Ordway
Ordway offers a comprehensive finance platform that supports innovative business models with features like subscription billing, revenue recognition, and SaaS metrics reporting.
Services Offered by Ordway
Ordway provides a finance platform tailored for innovative business models, including various billing types like subscription billing and usage billing. The platform also supports revenue recognition and SaaS metrics reporting. It automates the entire order-to-revenue cycle by converting sales orders into cash and revenue, and integrates with popular CRM, ERP, tax, and payment applications. Additional services include automated payment collection, aging reports, dunning workflows, and customer self-service portals.
Ordway's Products and Features
Ordway's product suite includes support for diverse pricing strategies and contract structures. Pricing models supported range from per user and multi-tiered to volume and stair-step billing. The billing engine can manage complex structures like rollovers, overage fees, and prepaid credits with drawdowns. The software offers detailed invoice presentment for usage-based billing and extensive SaaS metrics reporting on KPIs such as ARR and MRR. It supports ASC 606 and IFRS 15 accounting standards for revenue recognition.
Integration Capabilities of the Ordway Platform
Ordway's platform integrates seamlessly with various CRM, ERP, tax, and payment applications to fully automate the order-to-revenue cycle. It also features APIs and connections to third-party applications, enhancing its flexibility and ease of use. This integration capability allows users to automate processes, streamline workflows, and maintain accuracy in billing and revenue recognition operations.
Industries Using Ordway
Ordway's customers include innovative companies across multiple industries such as fintech, healthcare, higher education, real estate, retail, and non-profits. The platform is particularly beneficial for SaaS and cloud companies dealing with complex billing and revenue challenges, helping their finance teams to manage and streamline these processes effectively.
Ordway’s Mission and Vision
Ordway's mission is to liberate finance teams from mundane, repetitive tasks, making billing and revenue recognition processes effortless. The platform is designed to support future business models and pricing trends, ensuring that it remains flexible and adaptable. Recognized as a leading subscription management software provider by Tekpon in 2024, Ordway continues to innovate and provide valuable solutions for its clients.