SwagUp Founder and CEO, Michael Martocci spoke at Ramp’s Builder’s Conference at the Customer Roundtable. He engaged in an in depth conversation with other Ramp users about the various use cases for their services and SwagUp uses Ramp specifically as well as finance best practices.
Ramp helps thousands of businesses control spend, save time, automate busywork and save. By using powerful cards and expense management, they give the customer time and dollars back in their pocket. Ramp builds new software every day to transform the way businesses manage and spend money. They are quickly becoming America’s fastest-growing corporate card and top-rated software and are a proud partner and supporter of SwagUp.
How have you structured your finance team and what matters most to you?
Michael speaks about how finance and accounting products help companies like SwagUp manage cash flow.
“My first main hire was a finance hire… I knew I wanted to focus on product and growth and sales and marketing, and not have to worry about [finance]. To have the peace of mind that he was there allowed us to run a lot faster.”
Michael explains that investing in finance accounting teams is integral to the growth of a business that often gets overlooked. The finance team really helps cashflow and collection of money in a timely manner. These teams also help gather and make sense of the financial data that allow for startups to raise money.
Most Important Metrics: According to Michael
- Cash conversion cycle – how many days it takes a company to convert cash it spends on inventory back into cash by selling its product. The shorter a company’s CCC, the less time it has money tied up in accounts receivable and inventory.
- Free cash flow – what is left after a business pays its day-to-day operating expenses, such as rent, payroll, taxes and inventory costs. It is a key measure of profitability that excluded non-cash expenses listed on the business’s income statement.
- Contribution Margin – measure of the amount of revenue left over after subtracting the variable costs associated with producing a product or service. It is used to determine how much of each sale contributes to covering fixed costs and ultimately to the profit of the business.
- Discounted Cash Flow – attempts to determine the value of an investment today, based on projections of how much money that investment will generate in the future.
What value has Ramp provided SwagUp?
Michael indicates the most important value that Ramp provides to companies like SwagUp is control. Within the Ramp platform, administrators are able to set limits and make changes to employee access to company cards easily and as often as needed. It also consolidates all spending information across all company cards to allow you to see every transaction with detailed vendor information. The reporting capabilities and peace of mind make Ramp and excellent financial partner.
SwagUp is the swag platform for the modern workplace revolutionizing the way people create, automate and distribute swag. SwagUp started with the idea that they could consolidate the customer’s workflows and streamline the process under one vendor. With over 5,000 customers, SwagUp is a leader in the promotional products industry.
Did you know that you could get 10% off your swag when you use your Ramp card? Find out more here.
