Based in the Washington, D.C. metro area, Rubino & Co. accounting firm provides a full service offering to their clients when they need tax advice, financial services, and day-to-day accounting. Rubino began by providing accounting services in the government contracting space, and then expanded into trade associations, philanthropic associations, and for-profit entities.
Rubino’s client advisory services (CAS) group initially developed to serve smaller clients who did not necessarily need in-house accounting staff. Today, 10 years later, this segment of the firm’s business serves a broad spectrum of customers across many industries.
“Rubino offers a customizable solution for clients, whether it's treasury, whether it's accounts payable, we can do it all,” says Kirsten Coombs, CPA, MBA, Accounting Manager at Rubino. “Through the years, our CAS practice has grown to include every type of business. We have medical practices, we have biotech companies, we have e-commerce.”
When Rubino takes on a new client, they often encounter a similar set of problems in terms of accounting practices: slowness and inaccuracy in recording; duplication of efforts; and a cumbersome approval process for accounts payable. Documentation is also a common issue, with the firm having to chase down files and make copies to submit to auditors.
All of these challenges have a common origin—reliance on manual and paper-based processes. For Rubino, getting bogged in manual processes like data entry detracts from their ability to act as a strategic advisor.
“We tell clients, ‘This is our tech stack, and BILL is a part of that.’ We drive that change.”
Rubino CAS technology stack includes BILL Accounts Payable, BILL Accounts Receivable, and BILL Spend & Expense.
BILL Accounts Payable is a requirement for their clients. “We tell clients, ‘This is our tech stack, and BILL is a part of that.’ We drive that change,“ says Coombs. “If a client is using their bank’s online bill pay, we ask them to end that practice, because using BILL for AP and AR is what is going to help us help you.”
Rubino has also added BILL Spend & Expense and is rolling it out to clients. The expense management software, in conjunction with physical and virtual cards1, makes it easy for Rubino and their clients to track and manage their spending.
When she started at Rubino, Coombs was new to BILL, but she had no problem getting up to speed thanks to robust support from the BILL team. “My favorite thing about BILL is the support. When I chat with somebody, getting help from them is so easy,” Coombs says.
“If a client is using their bank’s online bill pay, we ask them to end that practice, because using BILL for AP and AR is what is going to help us help you.”
BILL Accounts Payable puts Coombs and her team in the driver’s seat. “I like the dashboard of BILL, being able to see spending, the status of bills, and the inbox convenience of things coming in and getting automatically read,” says Coombs. “BILL makes it easy to do the recording because all of the stats are in one place. It gives me a good dashboard to manage my day.”
Having invoices in BILL also makes communication easier. “I love being able to put notes with an invoice, which then creates a record of what was going on. Then we have the records saved in BILL,” she says.
The benefits of BILL automation and digitization extend to the auditing process. “BILL allows us to set up individual workflows so we can easily see audit trails,” Coombs explains. “We can give auditors access to documentation within BILL so they can see invoices. We no longer have to deal with assembling documents.”
These conveniences and efficiencies have resulted in tangible benefits for Rubino.
“We have a pharmaceutical vendor for one of my medical companies, and getting the invoices in and having them automatically get coded probably saves an hour and a half each week, which is huge. And that's just for one client and one vendor. With 45 clients, that adds up to 270 hours a month in time savings from BILL,” adds Coombs.
“Six hours a month we save having invoices automatically coded. And that's just for one client and one vendor. With 45 clients, that adds up to 270 hours a month in time savings from BILL.”
In addition to easing the burden of routine accounting tasks, BILL also helps Rubino in their role as consultants, especially in terms of cash flow management.
“Being able to get information from BILL into the accounting software quickly and efficiently makes it easier to provide financial reporting and do cash flow projections,” Coombs explains. “One of my clients recently came out of bankruptcy, so cash flow is hugely important for them. Being able to analyze information in BILL is very important in terms of a value-added service we provide our clients.”
Finally, Rubino has plans to grow, and finding and hiring staff in the accounting industry can be a challenge. Having BILL as part of their tech stack helps them both recruit and retain talent.
“Most of the people we hire have BILL experience,” says Coombs. And in turn, training on BILL is a priority for Rubino, which makes the firm more attractive to candidates. As a BILL partner, Rubino gives staff access to the BILL Certification Program, which helps accounting professionals in their professional development. Accountants can achieve certification status and earn up to 5.0 CPE Credits by successfully completing the course.
BILL is an easy sell for Rubino’s clients. “Our SMB clients feel they need BILL Spend & Expense because they don't know how to control spend,” explains Coombs.
BILL Spend & Expense is popular with their clients because it makes it easier for them to categorize expenses, and they don't have to be accountants to use the tool. They also love virtual cards, which give them invaluable spend control.
“Being able to adjust the budgets on cards and cancel cards for people, I appreciate that BILL functionality,” Coombs says. “Especially in small businesses, there isn't always a separation of duties and people have their hands in too many things. Having external processes like BILL is helpful to keep businesses in line and provide some accountability.”
Coombs continues, “Clients also like the payment process and the confirmations of payments. We have printed checks saved in the system, if needed, which gives them assurance that their money is going to the right place.”
“Our SMB clients feel they need BILL Spend & Expense because they don't know how to control spend.”
Security with BILL is another point of emphasis for clients. “Security and phishing have become a big concern for clients over the last couple of years,” says Coombs. “BILL makes security a lot more streamlined because everything is happening in one secure, centralized place, so it's easier to detect any fraudulent activity. We know everything happens in BILL, so if it's not coming from BILL, then don't trust it.”
Clients appreciate that BILL provides security with e-payments. “Payments are managed by the vendor, which makes me feel secure that it is being taken care of and the vendor has access to their own information,” Coombs says. “The security of the payment systems makes clients—and us—feel secure about using BILL.”
In the new world of remote work, BILL has become a vital capability for Rubino’s clients.
“Clients like using the approval workflows on the BILL app. They are able to see projections of cash flow, and if they have a spare moment during their day, they can go in and approve invoices,” Coombs says.
“The security of the payment systems makes clients—and us—feel secure about using BILL.”
Rubino primarily uses Sage Intacct and QuickBooks Online, both of which integrate with BILL. “I like that BILL uses the chart of accounts from the accounting software so that we don't have to do anything else. It just integrates seamlessly,” Coombs says. “BILL's integration with general ledger systems made us choose BILL.”
The integrations have a direct impact on Rubino’s workflows. “I had a new client who was duplicating efforts, entering stuff in BILL and then entering it into QBO, which drives me nuts,” she says. “So, integrations are key. Being able to sync with BILL on a periodic basis with my accounting packages is crucial.”
In short, BILL provides Rubino with the technology they need to help clients manage cash flow. “I don't know how we would do CAS without BILL,” Coombs says.
With BILL, Rubino & Co. has built a modern accounting tech stack with the automation and digitalization to power their CAS practice. Going forward, they can be certain that financial operations are going to speed them up, not slow them down.
“I don’t know how we would do CAS without BILL.”
1 Card issued by Cross River Bank, member FDIC.
Rubino provides public accounting, tax advisory, regulatory consulting, and financial services to clients in the Washington, DC, metropolitan area and nationwide.
Accounting services for Government Contractors, Nonprofits, Real Estate, Housing Authorities, Other
100+
Bethesda, MD
2016
QuickBooks Online, Sage Intacct
