A free agent at the age of 27, in 1995, he was signed by Bologna at the request of the club's sporting director at the time, Gabriele Oriali; Paramatti would make a name for himself with the club due to his consistent performances, eventually being named Bologna's captain. During his first season with the club, he helped Bologna to obtain Serie A promotion, winning the 1995–96 Serie B title. During the 1997–98 season under manager Renzo Ulivieri, he played alongside several notable players, such as Roberto Baggio, Giancarlo Marocchi, Igor Kolyvanov, and Kennet Andersson, helping Bologna to qualify for the 1998 UEFA Intertoto Cup. Bologna won the tournament the following season under Carlo Mazzone, qualifying for the 1998–99 UEFA Cup; the club would go on to reach the semi-finals of the competition, with Paramatti scoring in the return leg against Olympique Marseille. That season, the club also managed a semi-final finish in the Coppa Italia.