The financial operations landscape is undergoing a seismic shift, driven by the integration of artificial intelligence (AI) into corporate spending management. At the forefront of this transformation is Ramp, a fintech startup recently ranked number six on this year’s CNBC Disruptor 50 list. In a recent interview on CNBC’s “Fast Money,” Ramp CEO Eric Glyman provided an in-depth look at how his company is leveraging AI to revolutionize the way businesses handle expenses, while outlining the rapid growth and competitive edge that position Ramp as a leader in this space.

Glyman described Ramp as a comprehensive finance operations platform that enables companies to issue corporate cards, manage payments, automate expense reports, and streamline accounting processes. Serving over 40,000 businesses—from startups to Fortune 500 companies—Ramp has focused on reducing corporate expenses by an average of 5% annually. What sets Ramp apart, according to Glyman during his CNBC discussion, is the deep integration of AI into its platform. This technology acts as a virtual assistant, automating tedious tasks like drafting expense memos and ensuring policy compliance in real time, often completing these processes in under 15 seconds.

AI as a Silent Partner

Unlike traditional systems that require extensive human input, Ramp’s AI works alongside employees, enhancing rather than replacing their roles. Glyman emphasized on CNBC that the platform integrates seamlessly into everyday workflows. For instance, when an employee uses a corporate card, the system checks the expense against company policy before approval and even prompts for receipts via text. This automation extends to bill payments, month-end closings, and procurement cycles, freeing up valuable time for finance teams to focus on strategic initiatives.

This focus on efficiency is not just a promise but a measurable outcome. Glyman shared staggering figures on CNBC, noting that since its launch nearly five years ago, Ramp has saved its clients over $2 billion and more than 20 million hours of labor—time previously spent on manual expense reporting. Such metrics underscore Ramp’s commitment to delivering tangible value, a stark contrast to competitors who, as Glyman pointed out, often incentivize increased spending through rewards programs.

Growth and Market Disruption

Ramp’s growth trajectory is equally impressive. Glyman revealed on CNBC that the company is now in the upper nine figures of revenue, with growth accelerating even at this larger scale compared to the previous year. From serving around 20,000 companies a year ago, Ramp has doubled its customer base to over 40,000. Yet, with only 1.5% of the corporate and small business card market captured, Glyman sees vast potential for expansion, especially against legacy players whose products have barely evolved in decades.

A strategic move to boost visibility, such as a Super Bowl ad, has paid dividends in brand recognition and customer acquisition, as Glyman discussed on CNBC. This aggressive marketing, combined with rapid product innovation—evidenced by 275 features shipped in the last five months—positions Ramp to challenge entrenched financial giants. Glyman’s vision is clear: to modernize financial tools that have been “stuck in time,” ensuring businesses spend less while achieving more.