Rho named Best Power Partner Provider for SMBs by Inc. Magazine

For providing best-in-class banking and payment solutions for the middle-market
Author
Justin Wolz
Head of Marketing
Published
October 24, 2023
read time
1 minute
Reviewed by
Updated
February 21, 2024

We are honored to announce that Rho has been named to this year’s Inc. Magazine Power Partners list.

This annual award recognizes world-class B2B providers who deliver “goods or services that free up founders, entrepreneurs, and CEOs to focus on what they do best.”

Since Day 1, we’ve built the Rho platform to help the finance teams powering American middle-market businesses do just that – achieve more in less time.

Finance teams run faster on Rho.

Control spend, boost efficiency, and earn up to 1.25% cashback with Rho.

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Building the finance automation platform trusted by the middle market.

Every product and capability we introduce to the Rho platform is carefully designed for the owners, operators, CFOs, controllers, and finance teams that serve as the backbone of American businesses.

Each time, we ask ourselves the same set of questions. What manual processes frustrate finance pros and keep them away from high-impact work? How can we create a delightful user experience that solves that problem in a way that augments their existing processes?

Finance teams spend too much time on manual minutiae, preventing them from more strategic work.

To some, that means hours spent hunting down expense receipts, manually coding transaction data in preparation for month-end, or processing hundreds of vendor bills.

Others lack adequate tools to effectively control spending or ensure they earn the right yield on their surplus cash with the limited hours in their day. Some businesses we work with experience all of the above. 

So, we built Rho to tailor and scale to our customers’ needs to help them work better with money and eliminate the manual processes that get in the way of running their businesses. And all without having to cobble together 4-6 expensive point solutions that don’t talk to one another. 

Here is a brief snapshot of the finance champions Rho has supported since launching.

Native Strategies breaks expense bottlenecks, not the budget.

Native Strategies has experienced massive demand for its architectural design services over recent years, and CFO Tyler Majors needed a robust spend management platform to help scale the organization.

He needed the system to come at no extra cost, unify his finance stack across banking and expenses, and allow him to get more done without additional headcount. 

After a quick implementation with QuickBooks, adding more employees no longer strains the company’s spend management and accounting processes.

A major result: Native Strategies delayed the need for a NetSuite upgrade and additional senior accountant hire by a full year.

Thanks to the efficiencies gained by the platform, Rho has allowed me to delay an expensive NetSuite upgrade and a senior accounting hire by at least a year. What used to take 30-40 hours of my time can now be handled in minutes, which cannot be understated if you are a CFO focused on strategy. Tyler Majors, CFO at Native Strategies

Best Bay Logistics makes multi-entity accounting easy.

Propelled by demand and a reputation built by supply chain problem-solving, Best Bay Logistics has quickly transformed from a small logistics broker to a thriving middle-market company, operating multiple entities.

As the company scaled and the volume of daily transactions grew, Best Bay Logistics brought in VP of Finance Nikesh Patel, a seasoned finance leader, to streamline the 100-person-plus finance organization to support future growth and grow market share.

Following the successful implementation, Rho has since enabled Best Bay Logistics to achieve a live transaction data feed that maps expenses to specific GL codes in NetSuite.

For Best Bay Logistics, Rho has equipped the finance team with the tools to scale as the business grows without adding unnecessary headcount expenses.

Rho helps us uphold a culture of accountability. Not having to chase employee receipts and eliminating hours of the time the finance team previously spent reconciling our transaction data has made our jobs easier and our team more effective. – Nikesh Patel, VP of Finance at Best Bay Logistics

Dr. Squatch boosts capital efficiency and saves thousands.

Dr. Squatch's record-setting growth—a standout in the hypercompetitive CPG space—forced its already lean finance team to reevaluate its previous patchwork spend management system that made expense tracking and transaction coding difficult to scale.

Their secret to continued success: centralized financial operations. Bring all spend management into the Rho platform, synced directly to NetSuite, automating expense management and reconciliation while unlocking better capital efficiency as the company looks to grow sustainably.

Rho's platform and unique credit underwriting model have transformed our finance operations. It's not just about having an integrated financial system; it's about doing more with less. With Rho, each of our finance team members can achieve the output of 10.

We’re just getting started.

To date, we’ve helped our customers save thousands of hours, generate thousands of dollars in meaningful yield on their cash, and process thousands of vendor payments, reimbursements, and corporate card purchases with tight spend controls

We’re honored to be mentioned by Inc. for the work we’ve done since Day 1, and we can’t wait to share several new exciting additions we will be rolling out to the Rho platform to keep helping American businesses save time, control spend, and focus on what really matters to their business. 

Interested in demoing the Rho platform? Get in touch today.

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Rho is a fintech company, not a bank. Checking and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management, LLC and its partner banks. Conditions apply.