Ramp vs Expensify

When it comes to managing expenses, there are a plethora of options available in the market. Two of the most popular expense management tools are Ramp and Expensify. 

Both Ramp and Expensify offer a range of features to help businesses track and manage their expenses efficiently. 

However, choosing between the two can be a daunting task, especially if you're not familiar with their features and pricing structures.

In this article, we'll compare Ramp and Expensify to help you make an informed decision about which tool is right for your business. 

We'll cover their pricing structures, pros and cons, key features, and more.

Key Takeaways

• Ramp and Expensify are two popular expense management tools that offer a range of features to help businesses track and manage their expenses efficiently.
• Ramp offers a more affordable pricing structure compared to Expensify, making it a great choice for small businesses and startups.
• Expensify offers more advanced features and integrations compared to Ramp, making it a better fit for larger businesses with complex expense management needs.

Ramp vs Expensify: A Quick Comparative Table

When it comes to choosing between Ramp and Expensify, it can be challenging to decide which one is the best fit for your business. 

Pricing: Ramp offers a free plan, while Expensify starts at £4 per user per month. However, Expensify's paid plans offer additional features such as advanced policy enforcement and custom branding.

Credit Card Integration: Both Ramp and Expensify offer credit card integration, allowing users to easily import transactions and receipts.

Receipt Scanning: Ramp and Expensify both offer receipt scanning features that allow users to capture and store receipts digitally.

Mobile App: Ramp and Expensify have mobile apps that allow users to manage expenses on-the-go.

Automated Expense Reporting: Both Ramp and Expensify offer automated expense reporting, saving users time and reducing the risk of errors.

Bank Account Integration: Ramp offers bank account integration, allowing users to import transactions from their bank accounts. Expensify, on the other hand, does not offer this feature.

Overview of Ramp and Expensify

Core Offerings

Both platforms offer features such as receipt tracking, expense categorisation, and reporting.

Ramp, however, also offers a corporate card that integrates with the platform, allowing for real-time tracking and control of employee spending. 

Expensify, on the other hand, focuses solely on expense management and does not offer a corporate card.

Target Users

Ramp is targeted towards small businesses and startups, while Expensify is geared towards larger corporations. 

Ramp's pricing model is based on a flat monthly fee, making it more affordable for smaller businesses. 

Expensify, on the other hand, charges per user, which can quickly add up for larger companies.

Market Position

Ramp is a relatively new player in the expense management market, but has quickly gained popularity due to its user-friendly interface and affordable pricing. 

Expensify, on the other hand, has been around for over a decade and has established itself as a reliable and robust expense management solution.

If you're a small business looking for an affordable and easy-to-use expense management solution with a corporate card, Ramp may be the better option. 

If you're a larger corporation with more complex expense management needs, Expensify may be the better choice.

Ramp vs Expensify: Pricing

How much does Expensify Cost?

Expensify offers four different pricing plans: "Track", "Submit", "Collect", and "Control". 

• The "Track" plan is free for individuals and offers basic expense tracking features. 
• The "Submit" plan costs £4 per user per month and includes expense reporting and reimbursement features. 
• The "Collect" plan costs £5 per user per month and includes features for invoicing and bill payments. 
• The "Control" plan costs £9 per user per month and includes advanced policy enforcement and approval workflows.

How much does Ramp Cost?

Ramp offers two pricing plans: "Ramp Expense" and "Ramp Corporate Card". 

• The "Ramp Expense" plan is free and includes basic expense tracking and reporting features. 
• The "Ramp Corporate Card" plan is a paid plan that includes a corporate credit card and advanced expense management features. 

The pricing for this plan is not publicly available on their website and interested users are required to contact Ramp's sales team for a quote.

ExpenseOnDemand vs Ramp vs Expensify Pricing

When it comes to pricing, ExpenseOnDemand, Ramp, and Expensify offer different plans to cater to various business needs and budgets.

ExpenseOnDemand offers a simple pricing structure with a monthly fee of £5 per user, which includes unlimited expense reports and receipts, as well as bank integration and VAT handling. 

Ramp, on the other hand, offers a free plan that includes basic expense tracking and receipt capture. For more advanced features such as corporate cards and automated accounting, businesses can upgrade to Ramp's paid plans. 

Expensify offers a range of plans starting from £4 per user per month for basic features such as receipt scanning and expense tracking. 

For more advanced features such as corporate card management and custom integrations, businesses can opt for Expensify's higher-tier plans which start at £8 per user per month.

Ramp Pros and Cons

Ramp is a popular expense management tool that offers several advantages and disadvantages. 

Here are some of the pros and cons of using Ramp for your business expenses:

Pros

• Real-time expense tracking: Ramp allows you to track your expenses in real-time, so you can see exactly where your money is going and make adjustments as needed.
  
  
• Automated receipt capture: Ramp automatically captures receipts for you, so you don't have to worry about keeping track of them manually.
  
  
• Integrates with accounting software: Ramp integrates with popular accounting software like QuickBooks and Xero, making it easy to manage your expenses and accounting in one place.
  
  
• No annual fees: Unlike some other expense management tools, Ramp doesn't charge any annual fees, so you can save money on your expense management costs.
  
  

Cons

• Limited reporting options: Ramp's reporting options are somewhat limited, so you may not be able to generate the exact reports you need for your business.
  
  
• No mobile app: Ramp doesn't currently offer a mobile app, which may be inconvenient for users who need to manage their expenses on the go.
  
  
• Limited integrations: While Ramp does integrate with popular accounting software, it doesn't integrate with as many other tools as some other expense management tools do.
  
  

Ramp is a good choice for businesses looking for an easy-to-use expense management tool with real-time tracking and automated receipt capture. 

However, its limited reporting options and lack of a mobile app may be drawbacks for some users.

Expensify Pros and Cons

When it comes to managing expenses, Expensify has its own set of advantages and disadvantages. 

Here are some of the pros and cons of using Expensify:

Pros

• User-friendly interface: Expensify has a simple and intuitive interface that makes it easy for users to navigate and manage their expenses.
  
  
• Automation features: Expensify offers automation features that help users save time and reduce errors. For example, users can link their credit cards and bank accounts to Expensify, which will automatically import transactions and categorize expenses.
  
  
• Mobile app: Expensify has a mobile app that allows users to capture receipts and submit expenses on the go. The app also has a feature that lets users track their mileage using GPS.
  
  
• Integration with accounting software: Expensify integrates with popular accounting software such as QuickBooks, Xero, and Sage, making it easy for users to export their expenses and create reports.
  
  

Cons

• Limited free plan: Expensify's free plan has limited features and is only suitable for individuals or small businesses with basic expense management needs. Users who require more advanced features will need to upgrade to a paid plan.
  
  
• Cost: Expensify's paid plans can be expensive, especially for larger businesses with a lot of users. The cost per user can add up quickly, making it a less cost-effective option for some businesses.
  
  
• Limited customization: Expensify has limited customization options, which may not be suitable for businesses with specific expense management requirements.
  
  

Expensify is a solid expense management solution that offers a range of useful features. 

However, its limited free plan and high cost may make it less accessible for some users.

ExpenseOnDemand vs Ramp vs Expensify Comparative Analysis

User Interface

ExpenseOnDemand has a simple and user-friendly interface. The dashboard is easy to navigate, and the process of submitting expenses is straightforward. 

Ramp has a modern and sleek interface that is easy on the eyes. The software has an intuitive design, and the dashboard is customizable. 

Expensify has a cluttered interface, which can be overwhelming for some users.

Features

ExpenseOnDemand has all of the features you need and more such as expense tracking, receipt scanning, and reporting. The software also offers integrations with accounting software like QuickBooks and Xero.

Ramp offers features such as virtual cards, spend tracking, and automatic receipt matching. 

Expensify has a wide range of features such as automatic expense tracking, receipt scanning, and reimbursement processing.

Customer Support

ExpenseOnDemand has email support, and the response time is usually within a few hours. 

Ramp has email and phone support, and the response time is usually within 24 hours. 

Expensify has email and chat support, and the response time is usually within one business day.

Ramp vs Expensify Features Compared

Expense Tracking

Both Ramp and Expensify offer expense tracking features, but there are some differences between the two. 

Ramp's expense tracking is integrated with its corporate card, making it easy to track expenses in real time. 

Expensify, on the other hand, allows you to track expenses from multiple sources, including credit cards and receipts.

Receipt Capture

Expensify has a unique feature that allows you to capture receipts using your smartphone's camera. This feature can save time and reduce the risk of losing receipts. 

Ramp also offers receipt capture, but it requires you to manually upload receipts.

Reporting

Ramp's reporting is focused on providing insights into spending patterns and trends. 

Expensify's reporting is more detailed, allowing you to drill down into specific expenses and categories.

Integrations

Expensify has a wider range of integrations with other software tools, including accounting software and HR systems. 

Ramp's integrations are more limited, but it does offer integrations with popular accounting software like QuickBooks and Xero.

ExpenseOnDemand vs Ramp vs Expensify Features Compared

ExpenseOnDemand

ExpenseOnDemand is a cloud-based expense management solution that offers a range of features to help you manage your expenses efficiently. 

Some of the key features of ExpenseOnDemand include:

• Receipt scanning: You can use your smartphone to scan receipts and upload them to the platform, saving you time and hassle.
• Expense tracking: You can track expenses in real-time and monitor your spending against budgets and policies.
• Approval workflows: You can set up custom workflows to ensure that expenses are approved by the right people in your organisation.
• Reporting: You can generate reports on expenses, including analytics and insights to help you make better decisions.
• Integration: We boast one of the quickest integrations with Xero and Quickbooks. In just seconds, your receipts and expenses can seamlessly integrate into both Xero and QuickBooks. Thanks to our user-friendly wizard, the process is so straightforward that anyone can do it!

Ramp

• Corporate cards: Ramp offers virtual and physical corporate cards that can be used by employees to make purchases.
• Real-time tracking: You can track expenses in real-time and monitor your spending against budgets and policies.
• Automated reconciliation: Ramp automatically reconciles transactions with your accounting software, saving you time and hassle.
• Reporting: You can generate reports on expenses, including analytics and insights to help you make better decisions.

Expensify

• Receipt scanning: You can use your smartphone to scan receipts and upload them to the platform, saving you time and hassle.
• Expense tracking: You can track expenses in real-time and monitor your spending against budgets and policies.
• Approval workflows: You can set up custom workflows to ensure that expenses are approved by the right people in your organisation.
• Reporting: You can generate reports on expenses, including analytics and insights to help you make better decisions.

Get Started with ExpenseOnDemand Today

If you're looking for a reliable and efficient expense management tool, ExpenseOnDemand is a great option. Here's how you can get started with it today:

1. Sign up for an account: The first step is to sign up for an account on the ExpenseOnDemand website. You'll need to provide some basic information, such as your name and email address. Once you've signed up, you'll be able to access the platform and start using it right away.
   
   
2. Set up your account: After signing up, you'll need to set up your account. This involves adding your company information, creating expense categories, and setting up your approval workflow. The platform is designed to be intuitive and easy to use, so you should be able to get started quickly.
   
   
3. Upload your expenses: Once your account is set up, you can start uploading your expenses. You can do this manually by entering them into the platform, or you can use the mobile app to take photos of your receipts and upload them automatically. The platform will automatically categorise your expenses and flag any that need approval.
   
   
4. Track and manage your expenses: With your expenses uploaded, you can start tracking and managing them. You can view reports to see how much you're spending, where you're spending it, and who's spending it. You can also set up alerts to notify you when expenses need approval or when you're approaching your budget limits.
   
   

ExpenseOnDemand excels as a top-tier option, seamlessly integrating with Xero and other leading accounting software. The flexible custom report builder facilitates effortless expense and receipt integration into any accounting software, offering a wide array of functionalities from policy enforcement to AI receipt scanning. The platform's rich features are complemented by user-friendly video tutorials for easy training.

Their pricing model is the most competitive, ensuring you pay only for what you use, backed by a flexible rolling contract that demonstrates confidence in their service. Implementation is complimentary, and they invest ample time to ensure your team fully leverages the platform. With a support team addressing minimal issues, ExpenseOnDemand maintains a consistently higher consumer rating, visible in reviews on G2 and Gartner.

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Frequently Asked Questions

What are the key differences in expense management features between Ramp and Expensify?

Both Ramp and Expensify offer a range of expense management features, including receipt capture, categorisation, and reporting. However, Ramp stands out with its real-time expense tracking, which allows you to see your spending as it happens. Expensify, on the other hand, offers more advanced reporting and analytics features, making it a better choice for businesses with complex expense policies.

How does the cashback system compare between Ramp and Expensify?

Ramp offers cashback on all purchases made with its card, with up to 1.5% cashback on all purchases. Expensify, on the other hand, does not offer a cashback system. If earning cashback on your expenses is important to you, Ramp is the clear winner in this category.

Which mobile application, Ramp's or Expensify's, offers better on-the-go expense tracking?

Both Ramp and Expensify offer mobile applications for on-the-go expense tracking. However, Ramp's app is more user-friendly and intuitive, with a simpler interface and more streamlined expense tracking process. Expensify's app offers more advanced features, such as GPS tracking and mileage tracking, making it a better choice for businesses with employees who frequently travel.

How do Ramp's receipt management capabilities stack up against those of Expensify?

Both Ramp and Expensify offer receipt capture and management features. However, Expensify's receipt management capabilities are more advanced, with the ability to automatically categorise and tag receipts based on their content. Ramp's receipt management is more basic, but still functional for most users.

Is there a difference in the expense policy controls offered by Ramp and Expensify?

Both Ramp and Expensify offer customisable expense policy controls, allowing businesses to set spending limits and approval workflows. However, Expensify offers more advanced policy controls, including the ability to set up custom approval workflows and expense policies for specific departments or teams. Ramp's policy controls are simpler, but still effective for most businesses.

Does Expensify offer a time tracking feature, and how does this compare to Ramp's functionalities?

Expensify offers a time tracking feature, allowing employees to track their time and expenses in one place. This feature is particularly useful for businesses with hourly employees or those who bill clients by the hour. Ramp does not offer a time tracking feature, making Expensify a better choice for businesses with time tracking needs.

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