Ramp has added an artificial intelligence (AI) agent to its procurement platform.
The company said in a press release Wednesday (April 29) that the new agents will be able to prioritize employee requests, source vendors, review contract terms and handle compliance checks.
The platform runs on anonymized pricing benchmarks and vendor data from millions of ramp transactions, allowing small businesses to provide benchmark data that Fortune 500 companies might use, according to the release.
The company’s new AI agent will enhance this effort with the ability to identify compliance risks and identify savings opportunities, according to the release.
As AI contracts become increasingly expensive and feature new types of pricing models, the need for this type of capability increases as enterprises increasingly adopt AI, the release states.
“The tools businesses use to make purchases have not kept up with the speed and sophistication of what they are buying,” Ramp Chief Product Officer Jeff Charles said in a release. “We built a purchasing platform where AI agents do the work. Finance teams can hire Ramp as an extension of their team and execute purchasing end-to-end.”
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According to the release, Ramp Procurement customers on average reduce vendor costs by 16% per year and spend 46 hours per month on manual purchasing tasks.
Among U.S. companies with at least $1 billion in annual revenue, 25% are actively using generative AI in their procure-to-pay cycle, and an additional 48% are considering doing so, according to the PYMNTS Intelligence report, “The Investment Impact of GenAI Operating Standards on Enterprise Adoption.”
Ramp released its first AI agent set, Agent for Controllers, in July 2025 and its second AI agent set, Agent for AP, in October 2025.
In March, Ramp and Visa announced the introduction of an AI agent that automates bill payments for businesses, reducing manual labor, controlling spending, and enabling savings. The companies said these agencies will give Ramp customers greater payment flexibility and greater control over corporate spending.
Ramp said at the time that its enterprise customer base will grow 133% year-over-year in 2025 as companies seek to replace older infrastructure burdened by manual controls and unconnected systems.
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