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Learn how Kordis uses Ramp to streamline operations for our clients.
As a fractional CFO at Kordis, I've seen firsthand how the right financial tools can transform a business's operations. Among the various financial management platforms we've evaluated, Ramp stands out as an exceptional solution that we now incorporate into our standard client onboarding process. In this post, I want to share why we at Kordis are proud to be a Gold Partner with Ramp and how this powerful platform benefits our clients.
Before diving into Ramp's features, it's worth noting why efficient financial management is so crucial for growing businesses. As fractional CFOs, we routinely encounter common pain points across organizations:
These challenges often result in delayed financial reporting, poor spending visibility, and ultimately, less informed decision-making. When we discovered Ramp, we quickly recognized its potential to address these issues comprehensively.
One question we often get is: "Why Ramp when there are other bill pay and expense management solutions available?" The answer lies in Ramp's unique combination of features, user-friendliness, and cost.
Unlike platforms such as Bill.com, which charges accounting firms $50-100 monthly just to access the platform and approximately $83 per user, Ramp offers comparable functionality at no cost. This free access provides immediate value to both our firm and our clients.
Perhaps the most significant efficiency gain comes from Ramp's automated receipt collection. For accountants and financial professionals, chasing receipts is traditionally one of the biggest bottlenecks in monthly close processes.
Ramp addresses this challenge brilliantly through:
This automation alone has dramatically reduced our month-end close time, helping us deliver financial statements within our target of 10 days after month-end – something that was nearly impossible when manually chasing receipts.
Our clients benefit tremendously from Ramp's bill pay features, which allow us to implement accounts payable best practices, including:
For many of our clients, simply implementing batched payments on weeks that don't coincide with payroll has resolved approximately 80-85% of cash flow issues – a simple but powerful change that Ramp makes easy to execute.
Beyond standard bill pay features, Ramp offers a unique cash flow solution through Ramp Flex. This feature allows businesses to extend payment terms by 30, 60, or 90 days when needed, creating additional float without disrupting vendor relationships.
This financing option provides invaluable flexibility during seasonal cash crunches or growth periods without requiring businesses to tap into traditional lines of credit. When combined with the 1.5% cash back earned on all Ramp card payments, this creates both cost savings and financial flexibility for our clients.
For growing businesses, controlling spend is just as important as tracking it. Ramp excels in this area through:
These controls eliminate the awkward conversations about inappropriate expenses by preventing unauthorized purchases before they happen. When an employee attempts to use their Ramp card for a prohibited expense category, the transaction is simply declined.
One of Ramp's most innovative features is the ability to create vendor-specific virtual cards. Using the "migrate payments" function, businesses can scan existing credit card statements and automatically generate dedicated virtual cards for each subscription or recurring payment.
This approach provides several advantages:
Ramp's price intelligence feature gives our fractional CFOs extraordinary visibility into what other businesses are paying for the same services. With anonymized benchmarking data from thousands of businesses, we can identify:
This information has proven invaluable during contract negotiations. When we can confidently tell a vendor that comparable businesses are paying significantly less, we're often able to secure better terms for our clients.
At Kordis, we've taken our Ramp partnership a step further by integrating our cash flow forecasting software directly with Ramp. This integration allows our clients to pull accounts payable data directly into their forecasts, creating more accurate projections with less manual effort.
This direct data flow eliminates the need for duplicate entry and ensures that cash flow forecasts reflect the most current payables information, including scheduled payment dates and amounts.
From an accounting perspective, Ramp creates significant efficiency gains:
These efficiencies allow our accounting team to focus on higher-value analysis rather than administrative tasks, ultimately providing better insights to our clients.
While the core expense management and bill pay features deliver the most immediate value, Ramp continues to expand its offering with:
At Kordis, we've made Ramp implementation a standard part of our client onboarding process for several reasons:
As Gold Partners with Ramp, we've implemented the platform across dozens of clients and consistently seen these benefits materialize. The combination of no platform cost, immediate efficiency gains, and enhanced financial control makes Ramp an easy recommendation for businesses of all sizes.
Josh Thompson is a fractional CFO at Kordis, a financial operations firm that provides fractional CFO services, strategic financial guidance, and FP&A software to help businesses make better financial decisions. Kordis is a proud Gold Partner of Ramp.
