Billing & invoicing automation platform
5/5 (9 reviews)Ordway is a cloud-based billing and revenue automation platform that helps small to mid-size businesses price products, collect payments, send invoices, and handle revenue stream. The solution enables users to process pricing plans, contractors, and subscription plans.
Primary features of Ordway include usage-based billing, recurring subscription management, customized dunning workflows, use-expiry notifications, automated payment processing, journal entries, custom reports, customizable dashboards, ad-hoc bills, and more. The platform lets businesses apply special discounts and promotions based on customer requirements. Ordway also allows users to create revenue and billing recognition schedules to access audit trails and close financial periods.
The platform provides a visual dashboard, enabling users to track KPIs and key metrics through insights, detailed reports, and data visualization. Ordway offers a RESTful API to automate configuration and integrate with third-party ERP and accounting applications such as QuickBooks, Salesforce, and Avalara.
Pros
Dynamic pricing tiers:
Our business model includes charges based on number of employees and assets under management, which changes often as businesses scale up. Keeping our systems in sync with our billing operations is now not an issue.
Volume of invoicing:
With the amount of growth and volume we are doing, it would require an army of people to keep up if we were doing this manually
Speed of implementation:
Their customer success team helped load historical data and get all of our contracts configured. Our business is growing quickly and we didn’t have tons of resources to dedicate to getting Ordway set up. We were pleasantly surprised that we were able to stand up the system and go live in a matter of weeks as opposed to months.
Cons
Initial reporting functionality:
Some of the reporting dashboards and functionality were not initially well-suited to our business model, although I think would be fine for a regular "SaaS" business. However the functionality has improved over time and we are able to export any/all of our data for additional analysis.
Integration with accounting systems:
We initially did not have a direct integration to our accounting system, but the ability to upload CSV files make it easy to regularly keep both systems in sync. I believe full integration capability is planned for this year (2019).
Prior to Ordway, my company was using multiple billing systems for different products. It was very difficult to get a consolidated view of our customer's billing information. We are now on one system so that A/R can be tracked accurately, and all of our invoices have the same look and feel regardless of the products that the customer is buying.
Pros
Ordway is highly configurable and flexible, which allows me to tailor the workflow and my customers' billing experiences rather than rely on a pre-configured process.
Cons
Like any relatively new product, there are additional features that would be nice to have. The Ordway team has developed many new features since I began using the product, but there are still more things that I would like added over time. The team has been very responsive to my new feature requests and has either implemented the requested features or provided acceptable workarounds.
We've had an excellent experience, from its implementation with a dedicated, focused and client-centric team, through to day-to-day use, simplification and automation of our processes.
Pros
- Handles multiple levels of complexity, addressing our different billing scenarios.
- Flexible, allowing integration into other applications and our workflows.
- Automation of several processes and continued growing potential for further improvements.
- Attention, dedication and responsiveness of the Ordway team.
Cons
- Flexibility adds the possibility of complexity, and you need to mindful of that when implementing.
Pros
Our home-grown billing system was built for an initial, more-simple use case and turned out to be inadequate for us as our use cases got complex. Ordway’s API let us automate this and they are maintaining the billing code base in a way we never could without hiring lots of engineers. Their documentation and support are great, so anytime we update our provisioning code, it’s easy to maintain the connection.
Cons
Nothing comes to mind really. If anything, there was very good support when it came to handling all the nuances of our billing scenarios
Overall, the team has been great to work with. When we were first onboarding with them, we uncovered some accounts that were not getting invoiced correctly. As a result, we were able to recover lost revenue early on and basically realize immediate ROI.
Pros
We use Stripe for processing payments, and the native integration with Ordway meant we effectively automated a part of our business frankly we didn’t want to build ourselves. We’re a SaaS company and we’ve identified best-in-breed SaaS partners to handle our non-core business functions. Ordway and Stripe represent a good example of that.
Cons
It's doing what it needs to do from my perspective. My team has mentioned that since they don't have to be in the system that often, remembering how to do things is sometime an issue. Their support team is always accessible and willing to help.
Contact Ordwat for pricing details.
• Ordway comes with a standard and customizable dashboard that allows users to create reports on customer movements, churn, and recurring revenues.
• The solution provides a finance module with functionalities such as access aging reports, revenue recognition rules, audit logs, and more.
• Ordway allows users to access the growth of customers with metrics including active customer count, revenue tracker, number of contracts, and renewed projects.
• The platform can be configured based on customer requirements with capabilities such as payment processing options, wire transfers, and refunds.
•The solution automatically starts billing when users close deals in third party applications such as Salesforce.
Below are some frequently asked questions for Ordway.
Ordway offers the following pricing plans:
Pricing model: Subscription
Free Trial: Available
Contact Ordwat for pricing details.
Ordway offers the following features:
Ordway has the following typical customers:
Mid Size Business, Small Business
Ordway supports the following languages:
English
Ordway has the following pricing plans:
Subscription
We do not have any information about what devices Ordway supports
Ordway integrates with the following applications:
Avalara, QuickBooks, Sage | Accounting, Salesforce Sales Cloud
Ordway offers the following support options:
Knowledge Base, Online Support, Phone Support
Ordway allows us to set up customers as they sign contracts, then dynamically bill them based on various usage factors as well as other factors. We can be confident that our customized invoices are accurate, and we can use the UI to quickly identify and fix any issues or changes as they happen.