Cigniti Technologies Achieves 5x Faster Billing

Cigniti Achieves 5x Faster Billing, Automates Multi-Subsidiary Consolidation With NetSuite OneWorld and OpenAir

Cigniti Technologies is a global leader in providing strategic digital assurance, software quality engineering, testing, and consulting services. It helps enterprises test the quality of their software, business process automation and Internet of Things-enabled applications. From airline and hospitality to financial services and logistics, more than 60 Fortune 500 and 80 Global 2000 companies trust Cigniti to accelerate their digital operations and improve their software functionality, performance and security.

Company

Cigniti

Location

Hyderabad, India

Industry

Professional Services

EMPLOYEES

1,000 to 4,999

Revenue

$49 million USD

Number of Countries

Number of Subsidiaries

NETSUITE PRODUCTS IMPLEMENTED

NetSuite OneWorld
NetSuite OpenAir

IMPLEMENTATION PARTNER

Filix Consulting

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“NetSuite provides us the scalability and visibility we need to deliver products better, faster and more efficiently.” Jagdish Kumar, Senior Vice President, Cigniti

Digital Assurance Demands an Assured ERP Solution

Engineering growth: Headquartered in India, Cigniti’s digital services have expanded to include intelligent automation, big data analytics, cloud migration assurance, 5G assurance, and customer experience assurance. With more than 3,300 employees across 11 offices and seven subsidiaries in nine countries, Forbes has recognised it as one of “Asia’s 200 Best Under A Billion” companies, and it’s grown an average 7% year-on-year since its founding in 1998.

Manual processes prove challenging: With its large customer base, Cigniti generates around 700 invoices per month. The team was using spreadsheets to manage these, resulting in a billing process that took up to 25 days. Creating quarterly financial statements required manually consolidating financial data from its seven subsidiaries operating in nine currencies, a process that took two weeks or more to complete.

Simplifying finance and accounting: Cigniti deployed NetSuite OneWorld two years ago, alongside OpenAir, NetSuite’s professional services automation (PSA) solution. Cigniti now automatically consolidates its financial data in real time, including outstanding payables and receivables, across its subsidiaries. It’s shortened the customer billing process to five days and the partner billing process from three weeks to one. Furthermore, the team has halved its quarterly audit time to three weeks.

Ready to expand more horizons: With NetSuite OneWorld, Cigniti leadership is confident about growing into Singapore and the Czech Republic, as they know the company can operate seamlessly across subsidiaries and add new currencies while complying with each country’s tax and regulatory requirements. It also plans to further reduce the customer billing process to two days by better optimising OpenAir’s invoicing capabilities.