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Technology · head to head

Close vs Thought Machine

Close logo

Close

Technology

The inside sales CRM of choice for startups & SMBs

From
$9/month
Rated
-
Full reviewWebsite
Thought Machine logo

Thought Machine

Technology

Cloud native core banking where products are written as smart contracts

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Close hidden costs beyond subscription: calling charges (~$0.02/minute), SMS usage fees, phone numbers ($1-5/month), AI call assistant ($50/month + $0.02/min transcription); Thought Machine a core replacement is a two to four year programme at an established bank, and the licence is a minority of total cost against system integrator fees, parallel running and data migration.
  • They diverge on capability: Close covers Built-in calling, Thought Machine covers Smart contract product engine.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Close and Thought Machine actually diverge.

Attributes where Close and Thought Machine differ
AttributeCloseThought Machine
Starting price$9/monthOn request
Pricing modelUnknownquote
PlatformsWeb, iOS, AndroidWeb, API, Cloud
Founded2013Unknown

Identical on both: free tier (No), user rating (Not yet rated), category (Technology).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Close

  • Built-in calling
  • Email automation
  • SMS messaging
  • Pipeline management
  • Lead management
  • Activity tracking
  • Reporting
  • Mobile app

Only in Thought Machine

  • Smart contract product engine
  • Cloud native architecture
  • Real time ledger
  • Vault Payments
  • API first design
  • Multi entity and multi currency
  • Product versioning and testing
  • Configurable posting rules

What people use each for

The jobs each tool is most often brought in to do.

Close

  • Inside salesnot Thought Machine
  • Outbound salesnot Thought Machine
  • Lead managementnot Thought Machine
  • Sales engagementnot Thought Machine
  • Pipeline trackingnot Thought Machine

Thought Machine

  • A large bank launching a separate digital brand on a clean core rather than migrating the back booknot Close
  • A bank whose product launches are blocked by vendor change requests on a legacy corenot Close
  • An institution needing real time balances and postings for instant payment obligationsnot Close
  • A group consolidating multiple country cores onto one multi entity platformnot Close

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Close

  • Hidden costs beyond subscription: calling charges (~$0.02/minute), SMS usage fees, phone numbers ($1-5/month), AI call assistant ($50/month + $0.02/min transcription)
  • No built-in lead lists, company intelligence, or contact enrichment; must source leads separately
  • Limited marketing automation compared to competitors like HubSpot; lacks lead scoring and nurturing campaigns
  • Calling cost at scale can double effective monthly cost for high-volume SDR teams making 50+ calls per day
  • Limited customization of data model compared to Salesforce; cannot create fully custom objects or complex relationships

Thought Machine

  • A core replacement is a two to four year programme at an established bank, and the licence is a minority of total cost against system integrator fees, parallel running and data migration.
  • The smart contract model presumes a bank can write and maintain Python financial products, and institutions without that engineering capability end up outsourcing the very flexibility they bought.
  • Cloud infrastructure cost sits with the bank and is not trivial at scale, so total cost of ownership comparisons against a hosted legacy core often miss a large recurring line.
  • Thought Machine has made two rounds of job cuts pursuing profitability, which is a legitimate supplier stability concern for a system a bank expects to run for fifteen years.
  • The functional footprint is core ledger and product engine, so origination, collections, regulatory reporting and channels all come from other vendors, and the integration estate around Vault is the bank's problem to design and own.

Pricing, plan by plan

Close

$9/month
  • Solo$9/month (annual)
    • 1 user only
    • 10,000 leads max
    • Calling, email, SMS
  • Essentials$35/month (annual)
    • Unlimited contacts
    • Team collaboration
    • 1,000 AI credits/month
  • Growth$99/month (annual)
    • Automation workflows
    • Power dialer
    • Bulk email
  • Scale$139/month (annual)
    • Role-based permissions
    • Predictive dialer
    • Unlimited recording

Thought Machine

On request
  • Vault Core$undefined/year
    • Quoted per institution, typically on account volumes or annual contract value
    • Implementation and system integrator costs commonly exceed the licence fee
    • Cloud infrastructure costs are the bank's and are not included

Which should you pick?

Choose Close if

  • You need built-in calling.
  • You work on Web, iOS, Android.
  • You also want email automation.
Close review

Choose Thought Machine if

  • You need smart contract product engine.
  • You work on Web, API, Cloud.
  • You also want cloud native architecture.
Thought Machine review

Questions people ask

Is Close or Thought Machine better?
Neither clearly leads. Close starts at $9/month and Thought Machine at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Close or Thought Machine?
Close starts at $9/month and Thought Machine at On request.
Does Close or Thought Machine run on more platforms?
Close runs on Web, iOS, Android. Thought Machine runs on Web, API, Cloud.
What is Close best used for?
Close is most often used for inside sales, outbound sales, lead management, sales engagement. Of those, inside sales and outbound sales are not what Thought Machine is typically brought in for.
What can Close do that Thought Machine cannot?
Close covers Built-in calling, Email automation, SMS messaging, Pipeline management. Thought Machine covers Smart contract product engine, Cloud native architecture, Real time ledger, Vault Payments.

Answered from the vendors’ own pages

Close: What are Close's pricing plans and what do they include?

Close offers four plans: Solo ($9-19/user/month), Essentials ($35-49), Growth ($99-109), and Scale ($139-149). All include calling, email, SMS, and Chloe AI agent access. Essentials adds unlimited contacts and team collaboration. Growth adds automation, power dialer, and custom activities. Scale adds role-based permissions and unlimited recording. Annual billing saves up to 50%.

Source
Thought Machine: Is Vault Core genuinely cloud native?

Yes. It is containerised, runs on Kubernetes on public cloud, and posts in real time rather than in overnight batch.

Close: What are the hidden costs in Close's pricing beyond the subscription?

Close charges usage-based fees for calling (~$0.02 per minute), SMS charges per message, and phone number rentals ($1-5/month). The AI Call Assistant add-on costs $50/month plus $0.02 per minute for transcription. Heavy outbound calling teams can see their total costs increase 30-50% beyond the base seat price.

Source
Thought Machine: How long does a migration take?

Eighteen months at the absolute fastest for a narrow greenfield launch; two to four years for a phased migration at an established bank.

Close: What is Chloe, Close's AI sales agent, and what can it do?

Chloe is an AI sales agent built into Close that automatically calls leads, qualifies prospects through real conversations, and can book meetings while updating the CRM automatically. Chloe features AI-generated call summaries, transcripts, and action items automatically logged to contacts.

Source
Thought Machine: Does the licence fee represent the total cost?

No. Implementation, system integration, parallel running and cloud infrastructure typically cost more than the licence over the programme.

Close: Does Close include lead lists, data enrichment, or contact information?

No. Close does not provide built-in lead lists, company intelligence, or contact enrichment features. Organizations must source leads separately or use third-party data providers. This differs from platforms like HubSpot which include integrated lead databases.

Source
Close: What communication features does Close include?

Close includes built-in calling with automatic call logging, email templates and bulk email capabilities, SMS messaging with tracking and automation, email syncing with Gmail, and automated follow-up workflows. All communication happens within the CRM platform.

Source
Close: Does Close have marketing automation capabilities?

Close's marketing automation features are limited compared to HubSpot. It includes basic email sequences, task reminders, and workflow automation, but lacks advanced lead scoring, nurturing campaigns, and detailed marketing analytics. Organizations requiring extensive marketing automation need separate tools.

Source
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