Assertion Not checkable as stated
Glyman: Ramp's corporate credit losses are lower than Amex's historical rates
“The corporate, if you look at Amex's disclosures you know, historically, they lose .1% you know, to .2% per year, and we're below that I would argue I think below.”
Assertion Not checkable as stated
Glyman: Ramp SDRs book 3 to 4 times more meetings than competitors
“The average SDR sales development representative at RAMP we believe books three to four times as many meetings as their next closest competitor.”
Opinion
Glyman: Silicon Valley workers are mercenaries averaging 12-14 month tenures
“It's not like being in the valley where people are mercenaries. You know, I think the average career tenure is, you know, 1214 months.”
Assertion Contradicted
Glyman: Ramp is the only platform indicating whether companies overpay vendors
“Today ramp is the only place where you cannot just spend money on a vendor, but we can tell you if we're, if you're paying too much.”
Insight
Glyman: AI human augmentation is currently more valuable than full automation
“People tend to jump right to full automation when really what is incredibly valuable in the short run is augmentation of people on, on aspects of what they do.”
Insight
Glyman: Customers do not want to chat with their bank accounts
“We'd never met a single person who's like, I just wish I could chat with my bank account.”
Disclosure
Glyman: Ramp's experimental AI agent achieves 60% to 90% task accuracy
“I think right now, and the agent probably works for you know, depending on the nature of the task 60 to 90% of the task of when it's controlled and inside of the RAMP experience. Obviously, when you're dealing with financial products, it's not high enough to g…”
Insight
Glyman: Expanding small product teams into 30-person consensus groups kills velocity
“I think one of the worst things you can do to people building products is go from, hey, it's you and four people trying to decide what a well-run product is, a great experience could look like, ah, to go do a good job, and you say, great, now get 30 other peop…”
Assertion Not checkable as stated
Glyman: Ramp customers save an average of 5% on expenses
“And the upshot is the average company using, using RAMP saves about five percent. On their expenses.”
Assertion Supported
Glyman: Approximately 25,000 businesses use Ramp
“About 25,000 businesses use it from, you know, early-stage startups to publicly-traded companies like Shopify to Boys and Girls Club of America as a non-profit to, you know, everything in between.”
Opinion
Glyman: Ramp is a productivity and data company disguised as a card
“And so it's I think really a productivity or a data driven company kind of in disguise of it's your friendly neighborhood credit card.”
Opinion
Glyman: Ramp has unfair advantages over expense software by powering transactions
“We have a lot of unfair advantages over pure play expense management software because we're powering the card transaction.”
Assertion Not checkable as stated
Glyman: Ramp approves nearly 100% of prospective clients
“For us you know, if a sales team is talking to you know, a prospect, it's almost a hundred percent of companies. That we're able to approve.”
Disclosure
Glyman: Every function at Ramp uses AI in its work
“I don't think there's a function at RAMP that doesn't use AI in some part of their job.”
Disclosure
Glyman: All Ramp employees have access to company financial records
“At RAMP is, like, we report, you know, everyone has access to financials.”
Assertion Not checkable as stated
Glyman: Ramp AI sprint cut manual underwriting time from days to hours
“Underwriting times for manual cases that we couldn't use machine learning to write, it could take an underwriter two days to do that. They sat side by side with the underwriter, and I think within a couple, I think like a two week sprint that the average under…”
Disclosure
Glyman: Ramp's core spend management team is 13 to 14 people
“The core spend management team is, I think now largest has ever been. I think it's 13 people, 14 people, something like that.”
Disclosure
Glyman: Ramp teams cannot ship new features if existing product SLAs break
“You're getting the tickets, and if SLAs are broken, you can't shift new product. You need to fix the existing one”
Assertion Partly supported
Paribus reached about 1 million customers within one year of launch
“Within a year we had about a million customers”
Disclosure
Glyman: Ramp has hundreds of bi-directional and thousands of one-way integrations
“I mean, I think in terms of You know, bi-directional, fairly deep integrations. I mean, we're talking you know, low hundreds, probably when you start expanding into, you know, one way, getting, you know, low thousands.”
Disclosure
Glyman: Ramp operates a horizontal Applied AI team across all departments
“We do have an applied AI team, which, you know, is very horizontal. There's almost no part of, you know, how we operate that's off limits”
Assertion Not checkable as stated
Glyman: Ramp built its internal AI tools predominantly in-house
“Predominantly homegrown. I mean, we've been doing this for almost as long.”
Disclosure
Glyman: Half of non-automatable Ramp support requests stem from user confusion
“About half of support requests that, you know, aren't fully automatable now fall under the question of user confusion.”
Disclosure
Ramp has analyzed over 100,000 Gong sales calls for AI training
“We've now recorded for training you know, help salespeople improve, give feedback from managers, you know, over a 100,000 gong calls”
Eric Glyman