Yes. PPC SaaS is designed to save you money and give you the best value for your ad-spend. No matter what smart bidding option you select, "Rank based", "Budget based", "ROI based", etc. you may always cap the maximum bid you want to spend on either the keyword level or the campaign level.
At the keyword level you would limit your max bid by entering a value on the Keywords Screen.

To limit the Max Bid for an entire campaign, you would set the value on the Bidding Strategies Screen, The value you set for the campaign may be overridden at the keyword level.
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