Rho and Navan launched an integrated financial suite that customers can use to manage corporate travel and expenses, enforce expense policy compliance, submit payments, and close the books.
The co-branded solution combines functionality from Rho Corporate Cards and Navan's travel and expense super app, the companies announced in a press release on Thursday (May 23).
“With Rho, Navan customers now have access to a ready-to-go financial toolset from a trusted financial partner that enables businesses to proactively manage spend as they scale, while improving operational efficiency and allowing them to focus on their most important goals,” Michael Sindicich, CEO of Navan Expense, said in the release.
The solution is powered by Navan Connect, which integrates Rho Corporate Cards with Navan's travel and expense platform, allowing companies to add and manage Rho Corporate Cards directly within Navan, according to the release.
This feature will eliminate the need for companies to use separate vendors and applications for corporate cards, bill payments, travel bookings, expense management and business banking, the release said.
According to the release, the new joint solution enables companies to generate Rho Corporate Cards with customizable pre-spend rules, configure Navan expense rules to enforce spending policies, process expense reimbursements, manage employee travel bookings and streamline reconciliation of bank statements and credit card transactions.
“We're excited to partner with Navan to help companies simplify their finance stack, saving them time and money,” Everett Cook, co-founder and CEO of Rho, said in the release.
In a previous product announcement in August, Rho said it was adding new artificial intelligence (AI)-powered accounts payable (AP) capabilities to its all-in-one financial platform.
These AP automation capabilities enable customers to configure one-click workflows, process thousands of payments in seconds, better manage cash flow and compliance, and centralize financial operations.
Meanwhile, Navan partnered with Citi in October to launch a travel and expenses system for Citi Commercial Bank (CCB) cardholders.
The partnership will combine Navan's all-in-one solution with Citi's commercial card solutions using Navan Connect to provide a seamless digital experience for Citi Commercial Bank cardholders, the companies announced at the time.
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