at
about 5% is, uh, desktop.

(09:32):
So stop sharing there and moveon.
All right, so let's, um, let'stalk a little bit about when a
spending platform is, needed.
This is typically when you'regonna see the bump up to the top
of, of the capabilities orfunctionalities of QuickBooks

(09:52):
and where you kind of lookoutside of the QuickBooks
ecosystem or the back.
Uh, so some of the limitationsthat are in QuickBooks, and we
kind of mentioned those a littlebit earlier, uh, expense claim
when it comes to expense claimsand reimbursements, it was,
advanced only and no longeravailable.

(10:13):
So if you need.
Functionality of expense claimsand reimbursements, you are
gonna need to look elsewherebecause there isn't any version
of QuickBooks.
That, and of course in desktopit doesn't, do that either.
And then when it comes to withQuickBooks, uh, or with Bill

(10:33):
pay, with the online bill, payfunctions, approvals are gonna
be best suited inside of advancebecause you have a high user
limit to be able to, managethose users.
Because there are prebuilt rolesthat are, built in with the
QuickBooks bill Pay service.

(10:55):
And those roles are going totake up space, right?
So if you're in QuickBooksOnline plus where you only have
five, one of those is a billpayer and one of those Bill
Prover, and one of those is abill clerk, right?
Where they're entering in thebills.
Now you've taken up three spacesof your five just for those

(11:18):
specific roles.
And in those roles, you, don'thave the ability to combine
roles and access in QuickBooks,plus where you can kind of comb
through a lot of those, a lot ofthose roles where in advance you

(11:38):
have a little bit granularitywith allowing certain areas and
certain functions within variousother roles.
It's best with, regards toQuickBooks bill pay to utilize
advanced for those for thosefeatures because you're gonna
have those roles and, uh, thenumber of roles available there.

(12:00):
And then other versions you endup having, you know, limited
features and those limited rolesand users.
And then.
We all like oversight andcontrol.
And when that becomes part ofthe, the workflow or the
conversation where it comes tospending limitations, whether
it's a pay, a certain payee,certain amount or a certain

(12:25):
category and approvals to beable to do those those types of
things.
And then the policies that, thatare built in to the to where
these where these workflows areactually stemming, from is if
you have those those policiesthat are necessary, if, if, if

(12:50):
it's over a certain dollaramount, we require approval or
at least something in a receiptor, or you know, things of those
natures.
And then the last thing is, is.
Adoption of the technology,which oftentimes is a, is a
barrier, right?
So if you add another app to,the guys that are out in the

(13:13):
field purchasing, you know,using the the, company credit
card to purchase job suppliesand making sure that they
include the receipt or do thethings that, you know, adopting
the technology into theirworkflow, you know, or their
regular workflow is aconsideration or concern where,

(13:38):
they're already using theQuickBooks mobile app it's a lot
easier to adopt that technologyas opposed to adding another,
uh, mobile app to their, intotheir mix.
So let's, uh, quickly start offwith the second poll question,
and does your firm.

(13:59):
Commend workflow improvementsoftware to your clients.
Sometimes it's just, you know,you're, you're in your zone.
If, uh, if you do have comeacross a new software platform
or something like that, do yourecommend to, your clients as a
part of your, like, advisoryservices.

(14:24):
While you're answering that,let's go ahead and just kind of
press on here to our app, firstapp Showdown.
I should have like a, someentrance music or something,
something like that, where wehave this thunderdome type of
thing, but, all right, so let'stalk about the things and, uh,
Nigel, I want you to keep mehonest here.

(14:47):
As far as the, futuresimilarities.
And then we'll of course getinto the differences, uh,
between the two.
But the, similarities, thethings that are the same is that
most, and if not all billpayment platforms, spend
management platforms are gonnahave some core features and,

(15:08):
technology that are, verysimilar, right?
The ability to import billsthrough OCR, which is, uh,
optical character recognition, Ithink that's what it stands,
which is a technology that turnsimages or text on images into
data, right?
And all of them are gonna have,some kind of, both of them are

(15:31):
gonna have some email forwardingcapabilities where you specific
email address you're able toforward from your own email, or
they can your suppliers can, youknow, forward it directly.
To that email so that the systemor the platform is gonna be able

(15:55):
to scrape off that informationand then to turn that into its
data that's usable by theplatform file upload.
Of course, if you have fileattachment, you can take that
file and place it into theplatform so that it does that as

(16:15):
well.
So you don't necessarily have toforward an email.
And then you're also gonna beable to synchronize that from
QuickBooks.
So if you've already got a billor something like that inside of
QBO, uh, you'll be able toimport that into, QuickBooks,
or, I'm sorry, into the, intothe platform.
And then you're gonna have somekind of aspect of a virtual

(16:38):
card, right?
Where you can kind of spin up apayment card to be able to put
that payment card into.
Your online billing information,right?
So that, you know, one of thosethings to be able to do that,
you know, to be able to pay forthose things.

(16:58):
And especially if it's a one-offsituation.
And, uh, when I was at, I'mtrying to remember if it was,
uh, scaling New Heights or if itwas, into a connect where I was
talking or went to a breakoutsession and they were talking
about how they use virtual cardsto manage pricing, right?

(17:22):
So like they were able to createa virtual card for each
individual, uh, thing that theywere spending for.
And Nigel does RAMP have alimitation on the number of
virtual cards that you're ableto create.

No.
And yeah, I was gonna jump inthere to talk a little bit more
about virtual cards, but withRAMP EV employees can be
provided as many virtual cardsas desired, and we like to think
of virtual cards more so beinglike an allocated budget or
funds that can be utilized forspecific spending situations.
Right.
So like you pointed out, a greatexample is I've got, you know,

(18:00):
my Microsoft subscription, I'vegot.
Got my Salesforce subscription,I wanna make sure I'm managing
those payments effectively.
I can create one virtual cardthat does all of those, and I
can even lock it down withinRAMP to say, this card can only
be spent at Microsoft, atSalesforce, anywhere else
automatically declines.
Or I can create, you know, onevirtual card for each of those.

(18:21):
And you can set up budgets aswell to say it should only be
able to have, you know,$5,000spent per month, which may be
equal to one of yoursubscription amounts.
And that way if you end upgetting, you know, price
increases from vendors withoutbeing made aware or they
accidentally double bill youramp can help you negate that
from occurring and, and preventit from happening and not have

(18:42):
to deal with it retroactively.
Yeah, so definitely lots that wecould dive into with, with
virtual cards and thecapabilities there.
But the key kind of takeawayfrom it is it's an allocated
budget that has specificspending controls, uh,
established within it thatdictates how much and where
those cards can be spent.

Dan DeLong (19:02):
And the, uh, was that, you know, like, they did a
example of, okay, we're our,utility bill or, or something,
you know, a phone, phone bill,which is, oftentimes it just

(19:22):
increases without your awarenessto it, right?
So by being able to put thosecontrols on one particular card,
a virtual card, rather than aphysical card and put that as
their payment method, when thosethings happen.
And, there's a spike in, in, myin my, my phone bill and, uh.

(19:51):
That will actually trigger analert, or the card itself would
actually be decline, right?
And then they'll get, thenthat'll get attention, right?
Like once you've got, um, aninforma, you know, an email like
that coming into your inbox,like, Hey, we're gonna turn off
your phones if you don't paythis, or something like that

(20:11):
will actually allow them tocontrol their spending when
those things actually increase,and at least get to the bottom
of why did, why did it increase?
And then of course, they canincrease the, uh, the amount and
push it through again.
Can go through.

Yeah, exactly.
And another like great exampletoo with that of, like you said,
controlling our subscriptions,make sure we're not seeing any
fluctuations in pricing wedidn't expect, but also, right,
I'm giving this virtual cardinformation to this vendor.
They have the credit card numberand unfortunately data leaks
happen.
And as much as we wanna try andavoid them, we need to make sure
we're prepared to handle thoseeffectively.

(20:50):
And like we've said of bylocking down this card saying it
can only be used at, you know,my specific cell provider or you
know, like we've used Microsoftor Salesforce, if there happens
to be a data leak, that cardinformation gets into nefarious
hands, they can't spend itanywhere.
It's locks down to just thosespecific vendors.
So we're helping to preventfraud from occurring rather than

(21:10):
identifying it and now having toaddress it.
We're preventing it from evengetting into your system and
having that spend ever go out.
So it can be huge in that usecase as well.

Dan DeLong (21:20):
Now, um, question from rich there in the in chat,
and it goes to the next thing iswhat are spending cards versus
credit cards?
Now these are, uh, both of themare MasterCard, right?
They can be used Square or isyour Visa, I'm sorry if I
misspoke.
Visa is, right.
Okay.

(21:40):
Yeah.
The RAMP uses v the Visanetwork, and JPay actually uses
the MasterCard.
So they are accepted anywherethat those are accepted.
So Visa, MasterCard, pretty mucheverywhere.
But they are not credit cards inthe sense that you want to carry

(22:02):
a balance.
I found this out the hard waywith, uh, with GoPay that they
were not credit cards, eventhough they have the the
MasterCard logo on them.
It was just not.
Clear initially, and that's oneof the things that I wanna be
clear about, is that these arespending cards very similar to

(22:23):
like, uh, American Express,where, you know you, there is a
a, spending amount or limit thatyou can put on there in a
billing cycle, but you want to,pay that the, entire balance.
You do not want to carry abalance from from month to month

(22:43):
because the fees that areassociated with that are pretty
high.
So these are, you know, keepthese in mind that these are
spending cards.
So they will give you you know,a little bit ease on the cash
flow situation because you'll beable to use them as, credit
cards.
They will, go into the, to themonthly statement, but you wanna

(23:06):
make sure that you pay thatbalance off at the end of your
statement.
And, um, I'll just, uh, kind ofask you.
Put in automatic to pay those,those things as part, of your,
setup.
Right,

exactly.
So Dan, I think you hit itperfectly on the head of, while
you do kind of build up a, astatement balance over the month
you do then pay it off at theend of every month.
So you're not carrying thatbalance from month to month,
accruing interest on it.
Were not built to function inthat way.
So that, that's really the coredifference.
So credit cards you can thinkof, I can hold that balance and

(23:46):
just keep it month over monthand pay interest on it, like I'm
borrowing funds, uh, versus rampis at the end of each month.
I'm just paying off that balancethat I owe.

Dan DeLong (23:56):
No, and that's also similar to, uh, Corpay one as
well.
Um, and as we had talked, youknow, there's limits that you
can put on the, on the cardspending to users, whether it's,
specific payee or specificcategories of, of payments.
And then as we talk about someof the differences we'll kind of

(24:17):
talk about what you can do withthose limitations.
Both of them are gonna have a,an accountant with a client
dashboard where very similar tolike QuickBook online where you,
where you see your practice oryour firm, to all of your
clients.
From there online bill pay isis, similar.

(24:39):
Being able to, uh, send checksor send, send the online, online
bill pay functionality, and thenthe card management as well as
employee reimbursement whenthey're using their own card to
be able to purchase, billingpurchase, materials or job

(25:01):
supplies for for the, company.
Both of those will have theoptionality as well.
And they, uh, both have theirown mobile application.
To manage these things eitherfor the company as well as the
in user, me as well.

(25:22):
Well, let's talk about a littlebit about the differences
between so when it comes to theOCR technology, the, the
document scanning, one of thethings that really impressed me
about RAMP is the ability formultiple line support.
So when you have, you know, a, areally big bill to be able to

(25:43):
import that, and then it'llautomatically segregate or
separate out the individual lineitems on the body of the, of the
invoice or the bill.
And then you, you can then mapthat to to individual lines as
well as being able to, what'sthe word I'm looking for?

(26:06):
Um.
Being able to, map to productsthat are in, your QuickBooks,
right?
So you can have that item levelmapping whereas Corpay one you
can split, uh, but you have todo that manually.
Mm-hmm.
So that's an extra, extra steps,uh, to be able to split things

(26:26):
out.
Exactly.

Yeah.
And just to add a little moredetail, we've had, our customers
have multiple hundreds of lineson their bills and have rent be
able to separate it out all forthem.
So Right.
Rather than having to click addline, enter the information, add
line, ramp's, gonna do all ofthat for you so you can come in
and just have kind of a quickreview rather than having to

(26:50):
actually be adding thatmanually.
So can certainly be asignificant time saver.

Dan DeLong (26:55):
And as far as, uh, recognizing the item or
category.
In, ramp, is it something likeif people, it will look for the
products and services and, mapto it if it does have an equal
thing?
Or do you the, do people need togo into the platform?

Yeah, so there, there's a couple different ways
that that can work.
First, if we're leveraging likea, a purchase order as well, we
wanna also have procurementwithin ramp and we connect that
purchase order to our bill andwe're establishing that
inventory item on the PO thatcan easily be translated, so
that way we do have that markedfor us.

(27:36):
With current, currently in ourproduct, we don't necessarily
pick out that, that specificinventory item for you and code
it if it's not on the po.
But where we're moving towards,and this is gonna be kind of
our, our next evolution of BillPay that we're coming out with
in just the next few months.
So it really should be one totwo months from now.

(27:56):
Is we're gonna be having an AIagent come in and that's going
to enhance the OCR capability.
So it's going to learn, oh,okay.
When this kind of invoice comesin and it lists out these
specific items, and we noticewe're coding those to specific
inventory items or expense itemsin QuickBooks, it'll
automatically start applyingthat for us.
So that's where we're movingtowards of having a, an

(28:17):
intuitive system that willunderstand that.
Um, but right now it's a littlebit more of, yeah, let's let
RAMP know through other parts ofour process and then that can
kind of automatically tag it forus.
Yeah.

Dan DeLong (28:29):
And um, one of the things, um, you know, um, the
second bullet here on, on rampas far as like the cutting edge
digital receipt management, whatI wanted to, I mean, that was a
long way to say, it, helps withfraud detection because
sometimes employees and theirreceipt submissions they might

(28:53):
be, um, overstepping.
I think that's probably the, thenicest way to say it.
Um, David Leary and Blake did a,an episode of How in AI can
basically generate a photorealistic receipt that looks

(29:14):
like, any, any place that you'vebeen to, right?
Like, you can take a depotreceipt or Walmart receipt and,
and, train AI to create areceipt that looks like maybe
there's coffee stain on it orit's wrinkled or, you know,

(29:35):
things like that.
And, and to the blind eye, itcould, definitely be something
that you, you might just letflip through because it looks
like it.
And they were mentioning duringduring the accounting podcast,
that ramp has already.
This was like a couple monthsago, like RAMP had already

(29:56):
implemented, in being able todetect those things.
Talk a little bit about

Yeah.
It, it is crazy, right?
We, we've been talking about AIof all the, the help that's
gonna provide us the advancedcapabilities.
Now we have offered, but thatalso comes on the other end of,
ooh, it's gonna provide maybesome problems for us, some
headaches, some some differentways that people are trying to
gain the system with it.
And like you said, Dan, it's AIreceipts have been something

(30:25):
that has now become a problem ofhow is a manager gonna know
that, like, it, it looks like aperfectly good receipt based on
what the employee sent, but canbe a completely, uh, fake
charge.
So what Ramps able to do isbasically.
Able to view kind of the backendof the receipt, the actual file
information, and there's keyinformation within there that

(30:48):
helps us be aware of when it'sAI generated.
Um, so we've, like you said,have kind of started to lead
the, the industry in coming upwith that capability and almost
getting ahead of it before itbecomes this massive problem,
understanding that this issomething that is going to
occur.
So let's get ahead of it andprovide the protections for our
customers.
So, so they're not fallingvictim to it.

Dan DeLong (31:10):
Yeah, that, I mean, it's very impressive when I
heard that, that not only is ita problem, but you, guys have
already taken steps to get aheadof that because, you know, AI
is.
My Dan analogy of, AI is, it'san enhancer.
It's like alcohol, right?
If you're a jerk and you drinkalcohol, you're just gonna be a

(31:33):
bigger jerk.
If you're, if you're a friendlyperson and you drink alcohol,
you just become more jolly andfriendly.
So it's, it's one of thosethings that if you are nefarious
to begin with AI is only gonnahelp you be more, more of that.
If you are, you know, utilizingAI for good, right?

(31:55):
Then it will continue to dothose things.
Exactly.
Another thing that it does kindof gives a nod or a difference
to, ramp is the additionalfeatures being able to put in or
help.
It helps you create, uh, yourpolicy as far as your spending
policy and What What is requiredof the individuals that are,

(32:20):
that are using it.
And then you also have, uh,travel, options.
You wanna talk a little bitabout, uh, those, those things
there?

Yeah, absolutely.
I mean, this is keeper businessof setting up what their policy
is and how you wanna enforceexpenses, bills, and travel.
Uh, and RAMP helps to ingestthat and then enforce it for
you.
So whether it's as employees arebooking travel, they're made
aware right, of way of what isin and out of policy, whether
it's flight prices to differentclasses of tickets, right?

(32:49):
Business class versus economyclass.
What do we allow depending onthe the, duration of the flight,
how that fluctuates, um, howearly we like to have flights
booked.
Do we let our team members book,you know, a few days before?
Do we require two weeks before?
Same thing with hotels and cars,right?
Of.
Being able to help guide theminto what's in and out of policy

(33:10):
so we're not having toretroactively review and make
sure they're doing the rightthing.
Ramp's helping to guide themthrough that.
Um, and then where we're movingtowards too as well, and, and
we're gonna be diving into thisin, in future slides too, but is
right the, again, these AIagents that we're building into
the platform.
And what we're starting with isour approval agent.
And what this does is it canread, understand, and enforce

(33:33):
that policy, what we're findingis better than the actual
managers who usually arereviewing transactions.
So ramp's able to, uh,intuitively and very smartly.
Be able to review transactionsand understand if they fall in
and out of policy and flag itreject transactions for our team
members and be that first linereviewer instead of managers.

(33:55):
Right?
So helping to take off some ofthat, that time commitment of
just reviewing things and notalways knowing is this in and
out of policy?
And just saying, sure.
Review it anyway.
Ramp's gonna help enforce thateven more cleanly.
Um.
And also as it does that, and itlearns, you know, what employees
are doing and, and how managerssaying if this should or should
not be included, it can start toautomatically update your

(34:18):
expense policy to reflect thatfor you.
So it can continue to enhanceyour policy, which then allows
it to better enforce it as itgoes.
So it's kind of a, a dual systemof let's enforce it and make
sure things are staying in linewith what we've determined is
acceptable, as well as let'scontinue to improve it as we see
what is being allowed and notallowed, how can we continue to
refine it to make it evenstronger?

(34:38):
So that's kind of how we like tothink about this agent, uh,
within RAMP that helps toaccomplish this for you.

Dan DeLong (34:45):
Yeah.
We're,

we're

Dan DeLong (34:46):
learning a new term called Ag Agentic ai, which as
we talk about inside ofQuickBooks with the AI agents,
I'm sure other platforms likeyourself and others are, using
those tools internally to beable to enhance their own, their
own part.

(35:07):
One of the things that.
Gives the, nod to, copay is theability to auto push
transactions to QBL.
It's a double-edged sword,right?
Like you can you, are gonna bemanaging the the rules and the
workflows inside of the,platform.
And you have to be specific toevery every workflow as far as a

(35:32):
categorization, automaticcategorization of transactions.
And, it will push thosetransactions into, QuickBooks
without your interaction.
And we'll talk about that whenwe get to, the, the QuickBooks
integration piece.
But GoPay one does allow that tooccur so you can kind of,

(35:57):
automate those things.
But that's.
Things get a little bit morecomplicated.
You're gonna wanna have thoseoversights anyway, and it is
something that you're probablygonna need to review on a, on a
regular basis, whether it's youor client.
So let's talk about pricing,because we all wanna know how
much is this costing, right?

(36:19):
So with ramp, uh, the platformitself, especially for QBO, uh,
I mean, you have a, you have aplan called free that sounds
very enticing.
And for QuickBooks Online, it isfor the core offering.
And the core feature set, uh, itis free.
And one thing that is, uh,different, I think with, uh, you

(36:44):
know, a unique descripdistinction of brand is that it
is completely free, uh, when itcomes to.
The transactional fees, likemost most other, especially the
bill pays is uh, you know,depending on how you pay those
bills, whether it's a CH sameday, aach h checks or what have

(37:04):
you, there's a, there's a pertransactional fee, with when it
comes to that.
But it's not so with regards to,uh, to ramp uh, gel.
Exactly.

So like you had said, when you're leveraging
like a QuickBooks onlineintegration, you're able to
utilize RAMP completely free, nouser charge, no transaction
fees, whether it's cards andbill pay.
So a CH is checks zerotransaction fees on all of
those.
And there's even capabilities toutilize to, to waive any types
of transaction fees like sameday ACHs or domestic and

(37:41):
international wires, whichusually carry fees.
If you utilize one of our toolscalled a RAMP treasury account,
basically being a high yieldchecking account that's managed
within ramp, you can waive allof those fees.
So now from checks tointernational wires, all of it,
completely free transactionswhen being able to leverage ramp
so can certainly be an awesomeoffering.

(38:01):
And like we said, especiallythese businesses that are on QBO
and we just want an advancedplatform.
Ramp offers a totally freeversion for you to be able to
utilize.

Dan DeLong (38:11):
And, uh, now if you are using desktop that does, you
know, indicate, uh, you know,there isn't a free option or for
that, you have to use the plusin order to integrate with that.
You also integrate with otheraccounting platforms at that
level, NetSuite and other,platforms as well.

(38:31):
But if you are using desktop,you do have the desktop
integration plus is$15 per userper month, but you still don't
have the transactional fees on,on top of that.
Then other features that arepart of the plus level is being
able to auto lock.
Some card spend, so you can setup things to be able to

(38:53):
automatically, you know, turnoff the card parallel approvers,
so to, to avoid a bottleneck.
So you can go to either orindividuals, advanced routing
where it's automatically.
Tell me about that because I, Iwasn't quite sure exactly what
advanced routing actually uh,is.

Yeah, so with our approvals when you're on the
free version, it's mainly likebased on different amounts or I
can just set up, you know, basicapproval workflows.
If when a transaction comesthrough, make sure this person
reviews it.
But with more advanced routing,we can do it based on the
specific vendor that'stransacted with.
And this can be card or bill paytransactions.
We can route it to specificindividuals or even based on how

(39:37):
we code line items in the field.
So if we're leveraging, right,like our QuickBooks department
or QuickBooks class fields, aswe're coding line items based on
how we enter that informationin, we can route approval.
So it can say, Ooh, let's go tothis department head to approve
the transaction, or let's go tothis location leader to approve
the transaction.
So we can get really granularwith the, either the

(39:59):
transactional information or theuser who's submitting that
transaction.
We can route that that, thatapproval accordingly.
Uh, and it can be conditionedof, if it's this department and
it's over a certain thresholdamount, right?
We, we can start to kind of addon multiple conditions to create
a specific approval workflow wewant.
So you can just get reallyadvanced and really granular

(40:21):
with how approvals can flow whenyou're utilizing Plus.

Dan DeLong (40:25):
Got it.
And then of course, there's notransactional fees.
And then on the card spend youhave a one to one and a half
hatchback.
And, is it basically as astatement credit, or how does
that does that get awarded?
In in Ramps

speech?

Dan DeLong (40:43):
Yeah.

Yeah.
So.
We like to promote as being muchmore simple, right?
We don't have this certaincashback here on certain types
of spend versus points here.
And we, and not having that kindof point amount be fluctuating
of, you know, companies can nowstart devaluing your points that
you thought that you had and nowit's worth even less.
So we go the back route.

(41:05):
But how you can utilize that acouple different ways.
The first couple options are ifyou want to use it to make ramp
even cheaper, you can use ittowards your statement payment.
So instead of having to pay thatfull amount, you can utilize any
of your cash back to helpminimize what you're actually
gonna owe back on that card.
You can also use it to pay forramp plus.
So if you are leveraging ourplus platform, you can use your

(41:27):
statement credits to build ittowards your plus payment.
Um, or instead you can also justpull gift cards for different
types of vendors, whether it'sairlines, hotels, um, and even
restaurants and, and coffeeshops.
You can pull or you can cash in.
Your cash back, four differentgift cards that you can use for
company events that you candistribute to employees, however

(41:49):
you would like to have itutilized.
So a lot of different ways thatyou can leverage that ramp cash
back.

Dan DeLong (41:54):
Excellent.
And then, uh, we have a, aquestion in the q and a and I
built, this is a good place toask that.
They, uh, you know, because bothof these platforms, in order to
get the most out of the cardspend is to transition to, the
spending card, right?
So to be able to do those thoselimits and those types of

(42:17):
things, being able to do thatrequires the company to apply
and change their, their.
The card that they're actuallyutilizing.
Uh, so they bring up a very goodpoint because they will have a
variety of, different rewards.
And in this particular case,it's, uh, flight miles and, word

(42:39):
points for Southwest, right?
So if they move to one of theseplatforms where it's simple
simple enough for, for ramp andit's a little bit more
complicated with, with regardsto, to Corpay depending on what
it is that they're spending on,uh how does that equate to those
different types of rewards thatmaybe they know and like with

(43:02):
their current card that they,maybe they would be losing
loyalty points or flight milesor, things like that?

Yeah, absolutely.
It's a, it's a great questiontoo.
And RAMP certainly knows thatthat's a very valuable component
of, of credit cards, is gettingsome of those reward points that
we can utilize.
So, like we said with, with thecash back that you get, I can
use that for cashing it in atSouthwest Airlines, uh, and so
on by, by, purchasing eithergift cards or miles through our,

(43:32):
our kind of redemption or, orcashback platform of where you
actually want to, to pull thatcash back from, or how you wanna
redeem it, I should say.
But it, it, it is a little bitdifferent over, right?
Ramps focus is what we wannagive you those rewards.
Our goal is to, instead of.
Incentivize or reward you forspending, we want to actually

(43:52):
help you control and minimizeyour spending.
So how can we find ways for youto cut costs, whether it's do
things like our priceintelligence tool that helps you
understand the subscriptionsyou're paying for if you're
paying above market prices andtell you that and help you
renegotiate to, like we said,policy enforcement, making sure
that any spend that's occurringis actually legitimate worthy

(44:14):
spend, um, and allowing RAMP tobe that police force for you.
So we're, we are focused on moreso saving money than fully kind
of maximizing rewards.
And, our, our rewards is basedon the business as a whole
rather than kind of anindividual card cardholder to.

Dan DeLong (44:29):
So you may lose the admirals club or the airport
lounge, uh, access, uh, but themoney that you're saving or, uh,
allowing it to come back.
You, it may be a wash, right?
That's right.
So you might be able to,

that's the goal.
We wanna help you grow yourbusiness, right.
Cut costs and grow.
And now you're gonna be gettingfar greater returns than just
simple credit card points that Ithink people, it is certainly is
nice.
I like my credit card pointstoo, but when we're, we're
talking about the opportunitywith growing your business,
that's where RAMP wants to, leanin and help you accomplish that.

(45:06):
And now then you'll, you'll haveplenty of money for, your, uh,
your lounges and, and airlinetoo.

Dan DeLong (45:13):
Exactly.
Now Corpay, uh, the pricing isvastly different, right?
So they have no platform or, oruser fees as long as you're
using it with the card, right?
So if you sign up for it, just abill pay.
Option.
There's, typically a platformfee based on the documents that
are processed.

(45:35):
That gets very granular, uh,when it comes to, that like, uh,
it's tiered based on volume.
And it's also important to notethat things pulled out of
QuickBooks that, that show up inin the, Corpay one platform are
considered the document, right?
So if you're paying 50 centseach and it brings in, you know,

(45:59):
a whole bunch of bills that youentered in manually or batch
imported into, into QuickBooks,that can get pretty pricey
pretty quickly, even if you'reon comparing that to like Ramp
Plus where maybe you have fiveusers that's 75 a month, right?
So it could add up to thatpretty quickly, even without the
per user fee.

(46:21):
And then of course they are inthe model of the transactional
fees, so they are less than someof the other folks that are,
that are out there when it comesto the transactional fees.
But there Ill still is atransactional fee for a CH
dollar per check.
The, faster then there's fees ontop of that as well.

(46:44):
Now, with regards to therewards, their platform is a
little bit differently wherethey have 1% on all spending.
It is a well, copay one was justacquired while, just was several
years ago.
Uh, they were acquired byFleetCor, which is a fuel card
company, right?

(47:05):
So they, they are now puttingthat emphasis on fleet fuel
cards so you get more for fuel.
So if you are if you're in acompany that has a large fleet
of vehicles, this, will give youa little bit more on that as

(47:25):
well as travel for restaurantsin network as well as hotel as
well.
I did wanna note there that Idid see that it's$20 maximum for
the five, 5% on, on hotels,with, uh, but everything after
that is, goes to that 1%, right?
So if it is a hotel that thatwould give you more than$20, it

(47:50):
caps it up at$20 and theneverything over that, that 1%.
Alright, so let's talk about theQuickBooks integration.
So you have the ability in, rampand Corpay to vendor
synchronization.
So being able to pull in yoursuppliers and vendors from your
QuickBooks, you don't have toreenter all of that.

(48:13):
With regards to the, the cards,with multiple cardholders and
with all these virtual cards, itwould get very cumbersome to
manage all of those accounts,separate accounts inside of,
QuickBooks.
So with both platforms, you haveone, one QB account to manage

(48:34):
all of the cards, right?
Um, the synchronization between,uh, the two platforms is going
to put all the carding, uh, thecard transactions into one
account inside of QuickBooks.
So you won't have one, you won'thave that.
Balance issue when it comes towhat's at the bank versus what's
in the account because you don'thave that parent-child

(48:58):
relationship inside of yourQuickBooks chart of accounts
where your payments are comingout of one the, parent account
and the charges are, are on theother.
So you don't have to try toreconcile all of those inside of
QuickBooks.
So it's just one account for allcards being mapped.
You have the ramp has theability to do product service

(49:21):
mapping.
Uh, being able to identify andpush bills to QuickBooks so that
it actually, um, does go to theproduct.
And, talk a little bit aboutthat, Nigel, as far as being
able to map to a particularproduct or service.

(49:43):
Does it, does it see that, orhow does it, how does that work?

Yeah, exactly.
So we're able to pull in thatinformation from QuickBooks so
that way we can apply it todifferent transactions.
That way as it flows back over,we're able to have it, the
expense or the, um, that productservice appropriately kind of
contributed.
So that way we can have fullreporting capabilities on it.
So yeah, we're able to pull in alot of information from

(50:09):
QuickBooks so that way we're notminimizing the capabilities of,
of what information we wannainclude on our transactions.

Dan DeLong (50:18):
And then there's no reliance of the bank feeds in
either platform.
So as a matter of fact you,can't even find the financial
institution when you try toconnect it.
So good news, it won't break.
So it won't dis disconnect, uh,because you're connecting it

(50:39):
from inside of the platform asopposed to connecting it through
the bank feed, you know, puttingin your.
Login information and thosetypes of things so they won't
forget your login which is good.
Double-edged sword there.
With ramp, all integration andsync must start from the
platform.
And we kind of mentioned this alittle bit earlier, that in

(51:02):
order to push a transaction fromRAMP into, synchronize it into
QuickBooks, uh, you have toacknowledge, approve it and send
it.
Whereas in Corpay one, you'reable to set up some workflows
and auto categorizations andthose will will automatically

(51:22):
synchronize into, yourQuickBooks, double-edged sword.
If you, if you send, you knowyou, have to identify all of
them in order for this to worksmoothly.
So the next time that you go toa brand new place, it's going
to, you know if, it's not caughtby some kind of workflow or rule

(51:45):
that you set up in, into Corpay,it will just choose the default,
uh, which I was getting a wholebunch of transactions to meals
and entertainment, uh, becausethat, that was the default, even
though they're not that is oneof the things that is actually
in my workflow is like if I seea large amount in meals and

(52:07):
entertainment, oh, I need to goback into Corpay and set up my,
my, my advanced workflows.
And then

with, uh,

Dan DeLong (52:15):
oh, you wanna, you wanna add to that?
I was gonna say Yeah,

just to, to add and, and provide some clarity
too of, yeah.
It's credit card transactionsand reimbursements in ramp.
We do have you, like you said,Dan, tell us when to sync.
What transactions have wereviewed and we know are good to
go, that we can move intoQuickBooks.
We are investigating and kind oftrialing, uh, having it be a
little bit more event triggerof, Hey, if certain

(52:37):
qualifications are met, let'sjust sync that automatically.
However, with bills and billpayments, that is going to
trigger automatically out oframp.
After, you know, you hit acertain event of my bill's been
fully approved, now let's syncit automatically into ramp.
We've had payment executedautomatically sync it to QBO.
Sorry, I meant to say sync bothof the bill and bill payment
into QBO.

(52:58):
So it can kind of depend on whattransaction type of a credit
card or a bill of whether or notRamp's gonna want you to trigger
it or if it'll trigger itautomatically for you.
But similar to Corpay, we dohave the capability to create
these rules to help youcategorize any expenses.
So we do have that functionalityas well.
However, it's just at the end ofthe day, we want you to say,
yep, this one's good to go.
Push it to, to QuickBooks whenit comes to credit card

(53:20):
transactions.
So

Dan DeLong (53:22):
there's reasons for it.
So that's, the, it's not justsomething that you haven't, uh,
thought of and the fact that youare thinking of if, uh, if you
know, if, if, if everything goessmoothly, then go ahead and
automatically push it.
Radar is, um is, nice to hear.
As far as the AccountantAccountant partnership slash rev
revenue share both of them aregonna have a client accountant

(53:46):
dashboard where you'll be ableto see your you know, all of
your clients, like some kind of,being able to, see things across
all clients.
And then you can go into eachindividual client, with regard.
And one, one of the things thatreally impressed me about RAMP
is the onboarding sessions.

(54:09):
When you know, activate youraccount with, with ramp, you
immediately, I don't wanna saybombarded, but you are
encouraged to attend someonboarding sessions for the
things that you use.
So they'll have differentsessions and they're recorded or
live, but being able to askquestions as you get familiar

(54:30):
with using it is a good goodthing to do.
You can go in and, and do thingson the bill pay, on the card,
spend, on, all the other thingsthat that ramp offers.
And it's pretty early on in thewhole process.
And then your firm gets plus forfree.

(54:52):
So if you sign up for as anaccountant partnership, uh with,
ramp, you get a 500 credit aswell as plus for free for your
firm.
Now, is that for all users or isthere like a certain number of
users that they're allowed forfor the firm, uh, version?
Yeah.

(55:12):
I don't,

I don't think it's limited there, um, with, with
number.
But yeah, it can, it'd be atleast for your firm, but like
you said, it's not, not to avoidany confusion, not for, uh, your
clients who you would bring ontoramp.
They would not get Plus or free.
However, through ourpartnership, you can negotiate
more preferred pricing.
So instead of paying that full$15 a month or$12 a month of

(55:35):
paid annually, we can negotiatewith you so that way your
clients get preferred pricing bygetting referred to ramp through
you.
So we can help with that.
And then on top of it, kind ofthe, uh, the bonuses that you
can get for referrals as well.

Dan DeLong (55:49):
And then there's also a tiered bonus based on the
number of referrals, right?
Whatever that credit might be.
It continues to expand as you,bring out more clients into into
the RAMP platform.
And then there's also a, analternative of the recurring
revenue shared option where it'sbased off of the bill pay spend

(56:11):
and the card spend.
There's some secret saucefiguring out whatever that, uh,
works on.
And then you get monthlyrecurring revenue based off of
the, account the accountspending that they do inside the
platform.
Whereas copay one, it's a$500referral bonus for all

(56:32):
referrals, which should eitherbe a statement credit or a gift.
So overall wrapping it up here,I know we're a little bit over,
um, but if you can stay, great.
If not, that's fine too.
Um.
Ramp's a complete spendmanagement platform, and they're
future focused.
So like the, when we're talkingabout the AI, fraud detection,

(56:55):
policy creation and uploadstravel policies and, and those
services, uh, the core functionsfor for, your clients are, are
at no cost, even thetransactional fees.
And can, you can split theservices so you don't have to
necessarily do all or nothing.

(57:17):
So you could just use it for abill payment platform as opposed
to a card management.
With Corpay one, it's overall,it's a good platform.
The, advantage there is thatthere's no user fee.
So if you are in the, the plusversion of ramp pairing those
types of things, there is noadditional, uh, user fee.

(57:38):
So if you have a lot of users,uh, that could, be a, a cost.
Consideration.
They are focused mostly on thespending cards because of that
acquisition from FleetCor.
So you'll see a lot ofadvantages when you do use all,
you know, the entire platform.
You have multiple cards or, thenumber of different cards, uh,

(58:02):
that you have.
And they are kind of driftingaway from the bill pay
functionality.
Not to say that it's gonna goaway, but just to that less of
their emphasis is on the billpay function.
So if you're looking for newthings then that's definitely
where ramp not on that.

(58:23):
And QBO bills count asdocuments.
So you're bringing intransactions that document fee
could add up quite a bit bybringing in those transactions,
uh, that are already in folks tobegin with.
All right, so the last.
Polling question, uh, was thisuseful?
You'd like to learn more abouteither platform Nigel, any, any

(58:48):
closing thoughts there before wewrap things up today?

No, I think we, we covered a lot of good
information today.
Definitely two great tools thatcan kind of help in different
ways or provide differentadvantages to your business and
your clients, for helping themincrease their capability when
it comes to their spendmanagement.
I think the last kind of call orthat I'll mention is please,

(59:13):
please feel free, reach out tous if you'd love to see ramp in
action.
Uh, see what expensing and RAMPcan look like of when you use
your ramp credit cards.
We can have your expenses bezero touch.
If I swipe my ramp card and myexpenser report is done
completely for me.
So more than happy to dive intoRAMP with any of you.
So please feel free to reachout.

(59:34):
We're happy to provide contactinformation as a follow up, uh,
so that way we can show you ramplive in action and how it could
be of, of value to you and yourclients.

Dan DeLong (59:42):
Okay?
Yeah.
And we've got a question about,10 90 nines I saw through, I
don't know if you were able tomention that, if we wanted to
talk about that live as far asdoes it process the 10 90 nines
or are they treated as Aach Hpayments?
How does that work with regardsto the 10 99 processing and or

(01:00:04):
the 10 99 case?

Nigel Reiff (01:00:06):
Yeah, so the way that we look at 10 90 nines is
we're gonna be monitoring thespend that's occurring with
businesses on both cards andbill pay, and then marking if
that vendor would qualify to bea 10 99 vendor instead.
And just establish that on theaccounts.
That way you can see, oh, hereare all my vendors that are 10
99 elig eligible, and file'emappropriately.

(01:00:28):
But we do not issue the 10 90nines or any of the paperwork,
uh, related to it.
We're simply helping youidentify if vendors fall within
that.
So I'm not familiar with the,the credit card processor is
supposed to issue 10 99 K.
That may be something, um, that,that Visa could, could step in
with, but, but I hadn't heardthat of, credit card processors.

(01:00:51):
Yeah, do that.
Um, and ramp certainly would notbe considered a debit card as we
are not transacting and thenpulling from your bank account
right away, we're building up astatement balance and then you
pay at the end of the month.
So I think there's definitelysome nuances we could get into
there.
Absolutely.

Dan DeLong (01:01:06):
All right.
Um, thank you Nigel for, joiningme because I would, I would hate
to do this by myself.
So I appreciate you uh, joiningus here today, as well as
everyone that attended our livesession.
We are gonna have this, uh,recorded and be the podcast as
well in in the the, comingmoments.

(01:01:30):
We also have our, our hour storefor your swag needs.
You have, uh, specific questionsabout QuickBooks or, or anything
that, uh, you need help with.
We have, uh, quick answersover@schoolbookkeeping.com,
available for daily, monthly, orannual options.
And we time on the QB PowerHour.

(01:01:54):
A couple weeks we will betalking about our updates.
So we'll be having the, uh, theupdate session where we will
kind of.
Fill in some of these, uh, AIagents that we've been hearing
so, so much about.
And some Facebook, uh, q and a,uh, that we've seen as far as
more common posts next time onthe QuickBooks Power Hour.

(01:02:17):
So we appreciate you, uh,joining us here today.
Uh, Nigel, anything, uh, anyclosing comment?

Nigel Reiff (01:02:23):
No, I think that's it.
Really appreciate everyone'stime today, learning a little
bit more about RAMP and Corpay.
And again, happy to dive furtherinto it if anyone would love to
to see a live demo of theproduct.

Dan DeLong (01:02:34):
And we have those links on our, uh, on our landing
page.
So the, the review and whatnot.
You'll be able to do all thatfrom the QB Power Hour quick
and.

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App Showdown - All in One Spend Management:Ramp vs. Corpay One

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.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}App Showdown - All in One Spend Management:Ramp vs. Corpay One