Case Study: Prosper cuts travel costs 15% and reclaims a week a month with Ramp Travel

Prosper cuts travel costs 15% with Ramp

Prosper, a mid-size fintech company, faced significant challenges with its corporate travel and expense management. Their previous system, which used three separate platforms for booking, expenses, and accounts payable, was plagued by booking errors, missed approvals, and extensive manual reconciliation. This lack of visibility into spending led to out-of-policy bookings and stranded employees, costing the finance team 10-15 hours per month just on travel reconciliation. They turned to Ramp to consolidate their financial operations.

By implementing Ramp's integrated platform, which includes travel, expense management, and accounts payable, Prosper built policy directly into the booking process. This allowed employees to see in-policy options before purchasing and automated approvals and coding. As a result, Prosper cut travel costs by 15%, automated over 90% of bill payments, and saved the finance team 30 hours per month. Ramp's solution replaced manual reconciliation with automated workflows, reclaiming over 360 hours annually for the company.

Prosper