The spend management platform for mid-size teams (customizable virtual cards, budgeting, auto-reconciling, and expense reimbursement).
Our Unfiltered Thoughts
Ramp is one of the clear leaders in the spend/expense management, budgeting space, and accounting automation space with a slightly different focus than that of Divvy. (Oh and it's totally free 👀)
They have a great UI/UX, tons of reporting/insights features, and a super clean and fast search functionality to find exactly what you're looking for:
One bit that I noticed when using Ramp is that they are a bit more focused on SMS interactions instead of having a fully-featured mobile app (unlike that of Divvy for example), Ramp only has an iOS app and it's mainly just for taking photos of receipts and matching transactions.
This might be a positive for those who have employees that aren't as tech-savvy, and you just need them to text a receipt in for it to tie to the expense management side of things (something that Divvy doesn't allow for).
The rewards are pretty standard with others in the space, getting somewhere around 1–1.5% on all categories, with a bit more in certain categories (higher % when making payments weekly—less if made bi-weekly or monthly).
They do although have slightly higher requirements than that of Divvy. You need to have somewhere around $70k sitting in your business bank account at the time of applying in order to be approved, which might be tough for businesses that don't really need to be sitting on cash in the bank.
All-in-all, they are focused a bit more broadly than that of Divvy, moving more into the accounting automation side of things and integrating with a few more accounting tools natively. They really have an impressive suite of tools.
There is currently no promo code for this app but we are close partners, so if you use the link above to visit the site and then let their team know that Efficient App sent you, you may just get a little something... extra 😉
There is currently no promo code for this app—we'll update it here if that changes in the future!
Get $250 if you're approved after using the link (button) above to sign up.
Accounting software for small and medium teams typically based in the US
Our Unfiltered Thoughts
We find that teams based in the US tend to use QuickBooks Online, and businesses outside of the US tend to lean more toward Xero.
This is important because it means that the features QBO is building is more focused on things like US Sales Tax laws, while Xero may have more accounting features helpful outside of the US especially.
Also, accountants inside of the US are often more proficient with QBO as compared to Xero (although they should be familiar with both).
P.S. We highly recommend QBO over QuickBooks Desktop because of their robust API—you're not going to be integrating QuickBooks Desktop easily with anything.
Expense Management
Rating: D-
Some people have mentioned that QuickBooks Online allows for some expense management features like virtual credit cards, that said, a tool like Bill Spend & Expense (formerly Divvy) does so much more for expense management than simply allowing for a one-off virtual card though. Unlike QBO, a proper expense management tool allows you to go deeper, as it ties in individual and team budgets (across the entire company), all to ensure your company only allocates what they have budgeted for.
Receipt Matching
QBO also does not have proper receipt matching that automatically ties the receipt from your email to the individual transaction.
Credit Card Rewards
QBO does not have credit card rewards with their virtual credit card solution either.
There is currently no promo code for this app but we are close partners, so if you use the link above to visit the site and then let their team know that Efficient App sent you, you may just get a little something... extra 😉
There is currently no promo code for this app—we'll update it here if that changes in the future!
We've been evaluating and integrating software for the past decade. Tell us your needs—we'll give you your stack. Then let us automate the rest. (Teams we work with have reported saving 25–300+ hrs/mo in addition to $90k–$120k per year on operational + administrative salaries).
You will hear from us within 24 hours of applying about next steps! 🚀 (please note only eligible companies will be chosen for the audit.)