Attention growth-minded companies: ServiceRocket is partnering with Rho.
The partnership brings together two powerful resources, particularly for CFOs and CAOs.
With its automated finance platform, Rho enables companies to manage their spend and cash from a single location, trade silos for seamlessness, minimize time spent on manual minutiae and spend more time running their business.
ServiceRocket’s NetSuite Managed Services provides deep platform expertise, from administration to integration and custom development, that enhances productivity by breaking down silos between finance and other key business functions.
Both companies know the plight of CFOs and how NetSuite can help.
“When combined with time optimization, better data helps produce high-impact outcomes,” says Jeremy Klaperman, CFO at Rho.
“An optimized platform also generates greater transparency and trust between functions and leaders in a company,” adds Joy Mbanugo, CFO at ServiceRocket.
The two CFOs exchanged intel about NetSuite’s capacity to help growth-minded businesses scale more efficiently.
Jeremy: The middle-market companies we support typically have separate providers for commercial banking, corporate cards, AP, and expense management, which results in a disjointed finance stack. That makes it challenging to control spending and effectively manage the business.
In this scenario the finance team spends too many hours managing manual processes and information reconciliation.
Joy: NetSuite automates time-consuming manual financial data sharing and migration and reduces financial transaction errors and financial reporting time by close to 40%.
It also provides a customizable KPI dashboard that displays the most important metrics a CFO must know to tell the company’s money story at a high level, which they can dive deep into very quickly and easily to find specific details.
The forecasting function can also help finance teams save time doing forecasting in excel or sheets where there can be version-control issues. The NetSuite tool also allows you to build off of prior year versions and track overall performance after you complete a forecast.
Jeremy: We released our native NetSuite integration to help eliminate this problem. Our clients can easily sync all Rho credit card and banking transactions and bill data to the general ledgers with the proper GL codes and correct coding in NetSuite.
This makes it easier to keep their books accurate and up-to-date in significantly less time so they can focus on higher-impact business activities.
Jeremy: ServiceRocket has extensive experience helping companies implement and make the most of their NetSuite instances, while Rho helps corporate finance teams to easily manage employee expenses, bill payments and cash.
Our combined efforts can help businesses integrate other finance processes into their core ERP to unlock new value and save valuable time.
If your team is taking significantly more time to perform basic finance functions, especially as your business grows in size and complexity, that’s a clear signal to reevaluate your current systems and see if there is a better way forward.
We’re here to help.
Joy: NetSuite breaks down organizational silos in multiple ways. The first is through system integration, which enables automated data sharing.
That makes NetSuite the central source of truth for business data.
Secondly, leaders can document operations and resources that are needed to complete projects. As a result, project management work that involves multiple departments (and everyone else) has one, unified platform to communicate and collaborate with each other.
Joy: NetSuite is great for real-time reporting. The KPI feature allows you to build custom dashboards—a godsend for CFOs who want to track cash burn, EBITDA, margins, etc. It’s also beneficial for creating forecasts, which means you can also layer in other reporting.
With the power to create dashboards and custom reports, CFOs can provide company management and boards with real time and accurate/actionable information.
Joy: Absolutely! As a single unified system of data truth, NetSuite gives CFOs and CAOs greater insight into operations across departments. Improved data access also provides CFOs and CAOs the opportunity to execute growth strategies and build financial models that drive successful impacts and influence across the company.
If the executive team needs to make decisions regarding hiring or expense management, NetSuite reporting is invaluable. If an area is underperforming compared to prior periods, CFOs can point that out.
It can also help the CFO do various types of modeling and discover opportunities to drive more revenue or do scenario planning with the executive team.
Jeremy: Giving CFOs and finance teams greater visibility over their spend and cash reduces the time it takes to perform essential operational tasks. That leaves more time to focus on strategy and the future.
Joy: “I couldn’t agree more!”
NetSuite can be a real game changer for your business. Visit the NetSuite Managed Services page to learn more.
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