Priceline and Ramp collaborate to revolutionize outdated business travel practices

Ramp, the innovative expense management company that has recently been valued at $7.65 billion, is expanding its services into the realm of business travel through a strategic partnership with Booking Holdings’ Priceline. This move comes as a response to the increasing demand for integrated corporate spend platforms that offer a wide range of services to attract and retain customers.

The newly launched product, Ramp Travel, leverages AI and automation to simplify the booking and expense management process for business travel. By teaming up with Priceline, Ramp users now have access to a variety of travel inventory including airline tickets and hotel bookings. This partnership was prompted by a noticeable increase in businesses on the Ramp platform utilizing cards and budget allocation for travel expenses, which now account for 20% of annual card spend, up from 10% in 2021.

According to Ramp CEO Eric Glyman, the company’s decision to venture into the travel sector was driven by the significant portion of spending related to flights, hotels, and travel-related entertainment. With over 25,000 businesses onboard, Ramp has positioned itself as a trusted platform for expense management and now travel.

One of Ramp’s key differentiators from other expense management vendors is its focus on not only tracking spending but also helping companies save money through identifying duplicated expenses and negotiating better contracts. This approach will now be extended to the travel domain, challenging the traditional corporate travel model that relies on high fees and limited choices.

Priceline CEO Brett Keller views corporate travel as an outdated system with high costs due to exclusive supplier contracts negotiated by larger companies. By offering Ramp users access to a broader inventory and lower prices, the partnership aims to meet the needs of modern, independent travelers.

In addition to the travel feature, Ramp has introduced Ramp Intelligence and Ramp Plus in the past year, providing finance teams with valuable insights and offering enhanced services for enterprise clients like Shopify. As the spend management space becomes more competitive, Ramp’s expansion into new services is crucial for its continued growth and disruptive impact.

Glyman believes that the inclusion of travel and other offerings will not only strengthen Ramp’s existing client base but also attract new customers. Despite the majority of Ramp customers being VC-free, the average size of companies using the platform has doubled in the last three years, indicating a promising trajectory for the company.

In conclusion, Ramp’s foray into business travel with the launch of Ramp Travel, in partnership with Priceline, marks a significant milestone in the company’s evolution. By diversifying its services and addressing the evolving needs of modern businesses, Ramp is well-positioned to continue its disruptive presence in the industry and attract a broader client base.

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