Project Overview
Cordance, a vertical B2B SaaS acquisition firm, needed a unified financial platform to replace disparate spreadsheets and tools across its portfolio companies. Closeloop implemented a cloud-based NetSuite ERP with SuiteBilling and Advanced Revenue Management, centralizing financial data, automating subscription billing, and enhancing revenue recognition and reporting processes for sustainable growth
Business Challenges
- Disparate financial systems across acquired portfolio companies.
- Lack of standardized billing and revenue recognition workflows.
- Manual data entry and validation introduced errors and delays.
- Difficulty consolidating financial data and reporting across entities.
- Complex pricing models, currencies, and subscription handling.
Solution
- Conducted comprehensive assessment of existing financial tools and data flows.
- Implemented NetSuite ERP with a unified chart of accounts and standardized processes.
- Configured SuiteBilling to manage contract subscriptions and billing logic.
- Set up Advanced Revenue Management for complex revenue recognition.
- Customized workflows to support multi-currency and subscription arrangements.
Approach
- Evaluated current challenges by reviewing systems and stakeholder needs.
- Designed scalable NetSuite architecture to support multiple PortCos.
- Built centralized financial data model with unified accounts and workflows.
- Implemented SuiteBilling contracts and subscription automation.
- Performed integration testing and iterative refinements for revenue and reporting accuracy.
Technology Stack
