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CategoryAnnouncements
Date20 Jul 2022
AuthorJustin Wolz

Introducing: Rho’s NetSuite Integration

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July 20, 2022
4 min read
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Olivia McNaughtenDirector of Product Marketing

Today, we’re excited to announce Rho’s new NetSuite integration, the latest step in our mission to take the friction out of finances. 

Rho’s all-in-one corporate finance platform combines everything leading finance teams need – commercial banking, AP automation, treasury, spend and expense management – into a unified system that boosts productivity, saves money, and frees time for finance teams to focus on growth and strategy.

Now, high-performing businesses that use NetSuite will be able to quickly and accurately reconcile their accounting workflows within Rho’s unified tech platform.

Finance teams spend nearly half their time on manual tasks including transaction entry and reconciliation. Rho’s new automated NetSuite integration eliminates countless hours of that manual work thanks to transaction mapping, allowing your team to use hours saved during month-end closing to focus on high-impact work. 

“Automation is a powerful tool with significant applications in corporate finance,” said Jeremy Klaperman, chief financial officer at Rho. “Our new NetSuite integration is another way that Rho is helping finance leaders remove friction from their finance processes.” 

Shifting Time Savings into Higher Value Activities

Accounting is a critical part of every growing business because it provides a glimpse into the health of your business and – with the right analysis and technology in place – can help identify opportunities for growth. For example, Deloitte’s latest CFO Signals™: Quarterly CFO survey showed that 73% of finance leaders are involved in their organizations’ decarbonization efforts as strategists. 

Time spent doing manual data entry and consolidating information across multiple, often incompatible systems is time away from high-impact decision-making on critical topics such as sustainability that CFOs and finance teams are increasingly being asked to lead. Thanks to the Rho platform’s automation and the NetSuite integration’s custom-built mapping feature, finance leaders can trust their Rho data will cleanly map to the right NetSuite module. 

“As a Controller, you are always looking for new tools to gain efficiencies and minimize risk,” said Vincent Guido, controller at Rho. “The hours our finance team will save using this new NetSuite integration in our own operations offer an early glimpse at how our customers stand to benefit from today’s announcement.”

Embracing 360-Degree Finances

Rho customers use our platform because it offers spend management, banking, and accounts payable automation in a single, integrated user experience. Customers who rely on NetSuite for accounting can now be confident that they’ll be able to quickly and effectively sync all Rho transactions directly into NetSuite - powering a full, end-to-end analysis of their corporate finances. 

At a technical level, our integration setup brings your NetSuite fields directly into Rho, including Vendor, Department, Location, Chart of Accounts, and more. You can then control exactly how transactions appear in NetSuite by creating custom mapping rules using any Rho attribute. With Rho, you aren’t limited to which fields can be mapped—from Merchant and Cardholder to Budget and payee—your business has the ultimate flexibility to define rules that meet your needs. 

The new NetSuite integration with Rho is also designed to handle complex accounting scenarios, including multi-subsidiary and entity scenarios from Netsuite at launch. You can configure and map rules across each of these areas so that transactions are coded properly when they flow from Rho into NetSuite. Our sync will support additional NetSuite accounts, departments, locations, vendors, and more that you add in the future. 

One click and that’s it – all of your transactions will automatically be coded, eliminating the need for manual mapping. For maximum transparency and complete audit trails, receipts and invoices are available in NetSuite, helping your team reconcile with speed. 

Ending Best-of-Breed Integration Siloes

Companies today are faced with finding and implementing separate solutions for card spend, accounts payable automation, banking, and managing employee T&E expenses. Each solution you add comes with a different integration, mapping rules, and separate interfaces for managing transactions. This is why Rho believes in an end-to-end platform that combines automation with all critical corporate finance processes. We’re excited to offer this new NetSuite integration, removing one more point of friction that finance leaders face on their road to helping their companies achieve growth. 

Interested in learning more about Rho’s new NetSuite integration? Reach out today

For press inquiries, please contact press@rho.co