How does
Ramp
Use AI?
Increased operational efficiency and reduced compliance processing time.
Project Overview
Automating extraction of key insights from massive volumes of financial documents and expense reports to streamline spend management and compliance.
Layman's Explanation
Ramp uses AI to automatically read and understand expense reports, receipts, and financial documentation, helping their team monitor and manage spending more efficiently.
Details
Ramp leverages Sierra AI’s large language model technology to extract structured data from unstructured financial documents at scale. This enables their operations and compliance teams to surface key information from thousands of transactions, receipts, and contracts, significantly reducing manual review time. The AI identifies inconsistencies, compliance red flags, and financial patterns, allowing Ramp to maintain accuracy and speed in expense management workflows. According to Ramp, Sierra's system reduced document processing time from hours to seconds, which previously required manual effort from operations and compliance analysts.
Analogy
In the Finance & Insurance industry, this is like having an intelligent auditor that reads every expense and financial report instantly, flagging important details or potential issues before a human even opens the file.
Machine Learning Techniques Used
More Use Cases in
Finance
Novelty Justification
AI-powered document extraction is now standard in spend management and compliance.
Project Estimates
