Ramp launches construction spend controls for projects

Ramp has launched Ramp for Construction, aimed at construction companies that need tighter control over project costs.

The offering combines card payments, expenses, accounts payable and enterprise resource planning data in a single system for construction users. It is designed to attach job, cost code and budget information to spending as it happens, rather than after month-end reconciliation.

Construction businesses operate on thin margins. Ramp cited industry data showing an average pre-tax profit of less than seven cents per dollar of revenue. In that context, delays in linking field purchases, invoices, committed costs and budget changes can make it harder for finance teams and project managers to spot overspending before work is completed.

Field coding

The product limits cardholders to the job, cost code and cost type options that apply to their project, using structures already set up in a company's ERP system. In practice, a site worker or foreman can upload a receipt and assign it to a pre-filtered project list at the point of purchase.

Ramp said more than 70% of receipts are matched within 24 hours and that transactions are accurately coded at submission 2.7 times more often. That allows accounting teams to receive the charge, receipt and project coding on the same day rather than waiting until the close process.

A customer cited by Ramp described the administrative impact on site teams.

"Our teams should be focused on construction, not bureaucracy and paperwork. The real-time reminders, coding, and controls make their jobs and lives easier," said Chris Moberger, Controller, Construction One.

Budget oversight

Ramp said the system brings together card spending, bills and purchase order activity in one project budget view. Finance teams can set limits by project, vendor, cost code or role, restrict card use to approved suppliers and receive alerts as spending approaches a project budget.

Expenses or bills that need review can be routed to the project manager responsible for that job, with project and budget details attached. Ramp said this also supports oversight of subcontractor work by tracking billed amounts, outstanding commitments, retained balances and payment readiness.

Payment controls

The product also includes a workflow for pay applications and retainage. Ramp said it keeps the pay application, purchase order, retained balance and compliance documents in one process, and checks whether required documents such as lien waivers, W-9 forms and certificates of insurance are present before payment is released.

According to Ramp, bills are processed 2.4 times faster than with legacy systems, while teams save more than 15 hours a month on retainage tracking and compliance document review.

Another customer referenced in the launch said the software reduced the need for separate reporting when reviewing subcontractor invoices against committed amounts.

"I drop the invoice in and Ramp pulls all the amounts, retainage included, and matches it against what's committed on the PO. It updates in real time as I enter invoices and change orders, so when it's time to release, I just check the balance in Ramp and release it, no separate report needed," said David Anderson, Accountant, Dick Anderson Construction.

ERP links

According to Ramp, the construction-focused product works with several ERP systems already used in the sector. Those include Viewpoint Vista, Viewpoint Spectrum, Sage 100 Contractor, Sage 300 CRE, Sage Intacct, Sage Intacct Construction, CMiC, Acumatica, NetSuite and QuickBooks Online.

The launch reflects a broader effort by finance software providers to tailor spend management and accounts payable products to industry-specific workflows, particularly in sectors where project accounting, subcontractor payments and compliance checks create more operational complexity than in general corporate spending.

For construction companies, the central issue is timing. Once materials are delivered, labour hours are logged, and subcontracted work is complete, the cost is fixed, leaving managers with fewer options to protect margin if they gain visibility only after the fact.

Ramp argues that bringing spend, budget and payment data together earlier in the process gives project and finance teams a chance to intervene while a job is still in progress, rather than after costs have already hit the ledger.