Corporate Expense Receipt Tracking Saves 80% in Admin Time
Last updated:
July 16, 2025
Corporate expense receipt tracking just got a major upgrade, thanks to Ramp's innovative platform. Ramp partnered with Taggun to use its specialised Optical Character Recognition (OCR) technology for receipts and invoices. This has streamlined the difficult task of expense management for finance teams. The system automates receipt collection and data extraction. This reduces the administrative time spent on these tasks by up to 80%.
The platform allows employees to submit receipts through text messages. An intelligent algorithm then automatically matches the receipt data to the correct corporate card transaction. This level of automation helps companies close their financial books five times faster. It removes the need for manual data entry and reduces common errors.
Calvin Lee
,
Ramp
Automating Expense Tracking
Ramp addressed several key problems that arise from traditional expense management. These outdated processes created significant challenges for finance teams and employees.
- Financial operators spent many hours on tedious line-by-line expense reconciliation.
- Employees struggled to keep track of physical receipts, often losing or damaging them.
- Companies lacked real-time visibility into spending, making policy enforcement difficult.
- Manual data entry led to frequent errors, which created inaccuracies in financial reports.
- The use of multiple cards and a high volume of transactions created logistical problems for finance teams.
For a mid-sized company with 100 employees, this approach consumed 40 to 60 hours of administrative time every month. The financial impact from lost productivity was significant. Ramp saw a clear opportunity to create a solution. The goal was to save time, improve accuracy, and provide businesses with better financial control.
From Concept to Integrated Expense Receipt Tracking
Ramp's goal was to create an integrated system for expense management. The company partnered with Taggun to use its advanced Optical Character Recognition (OCR) capabilities. Taggun’s technology is specialised for processing receipts and invoices, which provides higher accuracy than general-purpose OCR solutions. This specialisation was important for building a reliable platform.
The solution combines several key technologies.
- Customisable Expense Policies: Companies can set their own spending rules and limits. This allows for real-time, automated policy enforcement, which is an effective way to control company spending.
- Unlimited Physical and Virtual Cards: Businesses can issue cards with pre-approved spending limits. This gives companies direct control over employee expenditures.
- Automated Receipt Collection: Employees can submit receipts via text message. This removes the need for manual collection and storage of paper receipts.
- Specialised OCR Technology: Taggun’s AI-powered OCR extracts key information from receipt images. It captures the retailer, date, and total amount with high accuracy. The data is then converted into a structured JSON format for use in other systems.
- Automatic Transaction Matching: The platform uses a machine learning algorithm to match the extracted receipt data with the correct corporate card transaction. This automated reconciliation process significantly reduces administrative work.
This system transforms expense management from a manual chore into an efficient, automated workflow. It provides a comprehensive solution that addresses the entire expense lifecycle, from the initial purchase to the final reconciliation.
Measurable Gains in Finance Operations
The implementation of Ramp's expense management platform delivered significant and measurable results.
- A reduction in administrative time for finance teams by 80%.
- A financial closing process that was five times faster.
- Near-perfect expense policy compliance due to automated enforcement.
- Substantial cost savings from reduced overspending.
- Improved employee satisfaction with a more streamlined expense reporting process.
- Enhanced real-time financial visibility for better business decisions.
- A scalable expense management system that can grow with the company.
- An uncapped 1.5% cashback on all purchases, which turned expenses into a revenue source.
These outcomes provided companies with immediate benefits in time and cost savings. The improved financial oversight allowed businesses to move resources away from administrative tasks and toward more strategic initiatives.
The Receipt Processing Tech Stack
Ramp's expense management platform is built on a foundation of advanced OCR and AI technologies to automate the expense workflow. The technical stack includes several key components.
- AI-Powered Data Extraction: The system uses a specialised OCR engine designed for receipts and invoices. It leverages AI and machine learning to identify and extract key information from images.
- It captures essential data points like merchant details, transaction dates, and total amounts.
- The technology supports all languages and various file formats, including JPEG, PDF, and PNG.
- The output is delivered in a structured JSON format, which is ready for integration into other software.
- Transaction Matching Algorithm: A machine learning algorithm uses the structured data from the OCR to pair receipt images with the correct card transactions. It analyses the merchant name, date, and amount to ensure an accurate match.
- Adaptable Rules Engine: The platform includes a customisable rules engine. This component automatically enforces company spending policies in real-time, adapting to the unique requirements of each business.
- Scalable Cloud Infrastructure: The solution is built on a reliable, cloud-based infrastructure. This foundation ensures scalability and high availability, with 99.9% uptime and built-in resiliency. It is capable of processing millions of requests each month without a loss in performance.
This combination of technologies creates a seamless and automated process for managing expenses.
Growth Through Efficiency
Ramp's expense management solution shows a significant advance in financial technology. By using AI-powered OCR and smart policy enforcement, the platform solves major challenges in corporate finance. The partnership with Taggun provides the specialised technology needed to deliver a reliable and accurate system.
The key advantages of the solution include:
- Significant Time Savings: The platform reduces the administrative time spent on expense management by 80%.
- High Accuracy: The system delivers accurate data extraction because it uses an OCR engine specialised for receipts and invoices, unlike general-purpose OCR tools.
- Real-Time Policy Control: Customisable rules allow for the automated, real-time enforcement of company spending policies.
- Seamless Integration: A well-documented API allows for a straightforward integration process into existing software systems.
- Scalable Performance: The platform is built on a reliable infrastructure, ensuring it can support growing businesses.
The technology behind the platform continues to improve, with ongoing work to enhance the AI and machine learning models. This commitment to innovation ensures the solution will meet future business needs. By automating complex financial tasks, Ramp allows businesses to save time, reduce errors, and gain better visibility into their spending. This empowers them to make smarter financial decisions and focus on growth.