Ajitgarh, 160071,
India
Closeloop Technologies
Closeloop Technologies, a prominent reseller, system integrator, and consulting company, that plays a vital role in numerous system integration and digital transformation initiatives. Closeloop Technologies collaboration with software players such as Oracle empowers organizations to embrace disruptive technologies and accelerate their journey to the cloud, thus reshaping their business models.
| Reseller and SI | Vendor | Application | Category | Market |
|---|---|---|---|---|
| Closeloop Technologies | Oracle | Oracle NetSuite ERP | ERP Financial | ERP Financial Management |
| Logo | Customer | Industry | Empl. | Revenue | Country | Vendor | Product | Category | When | Insight |
|---|---|---|---|---|---|---|---|---|---|---|
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Cordance Operations | Professional Services | 200 | $30M | United States | Oracle | Oracle NetSuite ERP | ERP Financial | 2020 |
In 2020, Cordance Operations implemented Oracle NetSuite ERP to consolidate financial operations for its acquire and scale model focused on vertical B2B SaaS portfolio companies, using the ERP Financial platform to unify accounting and subscription finance workflows. The engagement was executed by Closeloop Technologies following a comprehensive assessment and requirements gathering effort that documented fragmented spreadsheet-based processes, multiple pricing models, and multi-currency complications across PortCos.
Closeloop proposed a scalable solution architecture centered on Oracle NetSuite ERP, deploying the SuiteBilling module for contract processing and billing operations and implementing Advance Revenue Management to handle complex revenue recognition requirements. The implementation included configuration of contract-to-cash workflows, automated invoicing routines to reduce manual entry, and standardized chart of accounts and transaction classifications to support subscription revenue accounting.
Operational coverage focused on the corporate finance function and consolidation of PortCo financials, addressing data integration and reporting challenges from disparate ERPs and small financial tools. The solution standardized billing and revenue recognition across acquired entities, improved integrity of consolidated reporting for subscription revenue, and handled multi-currency considerations as part of the NetSuite configuration.
Governance changes included standardized financial processes and deployment pacing coordinated with Closeloop Technologies, with the SuiteBilling module and core process standards implemented within six weeks. Outcomes reported by the project included improved management of financial data and subscription processes, streamlined revenue recognition and invoicing workflows, and enhanced financial reporting capabilities for subscription revenue using Oracle NetSuite ERP.
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Buyer Intent: Companies Evaluating Closeloop Technologies Services
- Evon Technologies, a India based Professional Services organization with 425 Employees
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