Eloqua Gains Worldwide Visibility and Room to Scale with NetSuite OneWorld

"You can't grow if you spend all your time in the auditor's department. As a venture-backed company, the transparency and accurate revenue recognition NetSuite provides are critical."

—Eloqua

Results:

NetSuite OneWorld provides transparent roll-up of operations in six countries and four currencies
NetSuite OneWorld provides integrated, sophisticated, and EITF 08-01 compliant revenue recognition functionality
NetSuite manages multi-element contract revenue recognition without resorting to cumbersome spreadsheets or manual processes
Eloqua can centralize accounting functions for all worldwide offices while retaining full currency visibility and regulatory compliance
Several hundred monthly invoices with staggered contract terms are easily managed with small finance staff due to NetSuite efficiencies.

Challenges:

Multi-entity and global currency support vital for fast-growing business
Subscription billing model creates revenue recognition complexities
Most contracts are multi-element, further complicating revenue recognition
Complex business relationships with major customers proved too difficult for other solutions to manage
High-volume business strained previous system
Previous system lacked comprehensive dashboards and seamless reporting.

Solution:

NetSuite OneWorld supports easy expense entry in both native and non-native currencies
NetSuite OneWorld provides intricate, flexible business process flows and contract terms to support Eloqua's engagements with Fortune 500 clients
Dashboards provide management with vital snapshots into current cash balance, customer contract, and invoice status
NetSuite OneWorld provides head room for long-term scalability
NetSuite attaches all customer contact notes to invoices and customer accounts, clarifying long-term business relationships at a glance.