Name: Overview of the Ordway Platform
Uploaded: 2020-10-09T20:42:24.000Z
Duration: 1 min 26 s
Description: Overview of Ordway billing and revenue automation platform

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Transcription

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### Billing and Invoicing
Users generally praise Ordway's billing and invoicing capabilities, highlighting its automation, flexibility, and ability to streamline complex billing processes. The platform's intuitive interface and attentive customer support have also been commended. Some users have noted minor drawbacks, such as challenges in editing invoices post-sending and limitations in invoice customization. However, overall, Ordway seems to effectively address diverse billing needs and enhance efficiency in invoicing processes for businesses.

### Revenue Management
Users generally believe that Ordway excels in revenue management and billing processes. They appreciate the platform's ability to automate invoicing, revenue recognition, and accounts receivable management, saving them significant time and reducing manual errors. The flexibility in pricing plans and the tracking of subscriptions, deferred revenue, and unbilled accounts receivable are highlighted as key strengths. While some users mention areas for improvement such as dashboard reporting and MRR metrics, overall, Ordway's revenue management capabilities are seen as a valuable asset for streamlining financial operations and ensuring accuracy in revenue recognition.

### Collections and Receivables
Users unanimously praise Ordway's collections and receivables capabilities. They highlight the efficiency gained through automated billing, streamlined AR management, and improved revenue recognition processes. The system's customization options and integration with platforms like Salesforce and QuickBooks Online are lauded for enhancing overall financial operations. Additionally, users appreciate the system's user-friendly interface and responsive customer support, which have contributed to a smoother AR collection process.

### Reporting and Analytics
While some users praise Ordway's reporting and analytics features for their flexibility and automation capabilities, others express concerns about the need for improvements in creating graphs and extracting data. The consensus appears to be that Ordway's reporting tools offer a mix of strengths and areas for enhancement, with users highlighting the platform's potential for further development in this aspect.

### Automation and Workflow
Users consistently praise Ordway for its robust automation and workflow capabilities. The platform's ability to streamline billing processes, automate invoicing, and integrate with key systems like Salesforce and Stripe has been highlighted as a significant advantage. Customers appreciate the flexibility in pricing plans and the automation of usage-based billing, which has helped in improving efficiency and reducing manual workloads. Additionally, the customization options and reporting features have been commended for enhancing the overall billing experience. Users seem to have a positive outlook on Ordway's automation and workflow functionalities, emphasizing its role in driving operational efficiency and data reliability within their businesses.

### Payment Processing
Users consistently highlight Ordway's payment processing capabilities as a key strength of the platform. They appreciate the ease of processing various payment types, including ACH payments, and the automation of invoicing and payment matching. Despite some minor concerns about the integration with payment processors, users find that Ordway's payment processing functionality significantly streamlines their billing processes and enhances overall efficiency.

### Accounting and Finance
Users unanimously praise Ordway's accounting and finance capabilities. They highlight the platform's ability to streamline billing processes, automate revenue recognition, and integrate smoothly with other systems like Salesforce and QuickBooks. Customers appreciate the flexibility in structuring billing plans and the efficiency gained in managing subscriptions and invoicing. Despite some minor drawbacks like limitations in uploading PDF invoices and slow UI performance with multiple product charges, users find Ordway to be a valuable tool for automating finance and accounting tasks effectively.

### Customer and Subscription Management
Users generally praise Ordway for its robust customer and subscription management capabilities. They appreciate the platform's ability to handle complex billing scenarios, custom subscriptions, and orders with ease. The integration with Salesforce for syncing customer data and the automation of billing processes have been highlighted as significant time-saving features. Additionally, users value the attentive customer support provided by Ordway, which has been instrumental in addressing any issues promptly and continuously improving the platform based on user feedback.

### Contract Management
Users unanimously praise Ordway's contract management capabilities. They highlight the platform's ability to streamline payments across diverse contract terms and payment methodologies. Additionally, users appreciate the system's automation features, which simplify the management of complex and evolving contracts. Ordway's contract management functionality is lauded for its user-friendly interface and its effectiveness in handling mid-term changes and custom contract structures. Customers value the system's audit trail, which provides transparency and aids in debugging contract and invoicing complexities.

Users have commonly recommended the following for using Ordway: considering getting onboarding training to navigate its user-friendly interface, conducting thorough testing after implementation to address any bugs, and assigning knowledgeable individuals during implementation for efficiency. These recommendations highlight the importance of training, testing, and dedicated resources for successful use of Ordway's billing and finance functions. Additionally, users praise Ordway's commitment to improve user experience, recommend it as a great option for small businesses looking to automate billing and finance functions, and commend its customer service. The flexibility of Ordway's software and its ability to eliminate worries about billing are also mentioned as positive aspects. Overall, users emphasize the importance of research, understanding API value and revenue type implications for GAAP compliance, as well as leaving ample time for implementation, especially when migrating from another system.

Comprehensive Platform: Users have praised Ordway for being a comprehensive platform that offers a wide range of features, including automated invoicing, child companies under parent company, and reporting capabilities. Many reviewers appreciate the customizable nature of the platform which allows them to add multiple MRR streams filterable according to their preferences.

Helpful Customer Support: Reviewers applaud Ordway's customer support team for being highly responsive, attentive and always seeking feedback to improve their product. The implementation team is also mentioned as providing excellent service by tailoring billing processes to business needs; this level of attention exceeded user expectations.

Automated Invoicing: A common theme in reviews is how users found Ordway helpful in automating almost every invoice process activity. This automation saves users time on manual interventions while optimizing billing cycles from 10 to 6 business days. Additionally, many praise the aging report and ability to streamline payments across complex and varied contracts terms using different payment methodologies.

Unintuitive Interface: Several users have found the interface of Ordway to be unintuitive and cumbersome, making it difficult for them to use the software. They mentioned that it is not easy to navigate through different features, especially when it comes to reporting and dashboard graph creation.

Issues with Salesforce Integration: Some users experienced bugs and errors with the Salesforce integration in Ordway. They also find it difficult to edit invoices after they are sent or if they need to add charges. There is no easy way to re-run failed payments.

Difficulty in Setting Up Billing Start Dates: Users have expressed difficulty in setting up billing start dates on Ordway. This feature seems challenging, and some users feel that there could be more guidance around how this works within the system.

Ordway is a SaaS company based in Washington DC that offers an eponymous billing and finance platform. Boasting users across multiple industries, Ordway aims to eliminate back-office inefficiencies, identify revenue trends, and simplify finance and operations tasks so personnel can focus on strategic growth activities.

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Maxio helps B2B SaaS companies maximize their revenue operations. The financial operations platform is designed to meet the unique financial challenges of B2B SaaS, including billing, subscription management, revenue & expense recognition, and SaaS metrics & analytics.

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Revenue Management Software helps companies adhere to sometimes complex revenue reporting standards applied to digital services and subscription-based revenue from contractual or recurring billing. It can help maximize revenue from digital and telecommunications services via analyses of money streams, simplification of billing to reduce churn, and perform other useful tasks for the increase of revenue and decrease of customer churn associated to billing and services.

Revenue Management

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Monthly recurring revenue (MRR) dashboard

Ordway is a smart billing and revenue automation platform for scaling businesses to bridge sales-to-finance workflows from CRM to general ledger, by managing recurring subscriptions, contract details, pricing transactions, invoicing customers, collecting payments, recognizing revenue, and reporting insights.Developed by Sameer Gulati, a 20-year SaaS veteran who launched multiple billion-dollar products at Zuora, Intacct, and WorkDay, the Ordway platform is modern, flexible, and turnkey. Its API-first billing architecture means Ordway evolves with companies as they look forward and offer new pricing and terms to meet both today’s and tomorrow’s customer needs. Ordway accelerates order flow by managing flexible pricing, complex SaaS subscriptions, and non-recurring contracts, and eliminates data lag between legacy systems. The platform optimizes efficiencies by automating recurring invoicing and payment collections at scale and generating billing and revenue schedules aligned in granular detail. And because all of the data is connected at this fundamental level, the platform produces trusted revenue insights when you need them, maintaining a single source of truth by syncing contract data between CRM and the billing engine.Ordway succeeds where boxed-in CRM, ERP, and iPaaS technologies fail because its framework comprehends key elements of your contracts to power all other revenue operations. This deep understanding of all of the moving parts of the order-to-revenue workflow (quotes, invoices, customer communications, revenue schedules, and real-time intelligence) means it’s easy to change when something unexpected emerges, without having to redesign your finance stack or introduce a manual workaround.

Overview of Ordway billing and revenue automation platform

Overview of the Ordway Platform

Ordway billing and revenue automation platform answers evolving order to revenue needs.

The Ordway billing and revenue automation platform is a flexible operational bridge between sales and finance that unclogs deals and decision making by unifying complex, error-prone, post-sale operations in one efficient engine. 
Request a demo here: https://www.ordwaylabs.com/request/

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