Dive Brief:
- Finance software provider Ramp said Tuesday that it is expanding its platform to handle accounts receivable workflows.
- The new feature will automate portions of the invoice-to-cash lifecycle, including creating invoices from contracts and purchase orders, drafting collections follow-ups, matching incoming payments to invoices and generating revenue recognition schedules, according to a press release.
- “Ramp has always helped businesses control the money going out,” Geoff Charles, Ramp’s chief product officer, said in the release. “With Ramp Accounts Receivable, we can now help them manage the money coming in. This has been a top request from our customers.”
Dive Insight:
The launch comes as CFOs put more emphasis on cash flow.
FTI Consulting’s 2026 Global CFO Survey found 89% of finance leaders are stepping up efforts to improve working capital, while faster cash conversion is emerging as a key lever for funding growth. The survey also found 90% of CFOs are deploying intelligent document processing to accelerate invoicing and streamline payment processing.
Meanwhile, a recent survey from credit insurance and risk management firm Atradius found about seven in 10 U.S. businesses face late payments from customers, affecting an average 23% of business-to-business receivables. Customer payment issues can also reduce cash available for day-to-day operations, Atradius found.
Accounts receivable information is often spread across contracts, purchase orders, emails, spreadsheets and bank feeds, according to Ramp. Finance teams then have to determine what customers owe, create invoices and billing schedules, monitor outstanding balances, follow up on unpaid invoices and reconcile payments.
“Finance teams today spend too much time chasing payments for outstanding invoices,” Charles said in the release.
Ramp said its AI can turn contracts into ready-to-review invoices, use a company’s collections policy and customer information to draft follow-up messages and match incoming payments to the appropriate invoices.
The newly launched product is currently available to U.S.-based, single-entity businesses using QuickBooks Online or NetSuite, with additional ERP integrations planned, Ramp said.
The software maker said more than 70,000 organizations use its platform, with more than $200 billion in purchases processed annually.
