Managed Vendors

Overview

Note: The vendor approvals feature is only available for Early Access. You can opt-in to Ramp's Early Access under Company settings ↗.

• Managed Vendors are vendors you need to maintain active relationships with; the Managed vendors table is a centralized system of record for your vendor data, making Ramp the single source of truth over spreadsheets and scattered tools

• Proactively track contract terms, renewal dates, and ownership to prevent missed renewals and ensure accountability of key vendors

• Mitigate compliance risks through structured and reliable vendor management

How it works

• Ramp automatically selects managed vendors for you based on specific criteria like recent spend, active procurement requests, contracts and more. The Vendors > Overview table is automatically filtered to your Managed vendors. You can add/remove vendors from this list at any time. 
• Managed vendors surfaces your top vendors by payment volume across Bill Pay and cards, and flags missing info to the right owner.
• Criteria - Ramp generates and maintains the managed vendors list based on if at least one of the below criteria is met:
  • Bill pay vendors with greater than $1k spend in the last 365 days and greater than $0 spend in the last 90 days
    • • If your business has greater than 40 bill pay vendors, Ramp selects the top 40 bill pay vendors by 365 day spend
  • Card merchants with greater than $0 spend in the last 365 days and are in the top 20% of card spend within the business
    • • Card merchants are evaluated only from the following categories: Cloud Computing, SaaS, Professional Services, and Advertising

  • Vendors with approved Procurement requests in an active spend window

  • Vendors with an active contract 

• Managed Vendors can easily be identified by the star seen on the vendor's icon
• The Overview table will automatically be filtered to your Managed Vendors
• You can add or remove managed vendors at any time by selecting multiple on the vendors table and hitting the Add or Remove button in the bottom right, or by going to a vendor's profile > Edit profile > Managed vendors