Price Intelligence on Ramp

Note: Price Intelligence is available by default to Owners, Admins, Finance Admins, and users with the Accounting role. Admins on Ramp Plus can also enable it for Custom Roles in role settings. See Ramp Plus overview for plan details.

Overview

Price Intelligence uses anonymized spend data from thousands of Ramp customers to help you understand whether you are paying too much for software. You can explore price benchmarks in Ask Ramp or open Price insights from a vendor profile when insights are available for that vendor.

Beta. Price Intelligence in Ask Ramp is currently in Beta.

How does it work?

When customers upload documentation (e.g., contracts, invoices and receipts) or execute payment transactions, we extract and process associated data, like the amounts paid, products purchased and payment terms. We then apply a variety of machine and human analysis, including large language models, to generate Price Intelligence. While we take steps to validate and produce accurate Price Intelligence, our analysis may be based on incomplete or outdated data and we may generate misleading or incorrect information.

Access Price Intelligence in Ask Ramp

If Ask Ramp is available to you, open Ask Ramp and ask it for price benchmarks for a vendor. You can also open the vendor's profile from Vendors and select Price insights when the action appears next to 30-day spend; this opens Ask Ramp, where you can benchmark an existing contract or explore other price benchmarks for that vendor.

The Price insights action appears only when you have access to Price Intelligence and Ask Ramp and Ramp has insights for that vendor. For vendors with contracts, the action depends on whether an existing agreement can be benchmarked. If you don't see it, try asking Ask Ramp about that vendor's pricing. If you cannot access Ask Ramp, ask an Admin whether it is available for your business. If you cannot access Price Intelligence, ask an Admin to review your permission in role settings.