Prediction Not checkable as stated
Glyman: Simple expense management software will probably evaporate
“I think that if you are completing the small amount of cognitive work, right, let's say you just are you know, expense app. You know, the thing, the spend has occurred. It needs, you know, to go get the, write it down somewhere and get someone's approval, and …”
Disclosure
Glyman: Ramp customer support agents ship code to production
“We have customer support agents like shipping code to production too.”
Assertion Not checkable as stated
Glyman: Majority of Ramp's 55,000+ Customers Have Adopted AI
“And we looked at our data and you know, we support over 55,000 businesses. We lean a little bit towards tech, but not heavily. It kind of resembles the distribution of businesses you would see in the States. And well the majority of businesses have used Used A…”
Insight
Glyman: Ramp differentiates from banks by selling time instead of money
“What it's evolved into, and I think is today probably the largest point of differentiation at the meta level between ramp and maybe the financial service providers that we compete with is they sell money and we sell time. They'll sell you a lower, like a loan …”
Insight
Glyman: Cutting unneeded corporate spend beats offering higher card rewards
“If you just try to say, I'm gonna have a better rewards program sure, maybe you can get that customer, you know, a dollar or a dollar 10 back, or some amount that pales in comparison to just helping them just like not spend that hundred dollars, like cancel th…”
Assertion Not checkable as stated
Glyman: All modern fintech heads of risk came from Capital One
“Our head of risk Sri Srinivasan, he's amazing came from capital, we're the same boss 10 years apart, actually in, in some sense, and all the heads of risk for all modern fintechs that are, came from Capital One.”
Assertion Not checkable as stated
Glyman: Ramp surpassed $1 billion in annual revenue in six years
“You know, I think by the time we were
You know, six years and change.
The company had passed over a billion a year in revenue.”
Prediction Not checkable as stated
Glyman: Non-card products will comprise majority of Ramp business by year-end
“I think by the end of this year you know, the second, third, fourth, fifth lines of business will comprise you know, in aggregate the majority of Ramp's business.”
Assertion Not checkable as stated
Glyman: Ramp AI agent reviews expenses with over 99% accuracy
“Now you can have an agent functionally that does that, that takes that aspect of the job and so it has access to the full set of data that you, that, that you would, all the transaction related metadata, the receipt data, the timing data, the policy data, it t…”
Assertion Supported
Glyman: Ramp powers over 2% of US business card transactions
“I believe today, ramp powers more than two percent of all corporate and small business card transactions in the United States, which is amazing for a business that, you know, ah, the product you couldn't even sign up for it six years ago.”
Assertion Not checkable as stated
Glyman: Ramp software business reached $100M ARR in two years
“Software, it's a, you know, two something year old business line, just about two years and some months.
that's over a hundred million a year business line in and of itself”
Assertion Not checkable as stated
Glyman: Ramp Treasury holds several billion dollars in deposits after one year
“Treasury
You know, that's a product that is about a year old, several billion dollars of deposits.”
Assertion Not checkable as stated
Glyman: Ramp helps average business cut expenses by 5% annually
“You know, we help the average company cut their expenses by about five percent per year.”
Disclosure
Glyman: Ramp processes over 100k expenses daily with AI agents
“I think that we're processing over a 100,000 expenses a day that are being reviewed agentically. This is a very fast growing subset of the business.”
Insight
Glyman: One Penny Saved Equals 12 Pennies of Revenue Earned
“Average American business has an eight percent profit margin and so mathematically speaking, a penny saved is equivalent to 12 pennies of revenue earned”
Assertion Not checkable as stated
Glyman: Most Ramp customers have zero software engineers
“Most of our customers don't have a single software engineer, let alone a software engineer for their finance team.”
Assertion Partly supported
Glyman: Capital One was once USPS's largest customer before Amazon
“They did this so large where I think at one point they were the largest customer of the US postal service. They would send out so many offers. I think until Amazon took them over, there was a period of time that they did this.”
Assertion Contradicted
Glyman: Average US Business Checking Account Yield Is 0.7%
“I think that the national average You know, on checking accounts is .7% in the US.”
Eric Glyman