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
Updated
October 8, 2024
Read time
7

Spending made smarter

Eliminate annoying banking fees, earn yield on your cash, and operate more efficiently with Rho.

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.

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.

Justin Wolz
November 28, 2024

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Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank N.A., member FDIC. Savings account services provided by American Deposit Management Co. and its partner banks. International and foreign currency payments services are provided by Wise US Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
The Rho Corporate Card is issued by Webster Bank N.A., member FDIC pursuant to a license from Mastercard.
Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC-insured. Investments are not bank guaranteed, and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not future results. Registration with the SEC does not imply a certain level of skill or training. Treasury and custodial services provided through Apex Clearing Corp. ("Apex") and Interactive Brokers LLC ("Interactive"), registered broker dealers and members FINRA/SIPC. Interactive rates may vary from Apex rate shown above. For additional information about investment management and advisory services provided by Rho Treasury, please refer to Rho Treasury’s ADV-2A Wrap Fee Brochure.
             
This material presented is for informational purposes only and should not be construed as legal, tax, accounting or investment advice. Under no circumstances should any of this material be used for or considered as an offer to sell or a solicitation of any offer to buy an interest in any securities. Any analysis or discussion of financial planning matters, investments, sectors or the market generally are based on current information, including from public sources, that we consider reliable, but we do not represent that any research or the information provided is accurate or complete, and it should not be relied on as such. Our views and opinions are current at the time of publication and are subject to change. You should consult with your attorney or relevant professional advisor for advice particular to your personal or business situation.
                  
Rho Treasury is not insured by the FDIC. Rho Treasury are not deposits or other obligations of Webster Bank N.A., or American Deposit Management Co.’s partner banks, and are not guaranteed by Webster Bank N.A., or American Deposit Management Co.’s partner banks. Rho Treasury products are subject to investment risks, including possible loss of the principal invested.
*This reflects the sought net yield based on 90-day Treasury Bill rates as of [DATE] and an annual fee which ranges from 0.15% for deposits of $20M or more to 0.6% (the maximum annual fee) for deposits under $2M. Individual results may vary depending on the actual investment date and investment products selected. Past performance is not a guarantee of future performance results. The yield is variable and fluctuates without prior notice. The rate shown is net of fees. The amount of Treasury Bills available at a particular yield will depend upon the sellers’ offer size; any remaining cash balance after the purchase may not earn the same yield.
© 2019-2024 Under Technologies, Inc. DBA Rho Technologies. Rho is a trademark of Under Technologies, Inc.

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 Co. and its partner banks.